Mali Housing Bank (fr Banque de l'Habitat du Mali) also known by the acronym BHM was a Malian mortgage institution that was a major actor in the Malian property sector from inception until its absorption by another bank.[1] Founded in 1996, following a restructuring of a now defunct Postal and Savings Bank, BHM, persistently battled a weak balance sheet due to high ratio of non-performing loans, it was later merged with the stronger Mali Solidarity Bank (BMS) in 2016.[2]
History
editChallenges
editTwo years into its formation, the bank was embroiled in governance and inadequate capital challenges. In addition, there was a perception that loans disbursed by the bank were a form of government mortgage subsidy, ten years later, about three-quarters of its loans were non-performing. Many loans to housing developers did not result in completed projects and the firm was constrained by inadequate long term funding.[3] In 2016, BHM merged with the Mali Solidarity Bank, a financial institution with a stronger balance sheet than BHM.
Objectives of the institution
editSource:[3]
- Provide financial support to the housing market in Mali.
- Provision of full banking services
- Manage post office savings and checking accounts.
References
edit- ^ Centre for Affordable Housing Finance in Africa (2017). "Housing Finance in Africa. 2017 Yearbook" (PDF).
- ^ Dept, International Monetary Fund African (2017-07-12). "Mali: Seventh Review Under the Extended Credit Facility Arrangement, and Request for Extension and Augmentation of Access". IMF Staff Country Reports. 2017 (209). doi:10.5089/9781484309384.002.A001 (inactive 1 November 2024).
{{cite journal}}: CS1 maint: DOI inactive as of November 2024 (link) - ^ a b "Technical Note: Financial Sector Assessment Program mission in Malo". 2015.