Higher Net Profit

Hong Leong Islamic Bank (HLISB) posted a higher pre-tax profit of RM 51 million, up 21% year-on-year.

Total distributable income was higher at RM 192 million or 30% better attributed by higher income derived from financing and treasury operations, coupled with a lower allowance for losses on financing.

Earning per share was 15.2 sen (annualised) compared to 12.4 sen in the corresponding period last year. Return on average shareholder funds was 11.1% (annualised) compared with 10.1% for the last reported financial year.

The balance sheet net financing stood at RM 4.1 billion as at December 2008 or increased by 2% from RM 4.0 billion for the corresponding period last year. The Bank continued to grow its retail financing. Depositor base stood at RM 6.4 billion, up 18% year-on-year. The capital adequacy ratio remained strong at 18.5%.