Dhaka, July 10 (UNB) – The Bangladesh House Building Finance Corporation (BHBFC) has provisionally posted a net profit of Tk 1.28 billion (Tk 128 crore) in the last fiscal year (2011-2012) having a growth of 14.02 percent.

The profit of the Corporation in the 2010-11 fiscal was Tk 1.12 billion, said a BHBFC statement.

During the last financial year, the BHBFC had sanctioned loans worth Tk 3.66 billion while it disbursed loans amounting Tk 3.00 billion. The amount of loan sanctioned has increased by 41.31 percent compared to the year 2010-2011.

The status of loan recovery has also improved significantly as the rate of classified loan was 12.93 percent in last fiscal year compared to 15.70 percent in fiscal year 2010-2011.

The corporation also maintained the required provision in the last fiscal.

The statement said the corporation paid Tk. 425 million as Income Tax in the financial year 2011-2012. It fixed the target of loan sanction at Tk. 4.00 billion and loan disbursement at Tk. 3.50 billion for the current financial year 2012-2013.