Singapore Corporate News - 21 Dec 2007

Hong Leong Finance on course for record year

'EXCEPTIONAL' and 'a very good year' were just some of the words and phrases used by a happy Ian Macdonald, president of Hong Leong Finance (HLF), to describe the last 12 months at Singapore's largest finance company.

For the first nine months of this year, HLF's net profit grew 35.1 per cent from a year ago to $94.5 million, just shy of 2006's 12-month net of $96.2 million.

It ran a very successful deposits campaign which saw deposits increase 24 per cent to hit $7.4 billion and this helped support the 24 per cent loans growth to $7.5 billion.