Link: https://links.sgx.com/1.0.0/corporate-announcements/9GBN4CAZ95R4UR33/1086fea3e10c2f8e63ed9f3ca6ce8e9ba3aac4bd060d648e5a5eab2224fec3c6

Summary:

• Revenue/Net interest income: Net interest and hiring income S$89.2m (down 20.8%) as yields on loans and liquid assets fell faster than deposit costs amid declining benchmark rates; fee and commission income S$4.1m (up 2.7%).

• Profit: Profit before tax S$38.8m (down 38.5%); net profit S$32.2m (down 38.7%); annualised EPS 14.36 cents (basic).

• Operating expenses: S$60.8m (up 9.1%); higher staff costs, IT/digital investments, and one-off project/consultancy costs; depreciation up 15.5%.

• Credit costs: Net writeback of allowances S$6.2m (vs S$2.1m writeback); NPL ratio 0.4%; loan book largely secured.

• Balance sheet: Loans, advances and receivables S$11.76b (up 0.8% vs Dec-2024); deposits S$12.34b (up 0.3% vs Dec-2024); cash and liquid assets S$2.84b; CAR 16.4%.

• Cash flow: Operating cash inflow S$219.8m; investing outflow S$1.5m; financing outflow S$48.8m (dividends paid S$44.9m); end-period cash and equivalents S$1.28b.

• NAV per share: S$4.67 (down from S$4.70 at end-2024); shareholders’ funds S$2.10b.

• Dividend: Interim dividend 2.75 cents per share (vs 3.75 cents last year); payable 5 Sep 2025; books close 21–22 Aug 2025.

• Outlook/strategy: Tight NIM environment persists; continued digital transformation with HLF Digital public launch later in 2025; focus on SME support, green financing, and risk management.