Hong Leong Financial Group Bhd's commercial bank has inaugurated the Sustainable Finance Framework (SFF) which mobilises RM20 billion over the next five years to support green projects related to renewable energy, energy efficiency, green building, clean transportation and logistics, and waste management, according to the group's Bursa filing dated Nov 28.
Additionally, Hong Leong Investment Bank successfully advised and arranged two transactions amounting to RM900 million in the first quarter of FY2024/25, including a sustainability-linked bonds and a green medium-term notes.
In the same filing, Hong Leong Financial Group also announced that, during the first quarter ended 30 September 2024, the group recorded net interest income (NII) amounting to RM1.04 billion for the first quarter ended 30 September 2024 which represented an increase of 9.33% year-on-year (YoY) from RM947.84 million recorded the previous year1.
During the same quarter, Islamic banking income grew 25.01% YoY to RM287.81 million2, from RM230.23 million3. Non-interest income (NoII) increased 42.61% YoY to RM567.91 million4, from RM398.21 million5.
Net Income for the quarter, meanwhile, expanded 20.03% YoY to RM1.89 billion6, from RM1.58 billion7 in the previous year.
Net profit for the first quarter of FY2024/25 totalled at RM1.27 billion8 represented a growth of 13.81%, compared to RM1.12 billion9 recorded in the corresponding quarter in the previous financial year.
Net profit attributable to shareholders for Q1FY2024/25 increased by 14.30% YoY to RM847.67 million10, from RM741.65 million11, driven by improved commercial banking and insurance performance. from
Earnings per share for the quarter stood at 74.7 sen, compared to 65.4 sen in the corresponding quarter in FY2023/2412.
The total assets held by the group amounted to RM332.13 billion13 as at 30 September 2024, compared to total assets position of RM336.21 billion14 as at 30 June 2024.
As at 30 September 2024, Hong Leong Financial Group held on to cash and cash equivalents totalling at RM14.28 billion15.
Hong Leong Financial Group, as the listed financial services arm of Hong Leong Group, is a leading provider of financial services through its subsidiaries and associate companies. The Group's financial services companies provide a broad spectrum of financial services – commercial and Islamic banking, treasury, insurance and Family Takaful, investment banking, stockbroking and asset management throughout Malaysia, Singapore, China, Hong Kong, Vietnam and Cambodia.
