Photo: Collected
DBH Finance PLC reported a 40% growth in net profit after tax for July to September quarter of the year. At the same time, the company reported a growth of 18% in operating profit for Q3 and 22% for first 9 months of the year.
The company's Earnings per Share (EPS) surged to Tk. 1.68 for Q3, up from Tk. 1.20 in the corresponding quarter of previous year. The EPS for January to September period stood at Tk. 3.73 compared to Tk. 3.66 of same period of last year.
As of the end of September 2024, DBH's loan disbursement increased by 18%, from previous year resulting from its geographic and product line expansions. The housing finance company introduced shariah compliant products under its Islamic Financing Wing in May 2023 and opened few new branches covering all divisional cities of the country. Moreover, the company achieved a robust 11.20% growth in core deposits form individual and corporate customers for the January to September 2024 period compared to first nine-month of 2023, reflecting customers’ continued trust in the company. DBH obtained highest credit rating AAA for last 19 consecutive years.
The Non-Performing Loan (NPL) ratio, although slightly higher than previous levels and marked at 0.98%, remains well below the industry average, underscoring the company's effective risk management strategies. In terms of operational efficiency, DBH Finance demonstrated a commendable reduction in its cost-to-income ratio, which dropped by 7.4% year-on-year, from 30% to 27.8%, which is one of the lowest in the industry.
Nasimul Baten, Managing Director & CEO of DBH said, “The financial results showcased the company’s ability to execute efficiently, despite volatile macroeconomic conditions. Our focus on customer-centricity, operational efficiency, and portfolio quality sets DBH Finance apart in a competitive landscape.”
Messenger/Fameema
