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Hong Leong Finance's Q2 net profit falls 19.2%

Net interest income in the second quarter slipped 0.4 per cent to S$37.4 million from the same period last year, while overall income fell 2.2 per cent to S$40.4 million from a year ago.

SINGAPORE: Hong Leong Finance on Monday (Aug 11) reported a 19.2 per cent decline in second-quarter net profit to S$14.1 million from a year ago.

This came on the back of lower net interest income in the quarter which slipped 0.4 per cent to S$37.4 million from the same quarter last year. Overall income, which includes fees, commission and other operating income, fell 2.2 per cent to S$40.4 million from a year ago.

Looking ahead, Hong Leong Finance said in a statement that it is concerned over the "near term outlook of the external environment." However, the company said it will continue to assist "the HDB dwellers with both deposits and loan products and to support the SMEs by being close and relevant to them".

Hong Leong Finance has declared an interim dividend of 4 cents a share.

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