Call Us Now
Email Us
Connect on WhatsApp
Apply Now

House Building Finance Company – HBFC

HBFC Achieves Record Financial Results Amidst Challenging Economic Environment and Looks Ahead to Privatization

25 March, 2024: House Building Finance Company (HBFC) is proud to announce a record operating profit of PKR 3.0 billion as per its 2023 Financial Report, marking a significant milestone for the state-owned enterprise and reflecting a remarkable turnaround over the past three years. The management’s focused and concerted efforts resulted in an increase of 82 % in its operating profit over the last year; continuing a remarkable trend where its profitability has increased three-fold over the past three years. Its profit after tax stood at PKR 2.3 billion; an increase of 53 % over the last year. Despite an extremely challenging operating and economic environment, HBFC was able to achieve a reversal of loan loss provisioning by more than PKR 300 million, a unique achievement across the sector in 2023. In recent years, the company’s NPL portfolio has been reduced by more than 30 %, all due to disciplined recovery efforts.

Such milestones have been achieved in a testing economic environment, where despite record-high inflation and resultant spike in mark-up rates, HBFC continued to provide fresh housing loans to meet the demands of its customers and also launched special campaigns targeting overseas Pakistanis and female customers for their financial inclusion and empowerment through home ownership. In the last three years, HBFC has disbursed fresh housing loans in excess of PKR 10.0 billion. During 2023, in order to lessen the impact of high mark-up rates, HBFC also offered a relief scheme to its existing customers to help them cope with the additional burden. More recently, HBFC also started offering subsidized loans for solar panels under its ‘Ghar Ujala’ scheme as part of its green banking initiatives.






Scroll to Top