Hong Leong Bank ends FY24 on improved net profit of RM4.2bil

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KUALA LUMPUR: Hong Leong Bank Bhd wrapped its 2024 financial year (FY24) with earnings and revenue growth despite the challenges of the macro economy and operating environment, said group managing director and CEO Kevin Lam.

"The key drivers to our profit growth were underpinned by strong loans/financing growth, higher investment gains from insurance segment, improved brokerage income and healthy contributions from our associates.

In the 12-month period to June 30, 2024, HLFG's net profit was RM3.2bil against RM2.88bil in FY23, while revenue climbed to RM6.65bil from RM6.48bil in the previous year.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Finance /Business/Business News HLFG Banking Deposits Profit Loans Hong Leong Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 13:31:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 648 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22292966

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