DBH rated highest \\\'AAA\\\' for 8th consecutive year

Delta Brac Housing Finance Corporation Ltd. (DBH) has been rated 'AAA' (Triple A), topmost of the rating scale for long term and ST-1 for short term for the eighth consecutive year.

Mr. Hamidul Huq, Managing Director of Credit Rating Agency of Bangladesh (CRAB) recently handed over the Credit Rating Report of the company to Mr. Q.M. Shariful Ala, Managing Director and Chief Executive Officer (CEO) of DBH at a function held at the latter's corporate office in Gulshan, Dhaka. Senior officials of DBH and CRAB were present at the function.

CRAB's independent Rating Committee (RC) comprising of reputed financial experts of the country awarded this highest rating on the basis of in-depth qualitative and quantitative analysis of the audited financials of the company and other relevant information. The credit rating AAA reflects the company's extremely strong capacity to meet financial commitment sand highest quality with minimal credit risk.

The CRAB rating report stated that DBH has successfully maintained excellence in operational areas including capital adequacy, asset quality with lowest level of non-performing loans, operational efficiency, management strength, corporate governance and business franchise as a specialist Housing Finance Institution. On the backdrop of difficult business environment, the quality of assets of DBH also continues to be strong with non-performing loans remaining below half percent which is the lowest in the industry coupled with consistent growth in asset size and profitability and this has actually helped DBH in achieving the highest AAA credit rating for the eighth consecutive year, it highlighted.

While receiving the rating, Mr. Shariful Ala said "we are delighted to have accomplished this major achievement of being rated as the highest rated entity among all the banks and financial institutions of the country for eight successive years. This rare accomplishment is a reflection of our financial strength, efficiency and strong governance."

"Till date, we have disbursed housing loan in excess of Tk. 4950 crore in our efforts to expand home ownership in the country. Our total assets presently exceed Tk. 3,100 crore and recently our fixed deposit base crossedthe Tk. 2,000 crore mark," he said adding "We thank all our stakeholders for their active support in attaining this prestigious rating once again".