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Hong Leong Finance posts 5.4% drop in Q1 net profit to $14.4 million

Published on Apr 24, 2014 9:23 PM

Hong Leong Finance (HLF) recorded a 5.4 per cent drop in net profit for the first quarter to $14.4 million.

Net interest income slipped a marginal 0.5 per cent in the three months to March 31 compared with the same period last year, due to a slight reduction in lending spread.

Fee and commission income fell by 23.3 per cent to $2.6 million, mainly due to lower fee income from lending products.

Operating profit dipped 5 per cent in the first quarter from the previous year.

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