DBH profit grows 49% in 3 quarters

Delta Brac Housing Finance Corporation (DBH) has posted a 49% growth in net profit in the January-September period this year riding on gains from capital market investments and a significant decline in cost of funds.

The non-bank financial institution said on Sunday its profit rose to Tk81.12 crore, from Tk54.57 crore in the same period the previous year.

In the first nine months, the earnings per share (EPS) stood at Tk4.58, which was Tk3.08 last year.

According to its financials, the bank's net interest income increased by 16% to Tk23.06 crore thanks mainly to a drop in the cost of funds.  Its investment income rose to Tk10.22 crore, against Tk59 lakh only in 2020.

It also said it earned Tk4.07 crore more from fees and charges during the first nine months this year over the same period last year.

Since its inception in 1996, for the last 25 years, the company worked as a specialised housing finance institution and registered commendable growth in creating home ownership in the country.

In its disclosure, the non-bank financial institution said its board of directors approved the proposal to increase authorised capital from Tk200 crore to Tk400 crore.

It also said the directors also approved the name change proposal from "Delta Brac Housing Finance Corporation Ltd" to "DBH Finance PLC".

Both the decisions are subject to approval from regulatory authorities and general shareholders. 

In a press release, it said, DBH has a solid capital adequacy ratio (CAR) of 25% and return of equity (ROE) stands at 16% as of 30 September 2021.