Hong Leong Finance's net profit rises by 11.5% YoY for FY 2024

Earnings per share stood at $0.2320.

Hong Leong Finance Limited’s net profit increased by 11.5% year-on-year (YoY) to $104.1m in FY 2024.

According to a bourse filing, the increase was driven by an expanded net interest margin of 1.6%, which reflected the growth of asset yields and moderated funding costs.

Net interest income improved by 11.3% YoY to $225.1m due to effective management of loan and deposit repricing costs.

Meanwhile, other interest income surged by 25.1% to $88.5m in FY 2024, attributable to the strategic management of liquid assets.

Earnings per share stood at $0.2320.

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