Housing Finance Bank
Company type | Private |
---|---|
Industry | Financial services |
Founded | 1967; 57 years ago (1967) |
Headquarters | Investment House 4 Wampewo Avenue Kololo, Kampala, Uganda[1] |
Key people | David Opiokello Chairman Michael Mugabi CEO[2] |
Products | Loans, checking, savings, investments, debit cards, mortgages |
Revenue | Aftertax:UGX:61.5 billion (US$16.37 million) (2023)[3] |
Total assets | UGX:2.14 trillion (US$569.641 million) (2023)[3] |
Number of employees | 309 (2022) |
Website | Homepage |
Housing Finance Bank (HFB) is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the national banking regulator.[4]
Overview
HFB is a full service retail bank that is primarily involved in mortgage banking. Founded in 1967 as a housing finance company, HFB became a fully licensed commercial bank in January 2008, having acquired a commercial banking license from the Bank of Uganda. The bank is the leading mortgage lender in the country, with approximately 60 percent of all Ugandan mortgage accounts. On 31 December 2023, the bank's assets were USh2.14 trillion (US$569.641 million). The bank made an after-tax profit of USh65.1 billion (US$16.37 million) in 2023. At that time, core capital was USh273.8 billion (approx. US$72.9 million).[3]
In August 2017, the two largest shareholders in the bank, the Uganda government and NSSF Uganda, each contributed $8.2 million (for a total of $16.4 million) in fresh capital, to boost the bank's ability to lend to more mortgage borrowers and improve the lender's liquidity.[5]
Ownership
HFB is owned by the Uganda National Social Security Fund (50.0 percent). The government of Uganda, through the Uganda Ministry of Finance, Planning and Economic Development, owns 49.18 percent. The remaining 0.82 percent is owned by the National Housing and Construction Company, a parastatal company jointly owned by the government of Uganda (51 percent) and the government of Libya (49 percent).[6]
HFB had planned to list its shares on the Uganda Securities Exchange in 2012,[7] however, those plans were postponed.[8]
Branch network
HFB maintains its corporate headquarters and main branch at its newly constructed headquarters building on Wampewo Avenue, on Kololo Hill. HFB's former main branch is located on Kampala Road.
Another branch within the Kampala central business district is located in Nakasero, across Nakasero Road from the Nigerian High Commission. There are two other branches in Kampala, one each in the suburbs of Namuwongo and Ntinda.
In February 2009, HFB opened a branch in Mbarara in western Uganda. In March 2009, HFB opened a branch in an area of Kampala known as Kikuubo.[9] In June 2009, HFB opened a branch in Mbale, promising at the opening ceremony to launch Internet banking and rural mobile banking later in 2009.[10] In July 2009, HFB opened a branch in Arua, its eighth in the country.[11]
As of December 2022, HFB maintained branches at the following locations:[3]
- Kololo Head Office Branch, Investment House: 4 Wampewo Avenue, Kololo, Kampala Main Branch
- Kampala Road Branch: 25 Kampala Road, Kampala
- Namuwongo Branch: 38 Kisugu Road, Namuwongo, Kampala
- Ntinda Branch: Ntinda Shopping Centre, 1 Kimera Road, Ntinda
- Nakasero Branch: 34A Nakasero Road, Nakasero, Kampala
- Kikuubo Branch: Muzinge Dry Cleaners Building, 15 Nakivubo Road, Kampala
- Garden City Branch: Garden City Mall, 64-68, Yusuf Lule Road, Kampala
- Ndeeba Branch: 94-96 Masaka Road, Ndeeba, Kampala
- Lira Branch: 4 Bazaar Road, Lira[12]
- Gulu Branch: 26 Labwor Road, Gulu
- Jinja Branch: Beamteks Plaza, 68 Main Street, Jinja
- Mbarara Branch: Classic Hotel Building, 57 High Street, Mbarara
- Mbale Branch: Bugisu Cooperative Union House, 2 Court Road, Mbale
- Arua Branch: OB Plaza, 9-11 Adumi Road, Arua
- Tororo Branch: 11 Mbale Road, Tororo
- Mukono Branch: 51 Kampala Road, Mukono
- Fort Portal Branch: 4 Kyebambe Road, Fort Portal
- Nansana Service Centre: Njovu Estate, Head Office Building, 1158 Hoima Road, Nansana.
Directors
Housing Finance Bank is governed by a twelve-person board of directors of whom two are executive directors and ten are non-executive. The chairman of the board is David Opiokello, one of the non-executive directors.[13]
Executive management
Nicholas Okwir was the founding managing director of HFB.[14] In April 2013, Mathias Katamba became managing director, succeeding the retiring Okwir. In October 2018, Katamba left and Michael Mugabi was named CEO in an acting capacity.[2] There are eleven other senior managers with whom the managing director supervises the daily activities of the bank.[15]
See also
References
- ^ Sylvia Juuko (15 November 2010). "Housing Finance Gets 15 Billion Mortgage Fund". New Vision. Retrieved 25 April 2014.
- ^ a b Nakaweesi, Dorothy (29 October 2018). "Katamba quits Housing Finance, linked to dfcu". Daily Monitor. Kampala. Retrieved 29 October 2018.
- ^ a b c d Nelson Mandela (30 April 2024). "Housing Finance Bank earns UGX.65 billion in net profits for 2023". PML Daily. Kampala, Uganda. Retrieved 9 May 2024.
- ^ Bank of Uganda (31 March 2023). "List of Licensed Commercial Banks As At 31 March 2023" (PDF). Bank of Uganda. Kampala, Uganda. Retrieved 9 May 2024.
- ^ Bernard Busuulwa (16 August 2017). "Uganda mortgage lender to receive $16m new capital". The EastAfrican. Nairobi, Kenya. Retrieved 21 February 2024.
- ^ Housing Finance Bank (4 June 2018). "Background of Housing Finance Bank: Ownership". Kampala: Housing Finance Bank. Retrieved 4 June 2018.
- ^ Kulabako, Faridah (17 November 2011). "Housing Finance Bank to List Shares At Securities Exchange". Daily Monitor. Retrieved 25 April 2014.
- ^ Oketch, Martin Luther (17 February 2015). "They Promised To Sell Shares, What Happened?". Daily Monitor. Kampala. Retrieved 17 February 2015.
- ^ Oneal, Nicholas (3 March 2009). "Housing Finance Goes To Kikuubo". New Vision. Retrieved 25 April 2014.
- ^ Odomel, James (25 June 2009). "Housing Finance Opens Mbale Branch". New Vision. Retrieved 25 April 2014.
- ^ Drasimaku, Richard (22 July 2009). "Housing Finance Bank Enters Arua". The Observer (Uganda). Retrieved 25 April 2014.
- ^ "BOU Chief Urges Banks To Lower Interest Rates To Ease Borrowing". New Vision. 11 April 2011. Retrieved 25 April 2014.
- ^ Housing Finance Bank (10 December 2018). "Members of the Board of Housing Finance Bank". Kampala: Housing Finance Bank. Retrieved 10 December 2018.
- ^ Kulabako, Faridah (6 January 2014). "Employers' Body To Introduce Training Levy". Daily Monitor. Kampala. Retrieved 25 April 2014.
- ^ Housing Finance Bank (10 December 2018). "Management Team At Housing Finance Bank". Kampala: Housing Finance Bank. Retrieved 10 December 2018.
External links
- Housing Finance Bank Homepage
- Uganda: Housing Finance Readies for Agency Banking
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