KUALA LUMPUR, Aug 24 — Hong Leong Financial Group Bhd’s pre-tax profit for the financial year ended June 30, 2017, rose to RM3.09 billion from RM2.56 billion recorded the previous year.
Revenue increased to RM5.03 billion from RM4.54 billion, previously.
Hong Leong, in a filing to Bursa Malaysia today, said the stronger profit was driven by increased contributions from all three core businesses comprising commercial banking, insurance and investment banking.
Hong Leong president and chief executive officer Tan Kong Khoon said the group’s core businesses continued to show strong credit and liquidity risk metrics while maintaining their focus on business strategies.
“We are pleased to achieve a record pre-tax profit for the financial year ended June 30, 2017. Our continued focus remains on the execution of our business strategies in tandem with our digital plans to build sustainable long-term value for our shareholders’” he said.
Going forward, Hong Leong said it expected to maintain its performance in line with market conditions for the next financial year. — Bernama
