HBFCL

_: House Building Finance Company Limited (HBFCL) is a Pakistan's leading housing finance institution. HBFCL has a countrywide network of Regional, Zonal and Branch offices, and is able to offer many services to clients in every part of Pakistan. HBFCL is an unlisted public company, incorporated in Pakistan on June 13, 2006 under the Companies Ordinance, 1984. The Company has taken over all assets, running business, contracts, liabilities and proceedings of the House Building Finance Corporation (HBFC) , established in 1952 under the House Building Finance Corporation Act 1952 (XvTII OF 1952) by the Government of Pakistan from closing of the business on December 31, 2006, the effective date, pursuant to a Vesting Order SRO. 1/2007 dated July 25, 2007 issued by the Finance Division- Government of Pakistan. Accordingly, HBFCL is no longer a statutory institution.

HBFCL has provided a range of housing finance products and services for nearly half a million housing units. The company has financed around 456,256 units for Rs. 47.82 billion, successful recoveries of Rs. 64 billion (inclusive of mark up) and has a housing portfolio of Rs.14.6 billion. At present the company is handling over 77,666 operative accounts with a work force comprising of 951 officers and support staff. The Company operates throughout Pakistan including Azad Kashmir and Northern areas.

Approximately, 51 per cent HBFCL's clientele is of the...