Arif Habib Corporation

Arif Habib Corporation Limited, also known as the Arif Habib Group, is a Pakistani business conglomerate headquartered in Karachi, Pakistan. 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. In 1994, it incorporated itself as the Arif Habib Securities.

In 2006, the group acquired Rupali Bank and renamed it as Arif Habib Bank.

In 2007, the Arif Habib Group was considered a fairly large financial services conglomerate in Pakistan. 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, the group sold the bank to Suroor Investments for ₨2.7 billion (US$32.5 million) which then merged with Atlas Bank and Mybank to form Summit Bank.

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.

The group currently consists of 13 companies spanning the real estate, financial services, energy, cement, steel and fertiliser production sectors.

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

Subsidiaries

 * Sachal Energy Wind Farm (85.83%)
 * Arif Habib Limited (72.92%)
 * Rayaan Commodities (72.92%)
 * Aisha Steel Mills (16.58%)
 * Fatima Fertilizers (15.19%)
 * Javedan Corporation (10%)
 * Power Cement (5.18%)

Former

 * MCB-Arif Habib Savings and Investments
 * Pakarab Fertilizers

Other Arif Habib Group companies

 * Silk Bank
 * Safe Mix Concrete