Housing Finance Bank

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Housing Finance Bank
Private
Industry Financial services
Founded 1967
Headquarters 4 Wampewo Avenue
Kololo, Kampala, Uganda[1]
Key people
 Mathias Katamba,
managing director
Products Loans, checking, savings, investments, debit cards, mortgages
Revenue IncreaseAftertax: US$2.54 million (UGX:6.45 billion) (2013)
Total assets US$220.1 million (UGX:558.4 billion) (2013)
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.[2]

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. As of December 2013, HFB was the ninth largest commercial bank in Uganda with an asset base estimated at US$220.1 million (UGX:558.4 billion) and shareholders' equity of approximately US$42 million (UGX:106.4 billion),[3] representing about 3.5 percent of all bank assets in the country at that time.[citation needed]

Ownership

HFB is 50 percent owned by the National Social Security Fund (Uganda). The government of Uganda, through the Ministry of Finance owns 45 percent. The remaining 5 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).[4]

HFB had plans to list its shares on the Uganda Securities Exchange in 2012,[5] however, those plans have been postponed.[6]

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.[7] 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.[8] In July 2009, HFB opened a branch in Arua, its eighth in the country.[9]

As of April 2014, HFB maintained branches at the following locations:[10]

  1. Pearl Lounge Executive Banking Branch - 4 Wampewo Avenue, Kololo, Kampala
  2. Arua Branch - OB Plaza, 9-11 Adumi Road, Arua
  3. Fort Portal Branch - 4 Kyebambe Road, Fort Portal
  4. Garden City Branch - Garden City Mall, 64-68, Yusuf Lule Road, Kampala
  5. Gulu Branch - 26 Labwor Road, Gulu
  6. Jinja Branch - Beamteks Plaza, 68 Main Street, Jinja
  7. Kampala Road Branch - 25 Kampala Road, Kampala
  8. Kikuubo Branch - 15 Nakivubo Road, Kampala
  9. Kololo Branch - Investment House, 4 Wampewo Avenue, Kololo Main Branch
  10. Lira Branch - 4 Bazaar Road, Lira[11]
  11. Mbale Branch - Bugisu Cooperative Union House, 2 Court Road, Mbale
  12. Mbarara Branch - Classic Hotel Building, 57 High Street, Mbarara
  13. Najjanankumbi Branch - Pelican House, 1032 Entebbe Road, Najjanankumbi
  14. Nakasero Branch - 34A Nakasero Road, Nakasero, Kampala
  15. Namuwongo Branch -38 Kisugu Road, Namuwongo, Kampala
  16. Ndeeba Branch - 94-96 Masaka Road, Ndeeba, Kampala
  17. Ntinda Branch - 1 Kimera Road, Ntinda
  18. Ovino Branch - Ovino Market Mall, 22, Kibuga Road, Kisenyi, Kampala
  19. Tororo Branch - 11 Mbale Road, Tororo

Directors

HFB is governed by an eleven-person board of directors of whom four are executive directors and seven are non-executive. The chairman of the board is Keith Muhakanizi, one of the non-executive directors.[12]

Executive Management

Nicholas Okwir was the founding managing director of HFB. Okwir is a graduate of Namilyango College. He holds a bachelor's degree in commerce from the University of Nairobi. He is also a certified public accountant. He has worked at HFB since 1983 and has served as the chief executive at the same bank since 2002.[13]

In April 2013, Mathias Katamba became managing director, succeeding the retiring Nicholas Okwir. There are fourteen other managers with whom the managing director supervises the daily activities of HFB.[14]

See also

References

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External links

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