BHBFC reduces classified loan to 3.80%
The Bangladesh House Building Finance Corporation (BHBFC) has achieved rare success in reducing its classified loans.
On the last day of financial year 2022-23, the amount of classified loans of the institution was only Tk160 crore. The rate of classified loan of BHBFC is only 3.80%, reads a press release.
The classified loans were 4.65% of total loans of the institution in the FY 2021-22. The growth is 12.57% in this regard.
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BHBFC has sanctioned Tk846 crore as house building loan and disbursed Tk6 96 crore for the same in the year, which are the new records for the institution. The growth in both sanctioning and disbursement is more than 18%.
The total loan recovery is also the highest this year since the inception of the institution, which is about Tk716 crore. This year the growth in loan recovery is about 10%.
The state-owned organisation has also achieved its highest-ever profit as a result of record success in all indicators indicative of business objectives. The amount of profit earned in this financial year is about Tk264 crore. In this case the growth rate is about 9%.
This achievement has been possible under the directives of the Financial Institutions Department (FID) of the Ministry of Finance, proper monitoring of the Board of Directors and efficient leadership of the management.
Abdul Mannan, managing director of BHBFC, expressed his sincere congratulations, best wishes and gratitude to all concerned for this achievement.
