The New Nation - Internet Edition

BUSINESS REPORT

The 305th meeting of the Board of Directors of Bangladesh House Building Finance Corporation (BHBFC) was held at its Head Office in the city recently.

The Board approved the External Audit Report of the corporation for the fiscal 2006-2007.

The corporation earned a net profit of Tk 135.36 crore in the fiscal 2006-2007 which is more than Tk 11.26 crore compared with the previous fiscal year. The status of loan recovery, particularly recovery from classified loan have improved significantly.

The present rate of classified loan has come down to 17.62 per cent. In the FY 2006-2007, the corporation has maintained the required provision. The corporation has paid an amount of Tk 43.71 crore as income tax for the FY 2006-2007.

In the FY 2006-2007 total assets of the corporation has increased to Tk 3055.64 crores. Revenue income has increased by 3.72 per cent and revenue expenditure has decreased by 1.12 per cent in the same fiscal year.