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Hong Leong Bank Q1 net profit up 10.6% to RM707m


  • Investing
  • Wednesday, 28 Nov 2018

Hong Leong Bank's group managing director and CEO Domenic Fuda said: “It is an encouraging start to the new financial year as the bank recorded a net profit after tax of RM707mil for the first quarter, growing 10.6% y-o-y compared to the   same period last year."

Hong Leong Bank's group managing director and CEO Domenic Fuda said: “It is an encouraging start to the new financial year as the bank recorded a net profit after tax of RM707mil for the first quarter, growing 10.6% y-o-y compared to the same period last year."

KUALA LUMPUR: Hong Leong Bank delivered a firm set of results for the first quarter ended Sept 30, 2018 as net profit grew by 10.6% due to a robust growth in non-interest income contribution coupled with prudent cost control and lower impairment allowances.

It announced on Wednesday net profit rose to RM706.91mil from RM638.97mil a year ago while its revenue increased by 6% to RM1.249bil from RM1.178bil a year ago. Earnings per share were 34.55 sen compared with 31.24 sen.

Corporate News , Banking

   

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