iFast soars 8.2% to all-time high on robust Q3 earnings; set to hit record net inflows for 2025

[SINGAPORE] Shares of digital wealth management platform iFast soared nearly 8.2 per cent on Monday (Oct 27) morning, the first trading day after it posted a 54.7 per cent rise in net profit.

Its net profit jumped to S$26 million for its third quarter ended Sep 30, from S$16.8 million in the previous corresponding period.

The counter surged S$0.76 to a new record of S$9.99 at 9.02 am, before giving up some of its early gains to trade at S$9.80 in the late morning.

Last Friday, the company posted earnings per share of S$0.0856 for the quarter on profit of S$26 million, up from S$0.0564 the previous year.

Revenue was up 37 per cent year on year at S$135.8 million, from S$99.1 million.

In a briefing on Monday, iFast CEO Lim Chung Chun said that net inflows are expected to hit a record high for 2025, with net inflows for the three quarters already hitting S$3.71 billion, close to the record high of S$3.75 billion in the first nine months of 2021.

“The recent overall momentum in terms of the inflow that we’re seeing is pretty healthy, and in the short-term we expect that to continue,” said Lim.

On the banking front, iFast Global Bank (IGB) saw its margins falter in Q3 2025 mainly due to the remittance business, with certain corridors having higher-than-average revenues amid incentives from authorities.

“In our case, for the Pakistani corridor in particular, we were having a bit of a better margin because of some additional incentives that were being given in those markets by authorities,” said Lim, adding that some of those are being taken away.

Overall transaction volume is expected to remain healthy or grow, but will not be counted on to drive substantial revenue growth at IGB. iFast acquired the fully licensed UK bank in March 2022.

Instead, Lim expects growth from retail and commercial banking customers to drive growth, as IGB launched a commercial banking service for small and medium-sized enterprises (SMEs) in August, covering both UK and non-UK companies.

“Among this group of SMEs, we feel that the demand and the potential are very substantial,” he said.

IGB differentiates itself from other UK banks through its willingness to open a UK business bank account for companies not based in the country – something that businesses often struggle with, he added. This is meant to add on to the group’s business banking segment, which also includes digital transaction banking.

“We expect that our customer base will grow from both the personal banking side as well as the business banking side and banking SMEs,” he said.