Housing Finance Bank
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.[3]
Overview
HFB is primarily involved in mortgage banking. Founded in 1967 as a housing finance company, Housing Finance Bank became a fully licensed commercial bank in January 2008, having acquired a commercial banking license. The bank is the leading mortgage lender in the country, with approximately 60% of all Ugandan mortgage accounts. As of April 2010, Housing Finance Bank is the 10th largest commercial bank in Uganda with an asset base estimated at US$130 million, representing about 3% of all bank assets in the country. [4][5]
Ownership
The bank is 50% owned by the National Social Security Fund (Uganda). The Government of Uganda, through the Ministry of Finance owns 49.2%. The remaining 0.8% is owned by National Housing and Construction Company (NHCC), a parastatal company owned by the Government of Uganda.[6] The bank plans to list its shares on the Uganda Securities Exchange in 2012.[7] The current shareholding in the bank is depicted in the table below:
| Housing Finance Bank Stock Ownership |
Branch Network
Housing Finance Bank maintains its corporate headquarters and main branch at its newly constructed headquarters building on Wampewo Avenue, on Kololo Hill.[8] The bank's main branch is located in Investment House on Kampala Road. Another branch within the Kampala Central Business District is located in Nakasero, across from the Nigerian High Commission. There are two other branches in Kampala, one each in the suburbs of Namuwongo and Ntinda. In February 2009, the bank opened a branch in Mbarara in western Uganda. [9] In March 2009, the bank opened its 6th branch is an area of Kampala known as Kikuubo. [10] In June 2009, the bank opened its seventh (7th) branch in Mbale promising, at the opening ceremony, to launch Internet banking and rural mobile banking later in 2009. [11] In July 2009, the bank opened its eighth (8th) branch in Arua.[12]
As of October 2011[update], the bank maintains branches in the following locations:[13]
- Arua Branch - Arua
- Bugoloobi Branch - Bugoloobi, Kampala
- Garden City Branch - Garden City Mall, Kampala
- Main Branch - Investment House, Wampewo Avenue, Kololo, Kampala
- Kampala Road Branch - Kampala Road, Kampala
- Kikuubo Branch - Ben Kiwanuka Street, Kampala
- Mbarara Branch - Mbarara
- Mbale Branch - Mbale
- Nakasero Branch - Nakasero Road, Nakasero, Kampala
- Nakawa Branch - Nakawa, Kampala
- Namuwongo Branch - Namuwongo, Kampala
- Ntinda Branch - Ntinda, Kampala
- Ovino Branch - Ovino Market Mall, Kisenyi, Kampala
- Lira Branch - Lira[14]
- Gulu Branch - Gulu
- Fort Portal Branch - Fort Portal
Directors
Housing Finance Bank is governed by a ten (10) person Board of Directors of whom three (3) are Executive Directors and seven (7) are non-executive. The Chairman of the Board is Keith Muhakanizi, one of the non-executive directors.
Executive Management
Nicholas Okwir is the Managing Director of Housing Finance Bank. There are twelve (12) other managers with whom the Managing Director supervises the day-to-day activities of the bank. Okwir is a graduate of Namilyango College, one of the most prestigious high schools in Uganda. He holds a Bachelors degree in Commerce (BCom) from the University of Nairobi. He is a Certified Public Accountant (CPA). He has worked at Housing Finance Bank since 1983 and has served as the Chief Executive at the same bank since 2002.[15]
External links
See also
References
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