Economic Reporter :
Bangladesh House Building Finance Corporation (BHBFC) earned Tk 168.96 crore profit in the fiscal year 2018-19 (FY19) which was Tk 12.67 crore higher than the previous fiscal 2017-18.
In the FY19, the corporation allocated Taka 553.06 crore as credit which was Tk 401.61 crore in the fiscal 2017-18, according to a press release.
The recovery of loan was Tk 529.33 crore in the FY19 which was Tk 506.51 crore in the previous fiscal. In FY19, classified loan abated to 6.62 per cent which was 1.06 per cent lower than the previous fiscal.
The BHBFC is a specialised public financial institution that finances the construction and renovation of houses and purchasing residential apartments in across the country.
The institution was set up in 1973 under presidential orders and it gives loans for only individual home construction and has faced criticism for giving loans mostly to government employees.
All inherited assets and liabilities of the erstwhile House Building Finance Corporation were vested in the reconstituted BHBFC. Until March 2009 the authorised and paid up capital of BHBFC stood at Tk 1100 million and Tk 973 million respectively.
The government arranges entire paid up capital. Current paid up capital is mobilised through sale of debentures guaranteed by the government to Bangladesh Bank, National Commercial Banks NCBs, private commercial banks and Insurance Corporation.
Bangladesh House Building Finance Corporation (BHBFC) earned Tk 168.96 crore profit in the fiscal year 2018-19 (FY19) which was Tk 12.67 crore higher than the previous fiscal 2017-18.
In the FY19, the corporation allocated Taka 553.06 crore as credit which was Tk 401.61 crore in the fiscal 2017-18, according to a press release.
The recovery of loan was Tk 529.33 crore in the FY19 which was Tk 506.51 crore in the previous fiscal. In FY19, classified loan abated to 6.62 per cent which was 1.06 per cent lower than the previous fiscal.
The BHBFC is a specialised public financial institution that finances the construction and renovation of houses and purchasing residential apartments in across the country.
The institution was set up in 1973 under presidential orders and it gives loans for only individual home construction and has faced criticism for giving loans mostly to government employees.
All inherited assets and liabilities of the erstwhile House Building Finance Corporation were vested in the reconstituted BHBFC. Until March 2009 the authorised and paid up capital of BHBFC stood at Tk 1100 million and Tk 973 million respectively.
The government arranges entire paid up capital. Current paid up capital is mobilised through sale of debentures guaranteed by the government to Bangladesh Bank, National Commercial Banks NCBs, private commercial banks and Insurance Corporation.
