Kuala Lumpur – AEON Credit Service (M) Berhad (ACSM or the Company) recorded a net profit of RM75.81 million for the first quarter ended 31 May 2017 (Q1FYE2018), representing an increase of 20.86% from a net profit of RM62.73 million recorded for the previous corresponding quarter ended 31 May 2016
(Q1FYE2017). Total revenue for the quarter under review of RM302.28 million represented growth of 15.53% over the total revenue of RM261.64 million for Q1FYE2017.

Total financing volume was RM1.05 billion in Q1FYE2018, an increase of 4.27% from RM1.01 billion recorded in Q1FYE2017, mainly contributed by credit card transactions and personal financing schemes. Total financing receivables as at 31 May 2017 of RM6.67 billion represented growth of 17.37% from RM5.68 billion as at end of May 2016.

The non-performing loan (NPL) ratio remained stable at 2.43% as at 31 May 2017 (May 2016: 2.42%). Meanwhile, the net credit cost ratio for the year on average financing receivables was slightly lower at 3.28% compared to 3.32% in the corresponding period last year.

The Company expects to be able to continue with its financial performance for the year ending 28 February 2018 based on the scheduled implementation of its business plans, on the back of positive economic outlook for 2017.