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Hong Leong Islamic Bank Net Profit Up 13% YOY
Kuala Lumpur, 25 August 2008
Hong Leong Islamic Bank (HLISB) is a full subsidiary of the mother bank, Hong Leong Bank and augments it in serving the Islamic banking customer segment.For the financial year ended 30 June 2008, it registered a higher net profit of RM 64 million, up 13% y-o-y from RM 57 million and up 8% on a q-o-qcomparison for the corresponding quarter last year.
During this fiscal year the bank has diversified into new Islamic Investment Banking and Wholesale Banking capabilities to complement the existing strongPersonal Financial Services business. HLISB has secured new Investment Banking mandates over the fiscal year, and continues to maintain significantbusiness momentum in this segment. The retail portfolio remains a dominant contributor to HLISB’s profits.
The balance sheet net financing grew to RM 4.2 billion or up by 16% from RM 3.7 billion as of June 2007. Depositor base stood at RM 6.2 billion, up 18%from RM 5.2 billion as of June 2007. The capital adequacy ratio remains strong at 18% for its total capital adequacy (RWCR).
Earning per share was 12.83 sen as of June 2008 compared to 11.36 sen as of June 2007 and return on average shareholder funds was 10.1% compared with 9.9%for the 12 months as of June 2007.
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Press Release - 25/08/2008
