Delta Brac Housing and Finance Corporation Ltd., known as DBH was rated ‘AAA’ (Triple A), top to the rating scale for long term and ST-1 for short term for the third consecutive years.

Mr. Hamidul Huq, Managing Director of Credit Rating Agency of Bangladesh (CRAB) handed over the Credit Rating Report to Mr. Q.M. Shariful Ala, Managing Director of DBH at a function held at the latter’s corporate office in Dhaka. Senior officials of DBH and CRAB were present at the function.

CRAB’s independent Rating Committee (RC) comprising of financial analysts of home and abroad prepared the credit rating report on the basis of qualitative and quantitative analysis and balance sheet for the fiscal year 2007-08 of the company. The credit rating AAA indicates highest level of safety and security for the prospective investors and other stakeholders of the companies.

The CRAB rating report said DBH has maintained an operating efficiency ratio of 28.11 percent in the period rated. The company’s growth in operating profit in the FY 2007-08 was 31.25 percent, while operating expense of total asset was 1.41 percent, it added.

The report said deposits from the individuals have increased remarkably indicating ameliorated market confidence. The market share of DBH in terms of outstanding loans increased to 5.85 percent in the FY 2007-08 from 5.45 percent in the FY 2006-07, it said adding sanction and disbursement of loans have also increased by 54.6 percent and 40.03 percent.

It may me recalled here that Bangladesh Bank has necessitated the credit rating for all commercial banks at least annually vide its circular with effect from January 2007 and the banks and financial institutions are requested to update the rating on a continuous basis from year to year.