Net interest margin for 2HFY2022 expanded to 2.11%, bringing net interest income up by 64.3% to $145.8 million. For FY2022, net interest income rose by 36.1% to $242.2 million on the back of expanded net interest margins at 1.82%, reaping the upside momentum from rising benchmark rates with effective interest rate repricing management.
Hong Leong Finance (SGX:S41
) records 2HFY2022 ended December earnings of $85.8 million, up 113.7% compared to the same period last year.
For the full year, the company reported a record earnings of $130.9 million, up 54.3% from the previous year. This is driven by strong loan growth and uplift of asset yields outpacing higher cost of deposit amid the ongoing interest rate hikes.
