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Hong Leong Finance 2Q profit after tax rises 89% to $20.9 mil

PC Lee
PC Lee8/8/2017 9:8 PM GMT+08  • 1 min read
Hong Leong Finance 2Q profit after tax rises 89% to $20.9 mil
SINGAPORE (Aug 8): Hong Leong Finance reported 2Q17 profit after tax rose 89.1% rise to $20.9 million from $9.8 million a year ago.
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SINGAPORE (Aug 8): Hong Leong Finance reported 2Q17 profit after tax rose 89.1% rise to $20.9 million from $9.8 million a year ago.

For the three months ended March, total interest income/hiring charges fell 6.1% to $73.6 million mainly due to a lower loan base but interest expense also registered a decrease of 30.2% to $31.0 million resulting from a combination of a lower deposits base and lower applicable interest rates.

Accordingly, net interest income/hiring charges rose 25.3% to $42.6 million from the previous corresponding quarter.

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