Arif Habib Corporation
Corporation in Pakistan
From Wikipedia, the free encyclopedia
Arif Habib Corporation Limited, also known as the Arif Habib Group, (Urdu pronunciation: [ˈaː.rɪf ha.ˈbiːb] AA-rif hah-BEEB) is a Pakistani business conglomerate headquartered in Karachi, Pakistan.[2] The corporation was founded by Pakistani businessman Arif Habib.[2]
 | |
| Type | Public |
|---|---|
| PSX: AHCL | |
| Industry | Holding |
| Founded | 1970 |
| Founder | Arif Habib |
| Headquarters | Karachi-74000, Pakistan |
Key people |
|
 Rs. 7.820 billion (US$28 million) (2024) | |
| Total equity | Rs. 43.049 billion (US$150 million) (2024) |
Number of employees | 23 (2024) |
| Subsidiaries | Sachal Energy Development Limited (85.83%) Arif Habib Limited (72.92%) Rayaan Commodities (72.92%) Pakistan International Airlines (100%) |
| Website | arifhabib |
| Footnotes Financials as of 30 June 2024[update][1] | |
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, 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
- Sachal Energy Development Limited (85.83%)[5]
- Pakistan International Airlines (100%)[6]
- Arif Habib Limited (72.92%)
- Rayaan Commodities (72.92%)
- Safe Mix Concrete (32.40%)
- Javedan Corporation (19.84%)
- Aisha Steel Mills (13.8%)
- Fatima Fertilizer Company (15.19%)[3]
- Power Cement (6.50%)[7]