iFast Q1 profit up 49.4% to S$28 million
Revenue is up 49% to S$136.8 million; its wealth management and Hong Kong ePension businesses are more profitable
Add BT as a preferred source
[SINGAPORE] Fintech platform iFast Corporation reported a 47.3 per cent jump in net profit to S$28 million for the three months ended Mar 31, 2026, up from S$19 million in the year-ago period.
This was due to growth in its core wealth management business as well as its Hong Kong ePension business, iFast said in a bourse filing on Thursday (Apr 23).
Revenue climbed 49.4 per cent to S$136.8 million, up from S$91.6 million in the year before.
On a per-share basis, earnings climbed 44.4 per cent to S$0.092.
An interim dividend of S$0.025 a share was declared, higher than the S$0.016 a share in the year-ago period.
The group said that it expects to propose a total dividend of S$0.105 a share or higher for 2026, at least a 25 per cent more than in 2025.
For its wealth-management business, assets under administration went up 27.1 per cent to a record of S$32.6 billion.
Continued growth expected
The group said that it registered growth in all its markets, with Singapore as the main contributor; group net inflows in the quarter amounted to S$1.3 billion.
It also forecasts “healthy growth rates” in revenues and profitability, with its Hong Kong business targeting double-digit growth in these areas for 2026. The company’s Orso pension administration business – an employer-driven, voluntary retirement scheme – will start contributing in the second half of the year.
The group will continue to execute its Three-Year Plan (2026 to 2028), with the aim of becoming a global digital banking and wealth management platform centring on the wealth hubs of Singapore, Hong Kong and London.
It also targets to have S$100 billion in assets under administration by 2030, and will continue developing its ePension and fintech services, among other things.
Shares of iFast closed down 1.1 per cent or S$0.11 at S$9.49 before the announcement.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
Back to Earth for SpaceX? Why the US$2 trillion titan shed US$600 billion in 3 days
