Net interest income rose 11.1% to $112.7 million on the back of improved assets yields, outpacing the elevated funding cost y-o-y.
Hong Leong Finance (HLF) announced that its earnings for 1HFY2024 ended June 30 have increased by 12.9% y-o-y to $52.6 million from $46.6 million a year ago, driven by higher net interest income at an expanded net interest margin of 1.6%.
During the period, interest on loans grew 6.2% y-o-y to $230.7 million, hiring charges were 12.2% higher at $26.4 million and other interest income was 43.5% higher at $46.7 million.
