Aeon Credit Sees 16.5% Profit Drop In Hong Kong

Published September 28, 2009, 1:00 a.m. EDT

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Updated September 28, 2009, 12:00 a.m. EDT

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Aeon Credit saw the net profits for its Hong Kong operations decline by 16.5% year-on-year for the six months ended 20 August, to HK$123.8 million (US$15.9 million or 10.9 million euros) from HK$148.3 million, according to the issuer's latest results. Japan-based Aeon Group operates in Hong Kong through the credit card subsidiary Aeon Credit Service (Asia) Co. Ltd. Revenue for the card issuer increased 1.9% for the six months ended 20 August, to HK$603 million from HK$591.8 million. Net interest income increased 3.6%, to HK$471 million from HK$454.8 million. The company declined to comment to CardLine Global.

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