Hong Leong Bank achieves net profit of RM454 million Q3FY13

Ana Ghoib Syeikh Malaya 1:59 PTG
Kuala Lumpur, 9 May 2013 - Hong Leong Bank Berhad (the "Bank" or "Group"), (BM: HLBANK) today announced its results for the third quarter ended 31 March 2013.


  • Net profit after tax for the third quarter ended 31 March 2013 ("Q3FY13") at RM454 million, compared to the corresponding quarter ended 31 March 2012 ("Q3FY12") which wasrestated mainly due to the write-back in collective assessment allowance from the retrospective application of MFRS139


  • Net profit after tax for the nine months ended 31 March 2013 ("9MFY13") at RM1,440 million, a growth of 7.6% from RM1,338 million in the corresponding period last year ("9MFY12")


  • Total income for 9MFY13 grew by 3.8% year-on-year to RM3,032 million


  • Gross Loans & Financing grew by 7.7% year-on-year to RM94.5 billion


  • Customer Deposits expanded to RM123.5 billion

Hong Leong Bank's Group Managing Director/ Chief Executive, Datuk Yvonne Chia, said "We achieved positive results once again in the third quarter ended 31 March 2013, reflecting the sustainable performance of our business."

"Net profit for the nine months ended 31 March 2013 improved by 7.6% to RM1,440 million from the corresponding period last year on the back of higher non-interest income and improved operating efficiencies."

"Net profit for the third quarter ended 31 March 2013 was RM454 million while pre-provisioning operating profit grew by 1.3% to RM567 million compared to the last corresponding quarter."

"Our shareholder value creation remains robust with our return on equity at 15.8% in 9MFY13. Our return on asset improved 4 basis points to 1.22% for the nine months ended 31 March 2013."

"Basic earnings per share remain unchanged at 82 sen while net assets per share improved to RM7.20 from RM6.40 in the same period last year."


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