Hong Leong Finance's profit rose 89.1% to $20.9m in Q2

Interest on loans fell to $54.8m.

Hong Leong Finance's net profit surged 89.1% YoY from $11m to $20.9m in Q2.

According to the company's financial statement, interest on loans fell by 10.1% from $60.9m in Q2 2016 to $54.8m this year.

Hiring charges rose 27.9% to $11.9m, whilst other interest income fell 15.3% to $7m.

Net interest income rose by 25.3% from $34m to $42.6m.

The decreases were a result of a combination of a lower deposits base and lower applicable interest rates, Hong Leong said.

Meanwhile, fee and commission income rose by 30.8% to $4.1m from both lending and non-lending products.

The company has a net asset value per share of $3.84 YoY.

An interim dividend of 4 cents per share will be paid on 12 September 2017.