House Building Finance Company (HBFC), Pakistan’s pioneering specialized housing finance institution with a legacy spanning over 70 years, has officially signed a Term Finance Facility Agreement with HBL, Pakistan’s leading bank on January 01, 2024.
Under the terms of this agreement, HBL becomes the first commercial bank to provide PKR 1 billion to HBFC payable over 5 years, earmarked for the expansion of HBFC’s home finance portfolio. This strategic initiative will enable HBFC to effectively pursue its mission of making accessible and affordable housing loans available to its targeted client base.
Faisal N. Lalani, Head of International Banking – HBL commenting on the alliance expressed, “HBL consistently seeks opportunities for meaningful collaboration. We recognize HBFC as a trustworthy partner for fostering growth in the housing finance sector. This partnership underscores our shared commitment to advancing housing finance solutions in the country, contributing to the overall development.”
Speaking at the ceremony, Imran Ahad, Managing Director & CEO – HBFC stated, “We are thankful to HBL for extending this financing arrangement to HBFC. This represents another step in the ever-strengthening relationship between the two organizations. The favorable terms of this financing agreement will certainly boost HBFC’s efforts to expand the Home Finance proposition, reaching an even broader client base.”
Source: IBP