On 17th November 2003, the Bank was issued with a universal
banking license by the Bank of Ghana thus, evolving into a
fully fledged universal bank. HFC Bank (Ghana) limited
currently provides a wide range of universal banking
services namely: mortgage banking, commercial banking,
investment banking, real estate services, microfinance
operations and private equity/venture capital fund
management. These make HFC Bank the most diversified
universal banking institution in the Ghanaian Banking
industry.
Leading
Mortgage Finance Institution in Ghana
HFC remains the leading mortgage provider in the country.
The Bank has over 30% share of the mortgage industry.
Establishment of the First Collective Investment Scheme in
Ghana
HFC is reputed for establishing the first Collective
Investment Scheme in Ghana in 1991, and now manages four
funds targeting different sectors of the economy. In July
1991, HFC successfully promoted the first Unit Trust (a
collective investment scheme) in the country, which is
currently one of the largest licensed collective investment
schemes in Ghana. In 1995, the subsidiary company also
successfully promoted the first Real Estate Investment Trust
(REIT), which it manages to date. To date HFC Investments
manages four collective investment schemes namely HFC Unit
Trust, HFC Equity Trust, HFC REIT,HFC Future Plan.
Strong
Investment Banking
In 1993, it incorporated Home Finance Investment Fund
Limited (HFIF) renamed HFC Investments Services Limited
(HFC-ISL), a wholly owned subsidiary, to undertake the
business of property and funds management among others. The
company has evolved as a strong brand in the investment
banking industry with in Managed Funds, Financial Advisory,
Brokerage and Asset Management departments.
Pioneer
in Bond Issuance
In September 1996, HFC introduced the first corporate bonds
on the Ghana Stock Exchange by undertaking a shelf
registration of USD35 million bonds on the Exchange. Between
1996 and 2001, out of the USD35.0 million Shelf-registered
bonds, a total of USD14.2 million bonds have been issued in
tranches. The Bank further made an additional GBP1.2 million
shelf-registered bonds on the GSE in August 2001.
Consistent Dividend Payment and Capital Appreciation
From an IPO price of GH¢0.01 (1 Ghana pesewa – formerly
¢100) per share in 1995, the Bank’s share price stood at
GH¢0.45 (45 Ghana pesewas) by end of year 2011. HFC has paid
dividends consistently since 1993.
As at December 2012 the total issued shares of the Bank was
183.66 million ordinary shares and Market Capitalization of
GH¢ 133.24 million (US$71.63 million).
Expanded
Branch Network
From one (1) branch in 2003, HFC Bank currently has
twenty-six (26) fully networked branches in the Greater
Accra, Ashanti, Brong Ahafo, Northern, Eastern, Central and
Western Regions. The Bank also has thirty (30) on-site and
off-site Automatic Teller Machines (ATMs).
Providing Affordable Housing for Public Sector Workers
In November 2007, HFC was appointed Manager of the Public
Sector Employees’ Housing Scheme put together by HFC Bank
and the Government of Ghana aimed at providing affordable
housing for public sector workers. The bank has financed
over 300 mortgages under the scheme.
Strategic Alliances and Technical Assistance Programmes
Under a Technical Agreement, HFC Bank worked with the
Central Bank of The Gambia to establish a mortgage
institution in The Gambia in 1995.
HFC Bank, through a technical assistance programme, assisted
the National Social Security and Insurance Trust (NASSIT),
the National Pension Fund of Sierra Leone to establish a
mortgage finance company in Sierra Leone in 2008.
At the request of private Estate Development Company in
Liberia, the Bank is currently conducting an opportunity
study to assess the feasibility of establishing a mortgage
finance company in Liberia.
HFC Bank has strategic alliances in neighbouring West
African countries such as Nigeria, The Gambia, Sierra Leone
and Liberia.