BHBFC posts net profit of Tk 1.95b

Bangladesh House Building Finance Corporation (BHBFC) provisionally posted a net profit of about Tk 1.95 billion (195 crore) in the last fiscal (2013-14), according to a statement of the state-owned corporation, reports UNB.
The BHBFC profit was up by Tk 57.8 million from over Tk 1.88 billion posted in the previous fiscal (2012-13), the statement added.
During the fiscal 2013-14, the BHBFC sanctioned house building loans to the tune of over Tk 2.85 billion and disbursed Tk 3.88 billion including a part of the previous year. In the previous fiscal the corporation sanctioned and disbursed loans to the tune of Tk 5.39 billion and Tk 4.37 billion respectively.
In the last fiscal year the recoverable amount was Tk 5.38 billion. Of the amount, Tk 4.62 billion was recovered.
The state of loan recovery has improved significantly. The rate of classified loan was about 6.50 per cent against 9.25 per cent in the fiscal 2012-13.