Latest news with #RM1.12bil
The Star
6 days ago
- Business
- The Star
HLB records improved 9M25 net profit of RM3.2bil
Hong Leong Bank group managing director and chief executive officer Kevin Lam. KUALA LUMPUR: Hong Leong Bank Bhd (HLB) maintained a growth trajectory in the nine months of financial year ended March 31, 2025 (9M25) with double-digit expansion in non-interest income, while the bank's gross loans and financing crossed a RM200bil milestone, says group managing director and chief executive officer Kevin Lam. 'We are pleased to announce that our business performance thus far has been commendable underpinned by solid loans/financing growth, strong non-interest income contribution and healthy asset quality.' In 9M25, Hong Leong posted a net profit of RM3.18bil, up from RM3.16bil in the year-ago period. The bank reported revenue of RM4.78bil, an increase from RM4.29bil in the comparative period, while earnings per share rose to 155.36 sen from 154.3 sen previously. The higher cumulative performance was in spite of the weaker third-quarter performance, which logged a net profit of RM946.7mil against RM1.04bil in the third quarter of financial year 2024 (3Q24). Revenue during this quarter was higher at RM1.55bil, against RM1.44bil in the year-ago quarter. During the nine-months period, the bank's net interest income rose to 5.8% year-on-year (y-o-y) to RM3.66bil, underpinned by strong loans and financing growth and effective funding cost management. As a result, net interest margin gained five basis points y-o-y to 1.9%. Non-interest income in 9M25 jumped 34.1% y-o-y to RM1.12bil, attributed to the encouraging performance in the wealth management business and global markets franchise sales alongside the higher treasury and foreign exchange gain. The bank's gross loans, advance and financing grew 7.2% y-o-y to RM201.2bil, on the back of expansion in the key segments of mortgage, auto loans, small and medium enterprises and commercial banking as well as key overseas markets. Customer deposits in 9M25 rose 5.9% y-o-y to RM225bil with current account savings account (CASA) expanding 5% y-o-y to RM68.3bil. The bank's CASA ratio stood at 30.4%. 'We are confident that the Malaysian economy will remain resilient amidst the ongoing external headwinds, whilst at HLB, we focus on the execution of the three to five-year transformative plan to deliver sustainable results to our stakeholders,' Lam said on the bank's outlook. Meanwhile, HLB's parent company Hong Leong Financial Group Bhd (HLFG) announced a net profit of RM2.4bil in 9M25, slightly higher from RM2.39bil in the year-ago period, while revenue rose to RM5.45bil from RM5.04bil in the comparative period. However, HLFG's third-quarter net profit was RM714.12mil, down from RM818.07mil in 3Q24, and revenue slipped to RM1.7bil from RM1.76bil in the previous corresponding quarter. The group's insurance division, HLA Holdings Sdn Bhd recorded a 13.5% weaker pre-tax profit of RM489mil, while its investment banking and asset management division, Hong Leong Capital Bhd 's pre-tax profit was lower by 23.6% y-o-y to RM57mil. HLFG president and CEO Tan Kong Khoon said the group demonstrated resilience in the first nine months of FY25 despite a challenging operating environment. However, he added that global economic uncertainties stemming from trade disruptions and geopolitical tensions had a negative impact on investment income within the insurance and investment banking divisions.
The Star
7 days ago
- Business
- The Star
Hong Leong Bank records improved 9M net profit of RM3.18bil
Hong Leong Bank group managing director and CEO Kevin Lam KUALA LUMPUR: Hong Leong Bank Bhd maintained a growth trajectory in the nine months ended March 31, 2025 (9MFY25) with double-digit expansion in non-interest income, while the bank's gross loans and financing crossed a RM200bil milestone, said group managing director and CEO Kevin Lam. "We are pleased to announce that our business performance thus far has been commendable underpinned by solid loans/financing growth, strong non-interest income contribution and healthy asset quality." In 9MFY25, Hong Leong posted a net profit of RM3.18bil, up from RM3.16bil in the year-ago period. The bank reported revenue of RM4.78bil, an increase from RM4.29bil in the comparative period, while earnings per share rose to 155.36 sen from 154.3 sen previously. The higher cumulative performance was in spite of the weaker third-quarter performance, which logged a net profit of RM946.7mil against RM1.04bil in 3QFY24. Revenue during this quarter was higher at RM1.55bil, against RM1.44bil in the year-ago quarter. During the nine-months period, the bank's net interest income rose to 5.8% year-on-year (y-o-y) to RM3.66bil, underpinned by strong loans/financing growth and effective funding cost management. As a result, net interest margin gained 5 basis points y-o-y to 1.9%. Non-interest income in 9MFY25 jumped 34.1% y-o-y to RM1.12bil, attributed to the encouraging performance in the wealth management business and GM franchise sales alongside the higher treasury and foreign exchange gain. Hong Leong Bank's gross loans, advance and financing grew 7.2% y-o-y to RM201.2bil, on the back of expansion in the key segments of mortgage, auto loans, SME and commercial banking as well as key overseas markets. Customer deposits in 9MFY25 rose 5.9% y-o-y to RM225bil with current account savings account (Casa) expanding 5% y-o-y to RM68.3bil. The bank's Casa ratio stood at 30.4%. "'We are confident that the Malaysian economy will remain resilient amidst the ongoing external headwinds, whilst at Hong Leong Bank, we focus on the execution of the 3-5 Year Transformative Plan to deliver sustainable results to our stakeholders," said Lam on the bank's outlook. Meanwhile, Hong Leong Bank's parent company Hong Leong Financial Group Bhd (HLFG) announced a net profit of RM2.4bil in 9MFY25, slightly higher from RM2.39bil in the year-ago period, while revenue rose to RM5.45bil from RM5.04bil in the comparative period. The group's third-quarter net profit was RM714.12mil, down from RM818.07mil in 3QFY24, and revenue slipped to RM1.7bil from RM1.76bil in the previous corresponding quarter. It said in a statement the insurance division, HLA Holdings Sdn Bhd recorded a 13.5% weaker pre-tax profit of RM489mil due to reduced investment income and mark-to-market gains as well as lower share of profits from associate, partially mitigated by higher net insurance service results. The investment banking and asset management division, Hong Leong Capital Bhd's pre-tax profit was lower by 23.6% y-o-y to RM57mil, primarily attributable to lower mark-to-market gains on equity investments. HLFG president and CEO Tan Kong Khoon said the group demonstrated resilience in the first nine months of FY25 despite a challenging operating environment. However, he added that global economic uncertainties stemming from trade disruptions and geopolitical tensions had a negative impact on investment income within the insurance and investment banking divisions.
The Star
23-05-2025
- Business
- The Star
FBM KLCI bounces back after six-day losing streak
KUALA LUMPUR: Equities on the Malaysian stock market found support ahead of the weekend, with investors hoping for upcoming corporate results to provide fresh leads. After six days of losses, the FBM KLCI bounced 7.35 points higher in Friday morning trade to 1,531.93. Despite the return of buying interest to blue chips, the broader market remained nearly evenly spread with advancing issues slightly pipping decliners at a ratio of 1.06-to-1. Volume was 1.56 billion shares changing hands for RM1.12bil. Financial heavyweights, which were heavily sold down in the previous session, rebounded. Maybank gained six sen to RM9.88, CIMB rose 11 sen to RM6.96 and Public Bank climbed nine sen to RM4.39. Kuala Lumpur Kepong added 26 sen to RM19.88 after its results announcement yesterday, while Sunway Construction surged 16 sen to RM5.31. Meanwhile, Main Market debutant Eco-Shop topped the morning's actives list with 156.56 million shares done. The dollar-store retailer jumped eight over its initial public offering price to RM1.21. In regional markets, markets made a cautious comeback from the heavy selling in the previous day as investors were spooked by soaring US Treasury yields triggered by fears of a US tax-cut bill. Japan's Nikkei rose 0.43% to 37,144 and Hong Kong's Hang Seng gained 0.58% to 23,679. China's composite index rose 0.1% to 3,382. Singapore's Straits Times index was down 0.18% to 3,873.
The Star
19-05-2025
- Business
- The Star
Bursa Malaysia slumps as Chinese economic data weighs on regional sentiment
KUALA LUMPUR: The domestic market slumped on Monday as the outlook for the regional economy dimmed while profit-taking pressure intensified ahead of the raft of corporate results scheduled for release over the next two weeks. According to Reuters reports, Asian markets on Monday were dragged lower by negative sentiment as weak Chinese economic data weighed on the outlook. At 12.30pm, the FBM KLCI was down 16.19 points to 1,555.56, erasing much of the gains made in the previous week. The number of declining issues on the market outweighed advancing by 5.49-to-1, indicating the retreat was broad-based as investors sought safety in light of the uncertain economic environment. Volume was 2.47 billion shares transacted for a total value of RM1.12bil. Among the leading laggards, MPI dove RM1.32 to RM19.96 while PIE Industrial shed 33 sen to RM4.26. Investors took profits from blue chips including PETRONAS Dagangan down 50 sen to RM19.58, Hong Leong Bank sliding 26 sen ot RM19.94 and Kuala Lumpur Kepong sliding 24 sen to RM20.14. Active stocks were Harvest Miracle flat at 18 sen, SFP Tech down 2.5 sen to 23 sen and NexG unchanged at 37.5 sen. In key Asian markets, indices were a sea of red. Japan's Nikkei dropped 0.78% to 37,458 and China's composite index dipped 0.1% to 3,364. Singapore's Straits Times slipped 0.17% to 3,891 and Hong Kong's Hang Seng fell 0.5% to 23,230.
