|
Key
Highlights
-
Strong capital ratio at 14% for the Islamic Bank
-
Total assets
grew 11% to RM 6.4 billion from
RM 5.8 billion on 1 July 2005, the 1st
day as a full fledged subsidiary
-
The financing
book grew by 16% to RM3.9 billion
from RM3.4 billion on 1 July 2005
-
Total deposit
grew by 17% to RM 5.7 billion from RM
4.9 billion on 1 July 2005, driven by
retail deposits, Negotiable Islamic Debts
Certificate (NIDC) and Special Investment
Accounts (SIA)
-
Pre-tax profit of RM62.4 million.
Islamic business delivered a healthy profit
Hong Leong Islamic
Bank Berhad (HLISB), a subsidiary of Hong Leong
Bank Berhad, posted a healthy net profit
before tax and zakat of RM62.4 million in
its inaugural year of operations as a full-fledged
subsidiary.
The Islamic Bank
operation is strategically supported by the
established platform of the parent conventional
bank. Through this arrangement, customers benefited
from a complete financial offering of Islamic
products and services and wealth management
solutions.
Asset financing grew
For the year, HLISB's
total assets grew by 11% to reach RM6.4 billion.
The growth is attributed to higher Financing
base recorded, which grew by 16% to reach RM3.9
billion. Deposits grew 17% to a base of RM
5.7 billion.
Asset quality remained sound with the non-performing financing (NPF) ratio at 1.2%,
which is amongst the lowest in the industry.
The Bank's capital
adequacy ratio stood at 14% against a minimum
regulatory requirement of 8%.
Investment banking
Efforts to develop
an Islamic Investment Banking franchise are
well underway. Over the fiscal year, there
has been meaningful progress in laying the infrastructure
and foundation towards this new competence,
particularly in the Debt Capital Markets (DCM)
segment.
Takaful license
Bank Negara Malaysia
on 30th January 2006 granted a takaful
license to Hong Leong Bank (HLB), Hong Leong
assurance (HLA) and Tokio Marine Asia Pte. Ltd
(Tokio Marine) to form Hong Leong Tokio Marine
Takaful Berhad (HLTMT). This together
with HLISB will further strengthen our Islamic
business model to offer a broader range of products
and services.
|
