Arif Habib Corporation
 | |
| Company type | Public |
|---|---|
| PSX: AHCL | |
| Founded | 1970 |
| Founder | Arif Habib |
| Headquarters | Karachi-74000, Pakistan |
Key people |
|
| Revenue |  Rs. 7.95 billion (US$28 million) (2023) |
 Rs. 3.81 billion (US$13 million) (2023) | |
| Total assets | Rs. 57.78 billion (US$200 million) (2023) |
| Total equity | Rs. 37.18 billion (US$130 million) (2023) |
Number of employees | (2023) |
| Subsidiaries | Sachal Energy Development Limited (85.83%) Arif Habib Limited (72.92%) Rayaan Commodities (72.92%) |
| Website | arifhabib |
| Footnotes / references Financials as of 30 June 2023[update][1] | |
Arif Habib Corporation Limited, also known as the Arif Habib Group, (Urdu: عارف حبیب کارپوریشن) is a Pakistani business conglomerate headquartered in Karachi, Pakistan.[2] The corporation was founded by Pakistani businessman Arif Habib.[2]
History
[edit]Arif Habib Group started its operations as a pure capital markets firm in 1970 and was engaged in brokerage business since its inception.[3] In 1994, it incorporated itself as the Arif Habib Securities.[3]
In 2006, Arif Habib acquired Rupali Bank and renamed it as Arif Habib Bank.[3]
In 2007, Arif Habib was considered a fairly large financial services conglomerate in Pakistan.[3][4] It owned one large asset management company, a big investment bank, a securities brokerage firm and a retail bank.[3] During the 2008 worldwide financial crisis, it was at brink of collapse.[3]
In 2009, Arif Habib sold the bank to Suroor Investments for Rs. 2.7 billion (US$32.5 million) which then merged with Atlas Bank and Mybank to form Summit Bank.[3]
In 2010, Arif Habib merged its investment arm, Arif Habib Investments, with MCB Asset Management to form the MCB-Arif Habib Savings and Investments Limited.[3]
Subsidiaries
[edit]- Sachal Energy Development Limited (85.83%)[5]
- Arif Habib Limited (72.92%)
- Rayaan Commodities (72.92%)
- Aisha Steel Mills (16.58%)
- Fatima Fertilizers (15.19%)[3]
- Javedan Corporation (10%)
- Power Cement (5.18%)[6]
Former
[edit]- MCB-Arif Habib Savings and Investments
- Pakarab Fertilizers
Other companies
[edit]References
[edit]- ^ "Arif Habib Annual Report 2023" (PDF). arifhabibcorp.com. Retrieved 8 December 2023.
- ^ a b "Arif Habib Group". Archived from the original on 2017-12-23. Retrieved 2017-12-25.
- ^ a b c d e f g h i "Arif Habib Group seeks new post-crisis identity". The Express Tribune. 9 September 2010. Archived from the original on 28 May 2014. Retrieved 16 June 2021.
- ^ Mangi, Naween A. (30 November 2012). "Pakistan, Land of Entrepreneurs". Bloomberg. Archived from the original on 6 March 2021. Retrieved 16 June 2021.
- ^ "Arif Habib to set up power plant with Chinese funding". The Express Tribune. 9 August 2017. Archived from the original on 12 November 2020. Retrieved 16 June 2021.
- ^ Farhan Zaheer (18 January 2017). "Arif Habib Group to invest Rs25b in new cement plant". The Express Tribune. Archived from the original on 10 September 2018. Retrieved 16 June 2021.
- ^ "Arif Habib Corp acquires 28% stake in Silkbank". The Express Tribune. 9 December 2015. Archived from the original on 4 July 2019. Retrieved 16 June 2021.