Kuala Lumpur, 4 November 2016
Hong Leong Islamic Bank Reported Pre-Tax Profit Of RM46.8 Million For Year-To-Date Ended 31st March 2006
Strong capital ratio at 13.8% for the Islamic Bank
Total asset grew 20% to RM 7.0 billion from RM 5.8 billion on 1 July 2005, the 1 st day when the Bank commenced business.
The financing book grew by 14% to RM3.9 billion from RM3.5 billion on 1 July 2005 on continued strong auto financing growth
Total deposit grew by 12% to RM 5.5 billion from RM 4.9 billion on 1 July 2005 , driven by Islamic Negotiable Instrument (INI) growth
Pre-tax profit of RM14.5 million for the 3 rd quarter end 31 st march 2006 while the year-to-date was at RM 46.8 million.
Islamic business profits showed sustained growth
Hong Leong Islamic Bank Berhad posted a net profit before tax and zakat of RM 14.5 million for the 3 rd quarter ended 31 st March 2006 and RM 46.8 million for the year-to-date.
To maximize the synergies, the Islamic bank had leveraged on the established platform of the parent conventional bank to reach its target customers. It had been able to expand its customer base to about 370,000 customers, of which about 30% are joint HLB customers.
In line with the group's push to grow the Islamic book, the Islamic Bank was able to contribute up-to 8% of the group's pre-tax profit for the reported period.
Balance sheet - building for size
We continued to grow the gross financing base, which stood at RM 3.9 billion and the Deposit base from customers at RM 5.5 billion. This gave a healthy Financing / Deposit ratio of 72.1%, allowing room for future assets growth.
Press Release - 10/05/2006