MALAYSIA: Hong Leong Islamic Bank has reported a 25% year-on-year increase in net profit to RM149.7 million (US$47.78 million) for its financial year ended the 30th June 2012.
In addition to incremental income contributions from EONCap Islamic Bank, which was merged into the Hong Leong Financial Group together with EON Capital’s other banking operations last year, Hong Leong Islamic also attributed the results to increased financing and treasury activities, coupled with an improvement in asset quality.
The bank’s total assets rose 8% to reach RM21.9 billion (US$7 billion), while its gross financing and advances increased 11% to RM12.4 billion (US$3.96 billion).