Housing Finance Bank

If you’re looking for a reliable and efficient mortgage lender in Uganda, Housing Finance Bank (HFB) is definitely worth considering. Founded in 1967 as a housing finance company, HFB has grown into a fully licensed commercial bank with a focus on mortgage banking services. As of December 2019, HFB was the leading mortgage lender in the country, with 60 percent of all Ugandan mortgage accounts. What sets HFB apart from its competitors is its asset base, valued at USh912.48 billion (US$247 million) as of December 2019, with shareholders’ equity of USh211.92 billion (US$57.3 million). By the end of 2020, the bank’s assets had grown to USh1.11 trillion (US$315 million), with shareholders’ equity standing at USh250.1 billion (approx. US$70 million). In addition, the bank made an after-tax profit of USh20.6 billion (US$5.84 million) in 2020. HFB’s ownership structure is also worth noting. The bank is owned by the Uganda National Social Security Fund (50.0 percent), with the government of Uganda owning 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). In August 2017, the Uganda government and NSSF Uganda each contributed $8.2 million (for a total of $16.4 million) in fresh capital to HFB, enabling the bank to lend to more mortgage borrowers and improve its liquidity. While HFB had planned to list its shares on the Uganda Securities Exchange in 2012, those plans were postponed. Overall, if you’re in the market for a reliable and reputable mortgage lender in Uganda, Housing Finance Bank (HFB) should definitely be on your radar.