Higher Net Profit

Hong Leong Islamic Bank (HLISB) posted a net profit after tax of RM 55 million, up 15% year on year.

Total distributable income was higher at RM 269 million or 21% better attributed by higher income derived from financing and treasury operations, coupled with a lower allowance for losses on financing.

Earning per share was 14.7 sen (annualised) compared to 12.7 sen in the corresponding period last year. Return on average shareholder funds was 10.6% (annualised) compared with 10.1% for the last reported financial year.

Total assets stood at RM 7.8 billion as at March 2009, increased by 6% from RM 7.4 billion for the corresponding period last year. Depositor base stood at RM 6.7 billion, up 22% year on year. The capital adequacy ratio remained strong at 21.1%.