Arif Habib Corporation
{{Short description|Corporation in Pakistan}}
{{Infobox company
| name = Arif Habib Corporation Limited
| logo = Arif Habib Group logo.png
| type = Public
| traded_as = {{karse|AHCL}}
| foundation = {{start date and age|1970}}
| location = Karachi-74000, Pakistan
| founder = Arif Habib
| industry = Holding
| key_people = {{ubl|Asadullah Khawaja (chairman)|Arif Habib (CEO)}}
| net_income = {{Increase}} {{PKRConvert|7.820|b}}
| net_income_year = 2024
| equity = {{Increase}} {{PKRConvert|43.049|b}}
| equity_year = 2024
| num_employees = 23
| num_employees_year = 2024
| footnotes = Financials {{as of|2024|6|30|lc=y}}{{cite web|title=Arif Habib Annual Report 2024 |url=https://financials.psx.com.pk/lib/DownloadPDF.php?id=242375 |access-date=30 April 2025}}
| subsid = Sachal Energy Development Limited (85.83%)
Arif Habib Limited (72.92%)
Rayaan Commodities (72.92%)
| website = {{URL|arifhabib.com.pk}}
}}
Arif Habib Corporation Limited, also known as the Arif Habib Group, ({{IPA|ur|ˈaː.rɪf ha.ˈbiːb}} {{respell|AA-rif hah-BEEB}}) is a Pakistani business conglomerate headquartered in Karachi, Pakistan.{{cite web |title=Arif Habib Group |url=https://www.arifhabib.com.pk/about.php |access-date=2017-12-25 |archive-date=2017-12-23 |archive-url=https://web.archive.org/web/20171223104628/http://arifhabib.com.pk/about.php |url-status=live }} The corporation was founded by Pakistani businessman Arif Habib.
History
Arif Habib Group started its operations as a pure capital markets firm in 1970 and was engaged in brokerage business since its inception.{{Cite news|url=https://tribune.com.pk/story/48292/arif-habib-group-seeks-new-post-crisis-identity/|title=Arif Habib Group seeks new post-crisis identity|date=9 September 2010|newspaper=The Express Tribune|access-date=16 June 2021|archive-date=28 May 2014|archive-url=https://web.archive.org/web/20140528184605/http://tribune.com.pk/story/48292/arif-habib-group-seeks-new-post-crisis-identity/|url-status=live}} In 1994, it incorporated itself as the Arif Habib Securities.
In 2006, Arif Habib acquired Rupali Bank and renamed it as Arif Habib Bank.
In 2007, Arif Habib was considered a fairly large financial services conglomerate in Pakistan.{{cite news|url=https://www.bloomberg.com/news/articles/2012-11-29/pakistan-land-of-entrepreneurs|title=Pakistan, Land of Entrepreneurs|first=Naween A.|last=Mangi|work=Bloomberg|date=30 November 2012|accessdate=16 June 2021|archive-date=6 March 2021|archive-url=https://web.archive.org/web/20210306184809/https://www.bloomberg.com/news/articles/2012-11-29/pakistan-land-of-entrepreneurs|url-status=live}} It owned one large asset management company, a big investment bank, a securities brokerage firm and a retail bank. During the 2008 worldwide financial crisis, it was at brink of collapse.
In 2009, Arif Habib sold the bank to Suroor Investments for {{PKR|2.7 billion}} ({{USD|32.5 million}}) which then merged with Atlas Bank and Mybank to form Summit Bank.
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.
Subsidiaries
- Sachal Energy Development Limited (85.83%){{cite news|url=https://tribune.com.pk/story/1477044/arif-habib-set-power-plant-chinese-funding/|title=Arif Habib to set up power plant with Chinese funding|newspaper=The Express Tribune|date=9 August 2017|access-date=16 June 2021|archive-date=12 November 2020|archive-url=https://web.archive.org/web/20201112010053/https://tribune.com.pk/story/1477044/arif-habib-set-power-plant-chinese-funding|url-status=live}}
- Arif Habib Limited (72.92%)
- Rayaan Commodities (72.92%)
- Safe Mix Concrete (32.40%)
- Javedan Corporation (19.84%)
- Aisha Steel Mills (13.8%)
- Fatima Fertilizers (15.19%)
- Power Cement (6.50%){{cite news|url=https://tribune.com.pk/story/1299566/arif-habib-growup-inject-rs25b-cement-plant/|title=Arif Habib Group to invest Rs25b in new cement plant|newspaper=The Express Tribune|date=18 January 2017|access-date=16 June 2021|author=Farhan Zaheer|archive-date=10 September 2018|archive-url=https://web.archive.org/web/20180910170143/https://tribune.com.pk/story/1299566/arif-habib-growup-inject-rs25b-cement-plant/|url-status=live}}
=Former=
- MCB-Arif Habib Savings and Investments
- Pakarab Fertilizers
- Silk Bank{{cite news|url=https://tribune.com.pk/story/1006469/arif-habib-corp-acquires-28-stake-in-silkbank/|title=Arif Habib Corp acquires 28% stake in Silkbank|date=9 December 2015|accessdate=16 June 2021|newspaper=The Express Tribune|archive-date=4 July 2019|archive-url=https://web.archive.org/web/20190704133929/https://tribune.com.pk/story/1006469/arif-habib-corp-acquires-28-stake-in-silkbank/|url-status=live}}
References
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Category:Conglomerate companies of Pakistan
Category:Companies based in Karachi
Category:2001 initial public offerings
Category:Pakistani companies established in 1970
Category:Holding companies established in 1970