HWANG-DBS (Malaysia) Bhd recorded a 88 per cent higher pre-tax profit of RM85.7 million for the financial year ended July 31, 2010 from RM45.5 million registered previously.

The profit was achieved over a 17 per cent increase in revenue to RM346.9 million from RM295.8 million chalked up a year ago.

In a statement today, the company said that the growth momentum of the group's conventional and Islamic fund and asset management activities as well as its share financing and moneylending businesses were proceeding as planned.

'We are also developing the banking network of our overseas commercial banking business by targeting to open additional branches to tap into the vast clientele base,' it added.

The group is also confident that it has been well-positioned to exploit the financial markets and expects a satisfactory performance for the financial year ending July 31, 2011. -BERNAMA