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Hong Leong Finance reports 57% rise in 1Q earnings to $26 mil

PC Lee
PC Lee4/26/2018 07:14 PM GMT+08  • 2 min read
Hong Leong Finance reports 57% rise in 1Q earnings to $26 mil
SINGAPORE (Apr 26): Hong Leong Finance reported a 57% increase in 1Q18 earnings to $25.9 million from a year ago.
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SINGAPORE (Apr 26): Hong Leong Finance reported a 57% increase in 1Q18 earnings to $25.9 million from a year ago.

For the three months to March, total interest income and hiring charges increased by 11.5% due to an increase in average loan base and a higher loan yield.

Interest expense for the quarter fell 14.3% to $30.7 million. This was due to lower interest payable on deposits resulting from lower applicable interest rates offset by a larger deposits base.

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