Hong Leong Islamic Bank's net profits up 20%

For the nine months ended 31 March 2010, Hong Leong Islamic Bank Berhad ("HLISB") registered a higher pre-tax profit of RM 88 million, up 20% year-on-year.

Total net income grew 20% to RM 142 million. Return on average shareholder funds was 11.4% (annualised) compared with 10.5% for the last reported financial year.

Total assets were stable at RM 9.1 billion. The balance sheet net financing stood at RM 4.0 billion as at March 2010, an increase of 5% when compared against June 2009. Asset quality remains strong, with the net non-performing financing (NPF) ratio at 0.4%. The bank remains well capitalised with the capital adequacy ratio at 21%.

-END-Press Release - 24/05/2010