PETALING JAYA: AEON Credit Service (M) Bhd ’s net profit for its first quarter ended May 31, 2021 has ballooned five times year-on-year (y-o-y) to RM163.09mil from RM26.28mil previously. This was mainly due to lower impairment loss and prudent cost management recorded in the quarter. The group’s revenue rose 5.4% y-o-y to RM410.97mil from RM389.88mil in the corresponding quarter last year. Aeon Credit’s total transaction and financing volume had increased by 80.9% to RM1.41bil while its transaction and financing volume also saw an increase by 11.5% as compared to the preceding quarter. The company’s gross financing receivables for the quarter saw a slight decrease of RM460.07mil to RM10.06bil while non-performing loan ratio stood at 1.75% as of May 31, 2021, compared to 1.42% a year ago.

Source: The Star July 06, 2021 21:33 UTC