Hong Leong Finance posts 24% drop in Q3 profit

HONG Leong Finance's profit for the third quarter dropped 24 per cent to S$12.79 million.

Annualised earnings per share for the three months ended Sept 30 were 11.52 Singapore cents, down from 15.17 Singapore cents in Q3 2015.

Nine-month profit was down 17.2 per cent to S$38.37 million.

The group said its net loan assets including hire purchase receivables net of allowances stood at S$9.76 billion at the end of the period under review.

Deposits and balances of customers closed at S$10.54 billion as at Sept 30, 2016. This was a decrease of 3.5 per cent over the base as at Sept 30, 2015.