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.[4]

Housing Finance Bank
TypePrivate
IndustryFinancial services
Founded1967 (1967)
Headquarters4 Wampewo Avenue
Kololo, Kampala, Uganda[1]
Key people
David Opiokello
Chairman
Michael Mugabi
Acting CEO[2]
ProductsLoans, checking, savings, investments, debit cards, mortgages
RevenueAftertax:UGX:22.5 billion (US$6 million) (2019)[3]
Total assetsUGX:912.48 billion (US$$247 million) (2019)[3]
WebsiteHomepage

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 2019, HFB had an asset base valued at USh912.48 billion (US$247 million), with shareholders' equity of USh211.92 billion (US$57.3 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.[3]

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).[5]

HFB had planned to list its shares on the Uganda Securities Exchange in 2012,[6] however, those plans were postponed.[7]

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.[8] 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.[9] In July 2009, HFB opened a branch in Arua, its eighth in the country.[10]

As of April 2014, HFB maintained branches at the following locations:[11]

  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[12]
  11. Mbale Branch - Bugisu Cooperative Union House, 2 Court Road, Mbale
  12. Mbarara Branch - Classic Hotel Building, 57 High Street, Mbarara
  13. Mukono Branch - Mukono
  14. Najjanankumbi Branch - Pelican House, 1032 Entebbe Road, Najjanankumbi
  15. Nakasero Branch - 34A Nakasero Road, Nakasero, Kampala
  16. Namuwongo Branch -38 Kisugu Road, Namuwongo, Kampala
  17. Ndeeba Branch - 94-96 Masaka Road, Ndeeba, Kampala
  18. Ntinda Branch - 1 Kimera Road, Ntinda
  19. Ovino Branch - Ovino Market Mall, 22, Kibuga Road, Kisenyi, Kampala
  20. Tororo Branch - 11 Mbale Road, Tororo

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
  1. Juuko, Sylvia (15 November 2010). "Housing Finance Gets 15 Billion Mortgage Fund". New Vision. Retrieved 25 April 2014.
  2. Nakaweesi, Dorothy (29 October 2018). "Katamba quits Housing Finance, linked to dfcu". Daily Monitor. Kampala. Retrieved 29 October 2018.
  3. Housing Finance Bank (26 April 2020). "Summarised Financial Statements For The Year Ended 31 December 2019" (PDF). Kampala: Housing Finance Bank. Retrieved 9 May 2020.
  4. BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Archived from the original (PDF) on 22 December 2015. Retrieved 16 December 2015.
  5. Housing Finance Bank (4 June 2018). "Background of Housing Finance Bank: Ownership". Kampala: Housing Finance Bank. Retrieved 4 June 2018.
  6. Kulabako, Faridah (17 November 2011). "Housing Finance Bank to List Shares At Securities Exchange". Daily Monitor. Retrieved 25 April 2014.
  7. Oketch, Martin Luther (17 February 2015). "They Promised To Sell Shares, What Happened?". Daily Monitor. Kampala. Retrieved 17 February 2015.
  8. Oneal, Nicholas (3 March 2009). "Housing Finance Goes To Kikuubo". New Vision. Retrieved 25 April 2014.
  9. Odomel, James (25 June 2009). "Housing Finance Opens Mbale Branch". New Vision. Retrieved 25 April 2014.
  10. Drasimaku, Richard (22 July 2009). "Housing Finance Bank Enters Arua". The Observer (Uganda). Retrieved 25 April 2014.
  11. "Branches of Housing Finance Bank". Housing Finance Bank. Retrieved 25 April 2014.
  12. "BOU Chief Urges Banks To Lower Interest Rates To Ease Borrowing". New Vision. 11 April 2011. Retrieved 25 April 2014.
  13. Housing Finance Bank (10 December 2018). "Members of the Board of Housing Finance Bank". Kampala: Housing Finance Bank. Retrieved 10 December 2018.
  14. Kulabako, Faridah (6 January 2014). "Employers' Body To Introduce Training Levy". Daily Monitor. Kampala. Retrieved 25 April 2014.
  15. Housing Finance Bank (10 December 2018). "Management Team At Housing Finance Bank". Kampala: Housing Finance Bank. Retrieved 10 December 2018.
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