Corporate digest

iFast Corporation

DIGITAL bank hopeful iFast Corporation posted a 5.5 per cent drop in net profit to S$2.5 million for its third quarter ended Sept 30, from S$2.6 million a year ago. The decline was mainly due to iFast stepping up investments into its platform capabilities, particularly in its IT capabilities, over the last few years, the mainboard-listed fintech group said in a regulatory filing on Thursday.

Earnings per share stood at 0.92 Singapore cent for the quarter, down 6 per cent from 0.98 cent a year ago. Revenue for Q3 rose 7.6 per cent to S$33.8 million, from S$31.4 million a year ago, amid higher contributions from two of the group's main business divisions.