Arif Habib Corporation

Arif Habib Corporation Limited
Company typePublic
PSX: AHCL
Founded1970; 54 years ago (1970)
FounderArif Habib
HeadquartersKarachi-74000, Pakistan
Key people
RevenueIncrease Rs. 7.95 billion (US$28 million) (2023)
Decrease Rs. 3.81 billion (US$13 million) (2023)
Total assetsIncrease Rs. 57.78 billion (US$200 million) (2023)
Total equityIncrease Rs. 37.18 billion (US$130 million) (2023)
Number of employees
 (2023)
SubsidiariesSachal Energy Development Limited (85.83%)
Arif Habib Limited (72.92%)
Rayaan Commodities (72.92%)
Websitearifhabib.com.pk
Footnotes / references
Financials as of 30 June 2023[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

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, the group acquired Rupali Bank and renamed it as Arif Habib Bank.[3]

In 2007, the Arif Habib Group was considered a fairly large financial services conglomerate in Pakistan.[3] 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, the group 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, the group merged its investment arm, Arif Habib Investments, with MCB Asset Management to form the MCB-Arif Habib Savings and Investments Limited.[3]

The group currently consists of 13 companies spanning the real estate, financial services, energy, cement, steel and fertiliser production sectors.[4]

As of 2012, it had over 11,000 employees and an annual revenue of Rs. 100 billion.[4]

Subsidiaries

  • 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

  • MCB-Arif Habib Savings and Investments
  • Pakarab Fertilizers

Other companies

References

  1. ^ "Arif Habib Annual Report 2023" (PDF). arifhabibcorp.com. Retrieved 8 December 2023.
  2. ^ a b "Arif Habib Group".
  3. ^ a b c d e f g h i "Arif Habib Group seeks new post-crisis identity". The Express Tribune. 9 September 2010. Retrieved 16 June 2021.
  4. ^ a b Mangi, Naween A. (30 November 2012). "Pakistan, Land of Entrepreneurs". Bloomberg. Retrieved 16 June 2021.
  5. ^ "Arif Habib to set up power plant with Chinese funding". The Express Tribune. 9 August 2017. Retrieved 16 June 2021.
  6. ^ Farhan Zaheer (18 January 2017). "Arif Habib Group to invest Rs25b in new cement plant". The Express Tribune. Retrieved 16 June 2021.
  7. ^ "Arif Habib Corp acquires 28% stake in Silkbank". The Express Tribune. 9 December 2015. Retrieved 16 June 2021.
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