Arif Habib Corporation

Arif Habib Corporation Limited, also known as Arif Habib Group, (عارف حبیب کارپوریشن) is a Pakistani business conglomerate company based in Karachi, Pakistan.[2] It was founded by Pakistani businessman Arif Habib.[2]

Arif Habib Group
PSX: AHCL
Founded1970 (1970)
FounderArif Habib
HeadquartersKarachi, Pakistan
RevenueUS$1 Billion[1]
Websitewww.arifhabib.com.pk

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.[1]

As of 2012, it had over 11,000 employees and an annual revenue of Rs. 100 billion.[1]

Companies
  • Aisha Steel Mills
  • Sachal Energy Wind Farm[4]
  • Silk Bank[5]
  • Power Cement[6]
  • Arif Habib Corporation
  • Arif Habib Consultancy
  • Arif Habib Limited
  • MCB-Arif Habib Savings and Investments
  • Fatima Fertilizers [3]
  • Pakarab Fertilizers
  • Javedan Corporation
  • Arif Habib Commodities

References
  1. Mangi, Naween A. (30 November 2012). "Pakistan, Land of Entrepreneurs". Bloomberg (business website). Retrieved 16 June 2021.
  2. "Arif Habib Group". www.arifhabib.com.pk.
  3. "Arif Habib Group seeks new post-crisis identity". The Express Tribune (newspaper). 9 September 2010. Retrieved 16 June 2021.
  4. "Arif Habib to set up power plant with Chinese funding". The Express Tribune (newspaper). 9 August 2017. Retrieved 16 June 2021.
  5. "Arif Habib Corp acquires 28% stake in Silkbank". The Express Tribune (newspaper). 9 December 2015. Retrieved 16 June 2021.
  6. Farhan Zaheer (18 January 2017). "Arif Habib Group to invest Rs25b in new cement plant". The Express Tribune (newspaper). Retrieved 16 June 2021.
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