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PR Newswire
23-04-2013, 08:54 PM
HONG Leong Finance posted a first-quarter net profit of $15.3 million, down 8.9 per cent from the same period a year ago.
Net interest income and hiring charges at Singapore's largest finance company also fell by 7.5 per cent to $36.5 million, as a result of a reduction in the lending spread.
Fee and commission income, however, rose 17.2 per cent to $3.4 million, mainly due to higher fee income from some lending products and from corporate advisory services.
Total profits from operations, before allowances, slipped 1.43 per cent over the previous corresponding period to $18.3 million.
Net interest income and hiring charges at Singapore's largest finance company also fell by 7.5 per cent to $36.5 million, as a result of a reduction in the lending spread.
Fee and commission income, however, rose 17.2 per cent to $3.4 million, mainly due to higher fee income from some lending products and from corporate advisory services.
Total profits from operations, before allowances, slipped 1.43 per cent over the previous corresponding period to $18.3 million.