In 2Q17, HLF reversed the trend of negative loan growth. Since then, it has registered three straight quarters of growth.
SINGAPORE (Feb 28): DBS Vickers is maintaining Hong Leong Finance (HLF) at "buy" on strong earnings growth momentum while 4Q17 and FY17 results exceeded expectations of the research house.
HLF recorded 4Q17 net profit of $24.8 million, up 68.7% y-o-y. This brings FY17 net profit 61.5% higher to $85.7 million. This was due to strong growth of hiring charges and fee income. Loan yields also continued to improve while cost of funding fell.
