As interest expense increased by 13.3% y-o-y to $2.2 million, net interest and hiring charges came in at $6.5 million, 21.8% higher than $5.3 million last year, mainly due to higher recovery from non-performing loans, despite the increase in cost of funds.
SINGAPORE (May 10): Singapura Finance reported 1Q19 earnings surged more than threefold to $4.1 million from $1.2 million in 1Q18.
Interest income and hiring charges saw a 19.6% increase to $8.7 million from $7.3 million a year ago.
