AEON Credit Service (M) Bhd's net profit for the financial year ended Feb 20, 2011 increased by 16.8 percent to RM63.43 million from the RM54.27 million recorded the previous year.

In a statement today, AEON Credit said revenue for the year stood at RM269.61 million, representing a growth of 8.5 percent over the previous year.

It attributed the uptrend to growth in transaction volume for credit card operations as well as easy payment financing schemes.

Total transaction and financing volume of RM1.176 billion for the year, represented a 24 per cent growth from the previous year, while total credit cards in circulation increased by 27 per cent to 143,000 as at February 2011.

Meanwhile, the non-performing loans ratio stood at 1.83 per cent as at February compared to 1.80 per cent recorded in the same period last year. - BERNAMA