Hong Leong Islamic Bank's Profits at RM 29.1 Million
Kuala Lumpur, 11 November 2009
Hong Leong Islamic Bank's Profits at RM 29.1 Million
Higher Net Profit
Hong Leong Islamic Bank Berhad ("HLISB") posted a pre-tax profit of RM 29.1 million, up 9% as compared to the previous quarter or 4% against thecorresponding quarter last year.
Earning per share was 17.5 sen (annualised) compared to 14.9 sen for the full financial year of 2009. Return on average shareholder funds was 11.7%(annualised) compared with 10.5% f or the last rep or ted financial year. Return on assets expanded slightly to 1.0%.
The balance sheet net financing stood at RM 4 billion as at September 2009. Deposit or base stood at RM 7 billion. The capital adequacy ratio remainedstrong at 21.9%.
"Personal Financial Services continue to power HLISB's earnings, contributing 81% of its pre-tax profits, while HLi Markets, the treasury business has seena sustainable profit performance with an 11% share of pre-tax profits," commented Ms. Yvonne Chia, Group Managing Director / Chief Executive, Hong LeongBank Berhad ("Group").
"We recently appointed Hijah Arifakh binti Othman as the Chief Operating Officer, Global Islamic Financial Services of the Group. The Group is serious onbuilding and galvanising the Group's Islamic financial services franchise as a regional one as well as to create value out of cross-border transactions viaIslamic instruments for the Group and its customers.
The focus areas will be on Islamic asset management, Islamic investment banking and wholesale banking, Islamic treasury, Islamic wealth management andtakaful. These will be new capabilities for the Group.
We are also seeking to set up an Islamic branch in Singapore, complementing the domestic and International Business Currency Unit ("ICBU") businesses inMalaysia and the Islamic window out of Hong Kong Branch," Ms. Chia continued.
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Press Release - 11/11/2009
Media Contact
Group Corporate Affairs & Public Relations
Hong Leong Bank Berhad
DID: 03-20808888 ext 3281
Email: capr@hongleong.com.my