House Building Finance Company: Difference between revisions

House Building Finance Company Limited
Formerly	House Building Finance Corporation
Company type	Government
Industry	Financial services
Founded	1951; 73 years ago
Headquarters	Karachi, Sindh, Pakistan
Number of locations	51
Key people	Imran Ahad (MD)
Products	Housing Finance; Home construction loan; Home extension and renovation loan;
Revenue	Rs. 2,424,288,000 (2021)
Operating income	Rs. (1,520,051,000) (2021)
Net income	Rs. 986,154,000 (2021)
Total assets	Rs. 22,449,515,000 (2021)
Parent	State Bank of Pakistan
Website	hbfc.com.pk

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House Building Finance Company Limited (HBFCL), (Urdu: ہاؤس بلڈنگ فنانس کمپنی لمیٹڈ) formerly known as House Building Finance Corporation (HBFC), is a Pakistani housing finance company which is a subsidiary of State Bank of Pakistan. Founded in 1952, it is based in Karachi, Pakistan.^[1]^[2]

History

House Building Finance Company was founded in 1951. Before the independence of East Pakistan, it was headquartered in Dacca.^[3] It was incorporated as a corporation on 25 July 2007 and is jointly owned by the State Bank of Pakistan (90.31 percent) and Government of Pakistan (9.69 percent).^[2] On 18 February 2011, the name of House Building Finance Corporation was changed to House Building Finance Company Limited under section 39 of the Companies Ordinance 1984.^[2]

The company is now an unlisted public limited company.^[2] The company has 51 branches, 7 area offices, 3 regional offices, and head office based in Karachi.^[2]

Privatization

The Cabinet Committee on Privatisation (CCoP) approved transaction structures for the privatization of House Building Finance Company Ltd.^[4]

Products and services

Ghar Pakistan Scheme (GPS), a housing financing scheme for midlevel income persons
Ghar Pakistan Plus Scheme (GPS Plus), a special scheme for construction of house with higher income persons
Ghar Sahulat Scheme (GSS), a scheme is used for house purchasing or construction.
HBFC Khaas, a special scheme for widows, children of martyrs of special forces, special persons, transgenders
Mera Pakistan Mera Ghar Scheme, a government's markup subsidise scheme.
Ghar Ujala Scheme, a home solar system scheme from 3KW to 20KW up to 10 years.

References

^ "HBFC has become bankrupt on account of low recovery of loans: minister". www.thenews.com.pk.
^ ^a ^b ^c ^d ^e "House Building Finance Company". www.hbfc.com.pk. Retrieved 2020-07-23.
^ AKHTAR, S. M. (1964). "The Problem of Regional Disparities in Economic Development: WITH SPECIAL REFERENCE TO PAKISTAN". The Punjab University Economist. 4 (7): 19–28 – via JSTOR.
^ Paracha, Shahzad (2020-08-21). "CCoP approves 7pc divestment in OGDC,10pc in PPL shares". Profit by Pakistan Today. Retrieved 2020-09-11.

This Pakistani corporation or company article is a stub. You can help Wikipedia by expanding it.

[1] "HBFC has become bankrupt on account of low recovery of loans: minister". www.thenews.com.pk.

[:0-2] "House Building Finance Company". www.hbfc.com.pk. Retrieved 2020-07-23.

[3] AKHTAR, S. M. (1964). "The Problem of Regional Disparities in Economic Development: WITH SPECIAL REFERENCE TO PAKISTAN". The Punjab University Economist. 4 (7): 19–28 – via JSTOR.

[4] Paracha, Shahzad (2020-08-21). "CCoP approves 7pc divestment in OGDC,10pc in PPL shares". Profit by Pakistan Today. Retrieved 2020-09-11.

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@@ Line 1: / Line 1: @@
 {{Infobox company
 | name = House Building Finance Company Limited
-| logo =
+| logo = HBFC Pakistan logo.png
 | logo_size =
 | image =
@@ Line 9: / Line 9: @@
 | traded_as =
 | key_people = Imran Ahad ([[Managing director|MD]])
-| foundation = {{start date and age|1952}}
+| foundation = {{start date and age|1951}}
-| industry = [[Banking]]
+| industry = [[Financial services]]
+| products = {{ubl|[[Home loans|Housing Finance]]|[[Home construction|Home construction loan]]|[[Home loan|Home extension and renovation loan]]}}
-| products = [[Home Financing]]
-| revenue =
+| revenue = {{Decrease}}  {{PKR}}2,424,288,000 (2021)
+| operating_income = {{Decrease}} {{PKR}}(1,520,051,000) (2021)
+| net_income = {{Decrease}} {{PKR}}986,154,000 (2021)
+| assets = {{Decrease}} {{PKR}}22,449,515,000 (2021)
 | num_employees =
-| location_city = [[Karachi]]
+| location_city = [[Karachi]], [[Sindh]]
 | num_locations = 51
 | location_country = [[Pakistan]]
 | parent = [[State Bank of Pakistan]]
-| homepage = {{url|http://www.hbfc.com.pk}}
+| homepage = {{URL|hbfc.com.pk}}
 }}
-'''House Building Finance Company Limited (HBFCL)''', ({{nastaliq|ہاؤس بلڈنگ فنانس کمپنی لمیٹڈ}}) previously known as '''House Building Finance Corporation (HBFC)''', is a Pakistani [[housing]] finance company which is a subsidiary of [[State Bank of Pakistan]]. Founded in 1952, it is based in [[Karachi]], [[Pakistan]].<ref>{{cite web|url=https://www.thenews.com.pk/print/270222-hbfc-has-become-bankrupt-on-account-of-low-recovery-of-loans-minister|title=HBFC has become bankrupt on account of low recovery of loans: minister|website=www.thenews.com.pk}}</ref><ref name=":0">{{Cite web|title=House Building Finance Company|url=http://www.hbfc.com.pk/page/about_us/company_profile|access-date=2020-07-23|website=www.hbfc.com.pk}}</ref>
+'''House Building Finance Company Limited (HBFCL)''', ({{langx|ur|ہاؤس بلڈنگ فنانس کمپنی لمیٹڈ}}) formerly known as '''House Building Finance Corporation (HBFC)''', is a Pakistani [[housing]] finance company which is a subsidiary of [[State Bank of Pakistan]]. Founded in 1952, it is based in [[Karachi]], [[Pakistan]].<ref>{{cite web|url=https://www.thenews.com.pk/print/270222-hbfc-has-become-bankrupt-on-account-of-low-recovery-of-loans-minister|title=HBFC has become bankrupt on account of low recovery of loans: minister|website=www.thenews.com.pk}}</ref><ref name=":0">{{Cite web|title=House Building Finance Company|url=http://www.hbfc.com.pk/page/about_us/company_profile|access-date=2020-07-23|website=www.hbfc.com.pk}}</ref>
-== Corporatization ==
+== History ==
-The company was incorporated as a corporation on 25 July 2007 and is jointly owned by the [[State Bank of Pakistan]] (90.31%) and [[Government of Pakistan]] (9.69%).<ref name=":0" /> On 18 February 2011 the name of House Building Finance Corporation was changed to House Building Finance Company Limited under section 39 of the [[Companies Ordinance 1984]].<ref name=":0" />
+House Building Finance Company was founded in 1951. Before the independence of [[East Pakistan]], it was headquartered in [[Dacca]].<ref>{{Cite journal|url=http://www.jstor.org/stable/23006576|title=The Problem of Regional Disparities in Economic Development: WITH SPECIAL REFERENCE TO PAKISTAN|author=AKHTAR, S. M.|year=1964|journal=The Punjab University Economist|volume=4|issue=7|pages=19-28|via=JSTOR}}</ref> It was incorporated as a corporation on 25 July 2007 and is jointly owned by the [[State Bank of Pakistan]] (90.31 percent) and [[Government of Pakistan]] (9.69 percent).<ref name=":0" /> On 18 February 2011, the name of House Building Finance Corporation was changed to House Building Finance Company Limited under section 39 of the [[Companies Ordinance 1984]].<ref name=":0" />
-The company is now an unlisted public limited company.<ref name=":0" /> The company has 51 Branches, 7 Area offices, 3 Regional offices and Head Office based in Karachi.<ref name=":0" />
+The company is now an unlisted public limited company.<ref name=":0" /> The company has 51 branches, 7 area offices, 3 regional offices, and head office based in Karachi.<ref name=":0" />
 == Privatization ==
 The Cabinet Committee on Privatisation (CCoP) approved transaction structures for the privatization of House Building Finance Company Ltd.<ref>{{Cite web|last=Paracha|first=Shahzad|date=2020-08-21|title=CCoP approves 7pc divestment in OGDC,10pc in PPL shares|url=https://profit.pakistantoday.com.pk/2020/08/21/ccop-approves-7pc-divestment-in-ogdc10pc-in-ppl-shares/|access-date=2020-09-11|website=Profit by Pakistan Today|language=en-US}}</ref>
+== Products and services ==
+* Ghar Pakistan Scheme (GPS), a housing financing scheme for midlevel income persons
+* Ghar Pakistan Plus Scheme (GPS Plus), a special scheme for construction of house with higher income persons
+* Ghar Sahulat Scheme (GSS), a scheme is used for house purchasing or construction.
+* HBFC Khaas, a special scheme for widows, children of martyrs of special forces, special persons, transgenders
+* Mera Pakistan Mera Ghar Scheme, a government's markup subsidise scheme.
+* Ghar Ujala Scheme, a home solar system scheme from 3KW to 20KW up to 10 years.
 ==References==
@@ Line 40: / Line 51: @@
 [[Category:State Bank of Pakistan]]
 [[Category:Financial services companies established in 1952]]
+[[Category:Government-owned companies of Pakistan]]
 [[Category:Housing finance companies of Pakistan]]
 [[Category:Companies based in Karachi]]
-[[Category:1952 establishments in Pakistan]]
+[[Category:1952 establishments in East Bengal]]
 {{Pakistan-company-stub}}

v t e State Bank of Pakistan
Currency	Pakistani rupee
Organization	National Institute of Banking and Finance Pakistan Mint State Bank of Pakistan Museum & Art Gallery Victoria Museum, Karachi
Subsidiaries	House Building Finance Company National Bank of Pakistan Pakistan Security Printing Corporation Zarai Taraqiati Bank Limited
Educational institutes	Institute of Bankers Pakistan National Institute of Banking & Finance
Products and services	Raast Roshan Digital Account
Facilities	State Bank of Pakistan Sports Complex
Governors	Zahid Husain (1948–1953) Abdul Qadir (1953–1960) Hasnie (1960–1967) Mahbubur Raschid (1967–1971) Durrani (1971) Ghulam Ishaq Khan (1971–1975) Syed Osman Ali (1975–1978) Kazi (1978–1986) Vasim Aon Jafarey (1986–1988) Hanfi (1988–1989) Parekh (1989–1990) Hanfi (1990–1993) Muhammad Yaqub (1993–1999) Ishrat Hussain (1999–2005) Shamshad Akhtar (2006–2009) Salim Raza (2009–2010) Kardar (2010–2011) Yasin Anwar (2011–2014) Wathra (2014–2017) Bajwa (2017–2019) Reza (2019–2022) Murtaza Syed (2022) Jameel Ahmed (2022–present)