Faruq A. Choudhury re-elected as Chairman and Nasir A Choudhury elected as Vice- Chairman of DBHRead More
Faruq A. Choudhury, former foreign secretary and a noted columnist and author has been re-elected as Chairman and Nasir A. Choudhury, a leading figure of the insurance industry of Bangladesh as Vice-Chairman of Delta Brac Housing Finance Corporation Ltd. (DBH) for the next one year in the 98th meeting of the Board of Directors of the Company held at a local hotel on Thursday.
Mr. Faruq A Choudhury has earned reputation for writing articles on contemporary issues in the national daily newspapers and many books. He was awarded Bangla Academy Sahitya Puroshkar 2015 for writing book on biography and travelogue and IFIC Bank Sahitya Puroshkar 2014 for `Joboner Balukabelay’. Faruq A. Choudhury, a former career diplomat and High Commissioner to India was Adviser of BRAC from 1992 to 2006. He is presently a member of the BRAC University Trustee Board. He has been a Director of DBH since its inception.
Mr. Nasir Choudhury is a pioneer and renowned personality in the field of insurance in Bangladesh. He was the founder managing director and presently adviser of Green Delta Insurance Company Limited. He is also the Chairman of Green Delta Securities Ltd., Green Delta Capital Ltd & GD Assist Ltd. He is also a Director of Progressive Life Ltd and United Hospital Ltd. Mr. Nasir A Choudhury was honored in 2010 with the DHL-Daily Star “Lifetime Achievement Award” for his contribution towards the development of the insurance industry in Bangladesh. He has been a Director of DBH since its inception.
DBH approves 35% dividendRead More
The 20th annual general meeting (AGM) of Delta Brac Housing Finance Corporation Ltd. (DBH) held here in the capital on Thursday (24th Nov, 2016), approved 35% (30% cash and 5% stock) dividend for the year ending June 30, 2016. Chairman of DBH, Faruq A Choudhury presided over the meeting which was attended by its directors and Q. M. Shariful Ala, Managing Director & CEO as well as the general shareholders.
The shareholders of Delta Brac Housing Finance Corporation Ltd. (DBH) on Thursday unanimously approved 35% (30% cash and 5% stock) dividend for the year ending June 30, 2016 as proposed by the Board of Directors, says a press release.
The approval was given at the 20th annual general meeting (AGM) of the company held at “Six Seasons Hotel” in the city with its chairman Faruq A Choudhury in the chair.
The meeting was attended by its directors- Nasir A Choudhury, Mehreen Hassan, Adeeba Rahman, Dr. A M R Chowdhury, M. I. Chowdhury, Dr. A K A Mubin, Q. M. Shariful Ala, Managing Director & CEO and Jashim Uddin, Company Secretary as well as the general shareholders.
While placing the financial statements Faruq Choudhury said that the profit after tax increased this year by 15% and reached to Tk. 786 million. He also mentioned that Company's total assets were Tk. 40,685 million in the fiscal 2015-16, which was 14% higher than that of the previous year. EPS has increased to Tk. 6.77 against Tk. 5.90 in the previous year.
Expressing satisfaction over the performance of DBH, Faruq Choudhury said despite the difficult operating conditions and overall slowdown in the real estate sector, the company's earnings showed its resilience in the year ended June 30, 2016. The innovative lending policy and the initiatives to increase quality services undertaken by the management of DBH have contributed positively to continue its profit, he said hoping that this trend would continue in future also.
Referring to the achievement of the highest credit rating triple 'AAA' for the 10th consecutive year, Q. M. Shariful Ala said this unique milestone reflected the fact that DBH is a role model in the corporate financial sector which will, encourage our continuous effort to expand home ownership in the country.
DBH Employees volunteers building homesRead More
Employees of Delta Brac Housing Finance Corporation Ltd. (DBH) took part in the volunteers-sponsorship home renovation activities under the CSR program of the Company conducted by Habitat for Humanity Bangladesh (HFHB) under which total 5 (five) low cost homes were renovated at Kaligonj, Gazipur on Saturday, June 4, 2016.
Employees of Delta Brac Housing Finance Corporation Ltd. (DBH) took part in the volunteers-sponsorship home building activities launched by Habitat for Humanity Bangladesh (HFHB), five destitute families of the village Bangla Hawla at Kaligonj, Gazipur district started renovating their homes on Saturday, June 4, 2016 where the families were selected by a local Community Based Organization named "Bangla Hawla Ashar Alo Bohumukhi Somobai Somittee Ltd", under the CSR program of DBH.
A team of twenty employees of DBH headed by Jashim Uddin, Company Secretary went to Kaligonj, Gazipur to join the day long home building activities of HFHB. They assisted in the physical construction of the house together with experienced masons and workers. By taking part in this CSR activity, the DBH team helped out destitute families by providing them a permanent shelter.
DBH employees attended a similar program in 2015 arranged by Habitat for Humanity Bangladesh (HFHB) to provide affordable permanent housing for low income families at Dhamrai. DBH is the first financial institution to support building of low cost houses for low income families since 2009.
DBH Managing Director and CEO Mr. Q. M. Shariful Ala said "as part of our CSR Programs, DBH will continue to extend its support for building low cost housing for the destitute families. This sort of program will not only help in building low cost reliable housing solutions in the country, but also inspire others to stand by the low income families of the country", he said.
DBH's disbursed home loans cross Tk. 7,000 croreRead More
Delta Brac Housing Finance Corporation Ltd (DBH) cumulative home loan disbursements crossed Taka 7,000 crore on handing over a loan cheque to their client Nigar Sultana by Head of Operations Nasimul Baten. DBH's Managing Director & CEO Q. M. Shariful Ala and other senior officials of DBH were also present.
Cumulative home loan disbursement of Delta Brac Housing Finance Corporation Ltd. (DBH) has crossed Taka 7,000 crore, the highest amount of home loans disbursed by a financial institution in country's housing sector.
Head of Operations Nasimul Baten handed over the cheque to their clients Nigar Sultana. DBH's Managing Director & CEO Q. M. Shariful Ala, and other senior officials of DBH were also present.
"This amount together with clients' own equity contribution of approx equivalent amount helped DBH channelize more than Tk.14,000 crore investments in housing sector", said Shariful Ala.
Shariful Ala said that "DBH, an international joint venture financial institution, has emerged as the largest and only specialized Housing Finance Institution in the private sector of the country. We have constantly maintained market leadership both in terms of annual home loan disbursements and housing loan portfolio and is making a major impact on the growth of home ownership in the country".
Shariful Ala commented that "the Company has retained the highest 'AAA' credit rating for last ten consecutive years which is an exceptional achievement in the Bangladesh financial sector".