HONG LEONG FINANCIAL GROUP'S NET PROFIT SURGES TO RM577.27 MLN IN Q3
KUALA LUMPUR, May 27 -- Hong Leong Financial Group Bhd’s (HLFG) net profit surged to RM577.27 million in the third quarter (Q3) ended March 31, 2021, from RM339.20 million in the same quarter last year, thanks to higher contribution from all divisions.
Revenue jumped to RM1.58 billion from RM1.14 billion previously, the group said in a filing with Bursa Malaysia today.
During the quarter under review, Hong Leong Bank Group recorded a pre-tax profit of RM940.8 million, HLA Holdings Group posted RM93.9 million, while Hong Leong Capital Group notched RM46.9 million.
HLFG president and chief executive officer Tan Kong Khoon said despite the ongoing COVID-19 pandemic and movement control measures, the group was able to deliver a commendable performance across all core operating businesses.
He said the group anticipated a gradual recovery of the Malaysian economy, underpinned by the vaccination rollout under the National COVID-19 Immunisation Programme.
“However, with the resurgence of COVID-19 cases and tighter containment measures, we shall continue to prudently manage our key business risks and ensure our business continuity plans remain in place.
“We expect the group to remain resilient and draw on our strength in terms of liquidity, capital and credit discipline while maintaining our strong focus on risk management,” he said.
-- BERNAMA
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