iFast Q4 net profit more than doubles to S$6.8 million on higher revenue

Singapore

WEALTH management platform iFast Corporation on Friday reported a net profit of S$6.8 million for the fourth quarter ended Dec 31, 2020 up 127.5 per cent from S$3 million in the year-ago period.

The increase in net profit came on the back of a 41.6 per cent increase in revenue during the quarter. Revenue hit S$47.9 million as the group's assets under administration (AUA) rose to a record of S$14.45 billion as at Dec 31.