Kuala Lumpur – AEON Credit Service (M) Berhad (AEON Credit or the Company) recorded a net profit of RM62.73 million for the first quarter ended 31 May 2016 (“Q1 2017”), representing an increase of 7.7% from a net profit of RM58.24 million recorded for the quarter ended 31 May 2015.

Total revenue increased by 12.6% to RM261.64 million for Q1 2017 as compared with the previous year corresponding quarter. Total financing volume of RM1.01 billion registered in Q1 2017 was 19.4% higher compared with the quarter ended 31 May 2015 mainly driven by strong performance in easy payment operations, especially for vehicle financing and personal financing.

The financing receivables as at 31 May 2016 was RM5.68 billion, representing an increase of 21.6% from RM4.67 billion at end of May 2015, with growth recorded in vehicle financing and personal financing product segments. Meanwhile, non-performing loans (NPL) ratio stood at 2.42% as at 31 May 2016 compared to 2.74% as at 31 May 2015.

The Company expects to be able to maintain its financial performance in the year ending 28 February 2017 despite challenges posed by the Malaysian and global economy.