Home Finance Company
Encyclopedia
Home Finance Company, commonly referred to as HFC Bank, is a major commercial bank in Ghana
, West Africa
.
. In 1994 HFC Bank became a publicly traded company. In 1995 it became listed on the Ghana Stock Exchange
. The stock of the bank is a component of the exchange's GSE All-Share Index
. According to the bank's website, the bank issued the Ghana Stock Exchange's first-ever corporate bond
, in 1996.
HFC Bank provides mortgage financing, commercial banking and investment banking services.
is owned by the following corporate entities and individuals:
{| style="font-size:100%;"
|-
| width="100%" align="center" | HFC Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1|| SSNIT
||
|-
|2|| Union Bank of Nigeria Plc.
||
|-
|3|| Ghana Union Assurance Company Limited||
|-
|4|| State Insurance Company of Ghana||
|-
|5|| Financial Investment Trust||
|-
|6|| MIHL/Union Homes Savings & Loan (Nigeria)||
|-
|7|| MIHL/Union Homes Pension Find (Nigeria)||
|-
|8|| Ghana Reinsurance Company||
|-
|9|| HFC Unit Trust||
|-
|10|| Other Institutional & Individual Investors||
|-
||| T O T A L||100.00
|-
|}
, the capital city of Ghana. The branches of the bank and its subsidiary companies include the following locations:
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
, West Africa
West Africa
West Africa or Western Africa is the westernmost region of the African continent. Geopolitically, the UN definition of Western Africa includes the following 16 countries and an area of approximately 5 million square km:-Flags of West Africa:...
.
Overview
The bank was created in 1990 as a shell company within Merchant Bank (Ghana)Merchant bank
A merchant bank is a financial institution which provides capital to companies in the form of share ownership instead of loans. A merchant bank also provides advisory on corporate matters to the firms they lend to....
. In 1994 HFC Bank became a publicly traded company. In 1995 it became listed on the Ghana Stock Exchange
Ghana Stock Exchange
The Ghana Stock Exchange is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently has around 30 listed companies and 2 corporate bonds. All types of securities can be listed. Criteria for listing include capital adequacy,...
. The stock of the bank is a component of the exchange's GSE All-Share Index
GSE All-Share Index
The principal stock index of the Ghana Stock Exchange or GSE is currently the GSE All-Share Index. This index is calculated from the values of each of the market's listings.-Market listings:-External links:**...
. According to the bank's website, the bank issued the Ghana Stock Exchange's first-ever corporate bond
Corporate bond
A corporate bond is a bond issued by a corporation. It is a bond that a corporation issues to raise money in order to expand its business. The term is usually applied to longer-term debt instruments, generally with a maturity date falling at least a year after their issue date...
, in 1996.
HFC Bank provides mortgage financing, commercial banking and investment banking services.
Ownership
As of December 2003, the bank's stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
is owned by the following corporate entities and individuals:
{| style="font-size:100%;"
|-
| width="100%" align="center" | HFC Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1|| SSNIT
SSNIT
The SSNIT, or the Social Security and National Insurance Trust, is an important agency of the government of Ghana. The "job description" of the SSNIT, according to its website, is to administrate the National Pension Scheme...
||
|-
|2|| Union Bank of Nigeria Plc.
Union Bank of Nigeria
Union Bank of Nigeria Plc., commonly known as Union Bank of Nigeria, is a commercial bank in Nigeria.-Overview:Union Bank is a large commercial bank, serving individuals, small and medium-sized companies, as well as large corporations and organizations...
||
|-
|3|| Ghana Union Assurance Company Limited||
|-
|4|| State Insurance Company of Ghana||
|-
|5|| Financial Investment Trust||
|-
|6|| MIHL/Union Homes Savings & Loan (Nigeria)||
|-
|7|| MIHL/Union Homes Pension Find (Nigeria)||
|-
|8|| Ghana Reinsurance Company||
|-
|9|| HFC Unit Trust||
|-
|10|| Other Institutional & Individual Investors||
|-
||| T O T A L||100.00
|-
|}
Branch Network
HFC Bank has its headquarters in AccraAccra
Accra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
, the capital city of Ghana. The branches of the bank and its subsidiary companies include the following locations:
- Head Office - Sixth Avenue, North Ridge, AccraAccraAccra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
- Ebankese Branch - Sixth Avenue, North Ridge, Accra
- Accra Central Branch - Kwame Nkrumah Avenue, Accra
- Ridge Branch - 6 Sixth Avenue, West Ridge, Accra
- Tema Branch - Asafoatse Kotei Commercial Complex, TemaTemaTema is a city on the Atlantic coast of Ghana, lying east of the Ghanaian capital city, Accra, in the region of Greater Accra. As of 2005, Tema had a population of 209,000. The Greenwich Meridian passes directly through the city...
- Legon Branch - Noguchi Road, University of Ghana, LegonLegonLegon, a suburb of the Ghanaian capital city Accra, is situated about twelve kilometres north-east of the city center. Legon is home to the main campus of the University of Ghana. The word "Legon" is derived from the indigenous Ga language of the people of Greater Accra; NI-LEY GON therefore "Hill...
- Kumasi Branch - 571 Asomfo Road, KumasiKumasiKumasi is a city in southern central Ghana's Ashanti region. It is located near Lake Bosomtwe, in the Rain Forest Region about northwest of Accra. Kumasi is approximately north of the Equator and north of the Gulf of Guinea...
- HFC Investment Services Limited - 6 Sixth Avenue, West Ridge, Accra
- Tudu Branch - St. Francis Building, Kinbu Road, Tudu
- Abossey Okai Branch
- Techiman Branch
- HFC Realty Limited
- Agbogbloshie Branch - Old Fadama Road
- Tamale Branch - 8 Daboya Street, TamaleTamaleA tamale — or more correctly tamal — is a traditional Latin American dish made of masa , which is steamed or boiled in a leaf wrapper. The wrapping is discarded before eating...
- KNUST Kumasi Branch - KNUST Commercial Area, KumasiKumasiKumasi is a city in southern central Ghana's Ashanti region. It is located near Lake Bosomtwe, in the Rain Forest Region about northwest of Accra. Kumasi is approximately north of the Equator and north of the Gulf of Guinea...
- Koforidua Branch
- Baatsona Branch - Spintex Road
- Ashaiman Branch
- Takoradi Branch - Market Circle
- Kasoa Branch
- Post Office Square Branch
- Adabraka Branch
- Suame Branch - Suame Magazine
- Swedru Branch
- Cape Coast Branch - Tantri
- Winneba Branch
- Asamankese Branch