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 the corresponding 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 remained strong 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 seen a sustainable profit performance with an 11% share of pre-tax profits," commented Ms. Yvonne Chia, Group Managing Director / Chief Executive, Hong Leong Bank 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 on building and galvanising the Group's Islamic financial services franchise as a regional one as well as to create value out of cross-border transactions via Islamic 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 and takaful. 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 in Malaysia and the Islamic window out of Hong Kong Branch," Ms. Chia continued.