The increase was mainly due to higher loan yields, Sing Investments says in an SGX filing on Tuesday.
Operating expenses increased 4.1% mainly due to higher staff costs incurred to support the increase in business activities.
As at Dec 31, 2016, cash and cash equivalents stood at $405.8 million.
“Notwithstanding the challenging global environment and a slowdown in our local economy, the Group will work towards maintaining its objective, to deliver long-term value to shareholders,” says the group.
“We will focus on sustainable growth through selective lending, people development, technology enhancement and effective cost controls,” it adds.
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Sing Investments & Finance closed 1 cent lower at $1.22 on Tuesday.
