Kuala Lumpur, August 28th 2012 - Hong Leong Bank Berhad today announced its results for the financial year ended 30 June 2012.

Financial highlights for 1H 2012:

• Net profit after tax of Hong Leong Bank Group for financial year ended 30 June 2012 (“FY12”) at RM1,648 million, up 45% over RM1,137 million in the previous year (“FY11”) [or increase of 7.5% over the previous year on pro forma consolidated accounts year-on-year (“FY11 pro forma basis”)]
• Net profit after tax for the fourth quarter ended 30 June 2012 (“Q4FY12”) at RM395 million, up 31.9% from RM299 million in the corresponding quarter last year (“Q4FY11”) [or increase of 17.0% over the corresponding quarter last year using FY11 pro forma basis]
• Total Assets at RM157.8 billion, a growth of 8.4% from the previous year
• Gross Loans & Financing grew by 7.8% year-on-year to RM90.6 billion
• Customer Deposits  expanded by 7.2% year-on-year to RM123.1 billion

Hong Leong Bank’s Group Managing Director/ Chief Executive, Datuk Yvonne Chia, said “The positive results achieved in the financial year ended 30 June 2012 as net profit rose by 7.5% to RM1,648 million from the previous financial year using the pro forma basis, reflect the combined strength of our merged Bank.”

“We achieved satisfactory performance on our key shareholder value indicators as well. Basic earnings per share rose to 99 sen, against 78 sen last year. Net assets per share rose to RM6.52 from RM5.14 last year, while the return on equity improved to 17.5% from 16.3% in the previous year.”

“Exactly one year after the merger, we completed the last mile of our integration journey with the successful delivery of the Single Platform Day 1 (“SPD1”). We will remain focused on delivering the Hong Leong Bank promise of embedment in the communities we serve to meet the needs of individual and business customers.”

Re-disseminated by The Asian Banker