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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]
HFB is a full service retail bank that 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 from Bank of Uganda. The bank is the leading mortgage lender in the country, with approximately 60% of all Ugandan mortgage accounts. As of December 2013, Housing Finance Bank was the 9th largest commercial bank in Uganda with an asset base estimated at approximately 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% of all bank assets in the country at that time.[4]
The bank is 50% owned by the National Social Security Fund (Uganda). The Government of Uganda, through the Ministry of Finance owns 45%. The remaining 5% is owned by National Housing and Construction Company (NHCC), a parastatal company jointly owned by the Government of Uganda (51%) and the Government of Libya (49%).[5] The bank had plans to list its shares on the Uganda Securities Exchange (USE) in 2012,[6] however, those plans have not been implemented as of April 2014. The current shareholding in the bank is depicted in the table below:
Housing Finance Bank maintains its corporate headquarters and main branch at its newly constructed headquarters building on Wampewo Avenue, on Kololo Hill. The bank'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, the bank opened a branch in Mbarara in western Uganda. In March 2009, the bank opened its 6th branch is an area of Kampala known as Kikuubo.[7] In June 2009, the bank opened a branch in Mbale, its 7th nationwide, promising, at the opening ceremony, to launch Internet banking and rural mobile banking later in 2009.[8] In July 2009, Housing Finance Bank opened a branch in Arua, its 8th in the country.[9] As of April 2014, the bank maintains branches at the following locations:[10]
Housing Finance Bank 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]
Nicholas Okwir was the founding Managing Director of Housing Finance 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 also 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. He also served as the Chairman of the Federation of Uganda Employers, an industry organization.[13]
In April 2013, Mathias Katamba became Managing Director, succeeding Nicholas Okwir, who retired There are fourteen other managers with whom the Managing Director supervises the day-to-day activities of the bank.[14]
Uganda, Buganda, Kampala District, Kabaka of Buganda, Makerere University
Tanzania, Kampala, South Sudan, Rwanda, Kenya
Uganda, Kampala, Kampala District, Saudi Arabia, Nakasero
Uganda, Kampala, Richard Byarugaba, Uganda Securities Exchange, Chairman, Housing Finance Bank
Kampala, Wakiso District, Housing Finance Bank, Bukoto, House, Uganda
Lira District, Uganda, Northern Region, Uganda, Mpigi District, Barclays
Mbale District, Uganda, Eastern Region, Uganda, Islamic University in Uganda, CURE Children's Hospital of Uganda
Mbarara District, Uganda, Kampala, Bishop Stuart University, New York City
Arua District, Uganda, West Nile sub-region, Northern Region, Uganda, Church of Uganda