Thursday, 18 August, 2022

Lowest-Ever CL Loans, Highest-Ever Profit

Bangladesh House Building Finance Corporation (BHBFC) gained a record success in achieving or exceeding targets in the financial year (FY) 2021-22.

The organization made an ever-best achievement in 2020-21. All records, previously made, have been exceeded in the year ended on 30th June 2022. The sole state-owned institution providing home loans and investment across the country has achieved this success in almost every indicator like reducing classified loans at a minimum level, loan sanctioning and disbursement, loan recovery, resolving court cases and overall audit objections in 2021-22.  BHBFC reduced its classified loans to 4.72 per cent which is the lowest among state-owned banks and financial institutions. BHBFC Managing Director (MD) Md. Afzal Karim said that, it has become possible for proper leadership, effective monitoring and supervision at all levels and also for engaging all employees to achieve this success.

BHBFC set targets of sanctioning and disbursing an amount of Tk. 700 crore and 600 crore respectively for the FY 2021-22. By the year, the organization sanctioned Tk. 715 crore to 1927 new borrowers and disbursed Tk. 589 crore respectively. The percentage of loan recovery is 96.56 against total recoverable loans. Resolving court cases and overall audit objections BHBFC has achieved the success of gaining the percentage of 179 and 113 respectively. For all of those achievements BHBFC would be able to gain a net profit (before tax) of Tk. 230 crore, the organization MD hopped.