M'sia banks continue to post strong performances

Kuala Lumpur

MALAYSIA banks continue to post strong performances in the January-March quarter with Hong Leong Bank Bhd on Monday announcing a net profit increase of 14 per cent year on year (y-o-y) for the quarter underpinned by prudent cost of fund management and higher non-interest income contribution.

The bank's net profit for the third quarter to end March amounted to RM570 million (S$184.26 million) on revenues of RM1.12 billion, and net profit for the cumulative nine months totalled RM1.66 billion on the back of RM3.4 billion revenue.