Hong Leong Islamic Bank net profit up 21%

Hong Leong Islamic Bank (HLISB) posted a higher pre-tax profit of RM51 million, up 21% year-on-year.

Total distributable income was higher at RM192 million or 30% better attributed by higher income derived from financing and treasury operations, coupledwith a lower allowance for losses on financing.

Earning per share was 15.2 sen (annualised) compared to 12.4 sen in the corresponding period last year. Return on average shareholder funds was 11.1%(annualised) compared with 10.1% for the last reported financial year.

The balance sheet net financing stood at RM4.1 billion as at December 2008 or increased by 2% from RM4.0 billion for the corresponding period last year.The Bank continued to grow its retail financing. Depositor base stood at RM 6.4 billion, up 18% year-on-year. The capital adequacy ratio remained strong at18.5%.

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Press Release - 10/02/2009