The New Nation - Internet Edition

Delta Brac Housing Finance Corporation Ltd (DBH) was rated 'AAA' (triple A), top of the rating scale for long term and ST-1 for short term for the third consecutive year.

Hamidul Huq, managing director of Credit Rating Agency of Bangladesh (CRAB), handed over the Credit Rating Report to QM Shariful Ala, managing director of DBH, at a function here Monday, said a press release.

The rating report said the highest credit quality rating reflects DBH' s strong market position in the housing finance industry along with its sound asset quality and conservative provisioning policy, well diversified resource base and ability to maintain steady track record of profitability in a strong competitive market environment.

The report was made based on qualitative and quantitative analysis of financials and other information of DBH for FY 2007-08. The report was later approved by an independent Rating Committee (RC) of CRAB comprised of country's eminent experts from financial sector, including academicians, bankers and economists.

While receiving the report Shariful Ala said "The top rating would encourage us to continue our efforts to promote home ownership in the country." Senior officials of DBH and CRAB were present at the function.