HLF's full-year profit down 9.6% to $70.1m

HONG Leong Finance (HLF) warned yesterday of pressure on interest spread amid keen competition for funding.

"We aim to maintain moderate growth in loan and customer deposit portfolios to manage the squeeze in margins," it said in its financial statement.

The lender posted a 9.6 per cent fall in full-year net profit, amid the absence of a write-back of provision for tax in prior years and weaker net interest income.