Hong Leong Finance posts 24% drop in Q3 net earnings

HONG Leong Finance posted a third quarter net profit of $17 million, down 23.8 per cent from the same period a year ago.

Singapore's largest finance company also saw its net interest income and hiring charges fall, by 3.9 per cent to $38.6 million.

Fee and commission income, however, rose by 56.2 per cent to $3.89 million.

Total loan assets, which include hire purchases receivables, were up 23.8 per cent from a year ago to $8.78 billion. Deposits and balances also increased to $9.7 billion, up 32.5 per cent from the same time last year.