Hong Leong Bank Q4 net up 51pc

HONG Leong Bank Bhd (HLBB)(5819), which turned in a solid financial performance in its final quarter, is looking to make further banking acquisitions in the region, its chief said.

The country's sixth largest lender is currently trying to take over smaller local rival EON Capital Bhd in a RM5.06 billion deal.

"Indonesia and Thailand have always been within our radar," group managing director Yvonne Chia told reporters yesterday at a briefing on its financial results for the year ended June 30 2010.

"Many people knock on our doors to see if we are interested in opportunities," Chia said, adding however that the bank had yet to start talks with any party.
HLBB is actively looking for opportunities in "one or two" markets, she said, declining to elaborate.

It reported a 51 per cent rise in its final quarter net profit to RM301.1 million on higher lending and stronger contribution from China's Bank of Chengdu.

Revenue improved 5 per cent to RM517.8 million, while net interest income grew by a fifth to RM385.5 million.

"This is our best-performing quarter for the last 20 quarters in terms of net profit delivered to shareholders," Chia said.

Net profit for the full-year rose 9 per cent to RM988 million, beating analysts' consensus estimate by 6 per cent. - By Adeline Paul Raj