Company type | Public |
---|---|
PSX: AHCL | |
Founded | 1970 |
Founder | Arif Habib |
Headquarters | Karachi-74000, Pakistan |
Key people |
|
Revenue | Rs. 7.95 billion (US$28 million) (2023) |
Rs. 3.81 billion (US$13 million) (2023) | |
Total assets | Rs. 57.78 billion (US$200 million) (2023) |
Total equity | Rs. 37.18 billion (US$130 million) (2023) |
Number of employees | (2023) |
Subsidiaries | Sachal Energy Development Limited (85.83%) Arif Habib Limited (72.92%) Rayaan Commodities (72.92%) |
Website | arifhabib |
Footnotes / references Financials as of 30 June 2023[update][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]
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]