DBH Finance profit grows by 40% in Jul-Sep

DBH Finance PLC, a non-bank financial institution (NBFI) focused on the housing sector, reported a profit of Tk33 crore from July to September 2024, marking a 40% growth compared to the same period the previous year.

At the same time, the NBFI reported a growth of 18% in its operating profit for the third quarter and 22% growth in the first nine months of 2024, according to its unaudited report.

Its earnings per share (EPS) surged to Tk1.68 for the third quarter, which is up from Tk1.20 in the corresponding quarter of the previous year.

The EPS for the January to September period stood at Tk3.73 compared to Tk3.66 for the same period last year.

According to its press release, as of the end of September 2024, DBH's loan disbursement increased by 18% over the previous year resulting from its geographic and product line expansions.

The housing finance company introduced shariah-compliant products under its Islamic Financing wing in May 2023 and opened a few new branches covering all divisional cities of the country.

Moreover, the company achieved a robust 11.20% growth in core deposits from individual and corporate customers from January to September 2024 compared to the first nine months of 2023.

The non-performing loan ratio, although slightly higher than previous levels and marked at 0.98%, remains well below the industry average, underscoring the company's effective risk management strategies, its press release read.

Nasimul Baten, managing director and CEO of DBH, said, "The financial results showcased the company's ability to execute efficiently, despite volatile macroeconomic conditions. Our focus on customer-centricity, operational efficiency, and portfolio quality sets DBH Finance apart in a competitive landscape."