Arif Habib Corporation
 | |
| PSX: AHCL | |
| Founded | 1970 |
| Founder | Arif Habib |
| Headquarters | Karachi-74000, Pakistan |
Key people |
|
| Revenue |  Rs. 7.95 billion (US$28 million)[1] (2023) |
 Rs. 3.81 billion (US$13 million)[1] (2023) | |
| Total assets | Rs. 57.78 billion (US$200 million)[1] (2023) |
| Total equity | Rs. 37.18 billion (US$130 million)[1] (2023) |
Number of employees | (2023) |
| Subsidiaries | Sachal Energy Development Limited (85.83%) Arif Habib Limited (72.92%) Rayaan Commodities (72.92%) |
| Website | arifhabib |
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]
The Arif Habib Group initiated its operations as a dedicated capital markets firm in 1970, initially focusing on brokerage services.[3] In 1994, the organisation formalised its structure and became Arif Habib Securities.[3]
In 2006, the group acquired Rupali Bank, subsequently rebranding it as Arif Habib Bank.[3]
By 2007, the Arif Habib Group had emerged as a substantial financial services conglomerate within Pakistan, comprising a significant asset management company, a prominent investment bank, a securities brokerage firm, and a retail bank.[3] The group faced a critical juncture during the global financial crisis of 2008.[3]
In 2009, the group divested the bank to Suroor Investments for Rs. 2.7 billion (US$32.5 million). This bank was later merged with Atlas Bank and Mybank to establish Summit Bank.[3]
During 2010, the group merged its investment subsidiary, Arif Habib Investments, with MCB Asset Management, culminating in the creation of MCB-Arif Habib Savings and Investments Limited.[3]
Presently, the Arif Habib Group encompasses a diverse portfolio of 13 companies spanning various sectors including real estate, financial services, energy, cement, steel, and fertilizer production.[4]
By 2012, the organisation boasted a workforce of over 11,000 employees and achieved an annual revenue of Rs. 100 billion.[4]
Subsidiaries[edit]
- Sachal Energy Wind Farm (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 Arif Habib Group companies[edit]
References[edit]
- ^ a b c d "Arif Habib Annual Report 2023" (PDF). arifhabibcorp.com. Retrieved 8 December 2023.
- ^ a b "Arif Habib Group". www.arifhabib.com.pk.
- ^ a b c d e f g h "Arif Habib Group seeks new post-crisis identity". The Express Tribune (newspaper). 9 September 2010. Retrieved 16 June 2021.
- ^ a b Mangi, Naween A. (30 November 2012). "Pakistan, Land of Entrepreneurs". Bloomberg (business website). Retrieved 16 June 2021.
- ^ "Arif Habib to set up power plant with Chinese funding". The Express Tribune (newspaper). 9 August 2017. Retrieved 16 June 2021.
- ^ Farhan Zaheer (18 January 2017). "Arif Habib Group to invest Rs25b in new cement plant". The Express Tribune (newspaper). Retrieved 16 June 2021.
- ^ "Arif Habib Corp acquires 28% stake in Silkbank". The Express Tribune (newspaper). 9 December 2015. Retrieved 16 June 2021.
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