iFast quarterly profit climbs 24.5%, raises full-year dividend outlook

Digital banking and wealth management group iFast reported net profit of S$32.4 million for the quarter ending Sep 30, a 24.5 per cent increase from S$26 million a year earlier. Revenue rose 23 per cent to S$167 million, according to its Oct 26 bourse filing.

The board proposed paying S$0.032 per share for the quarter, up 39.1 per cent from S$0.023 a year earlier. The company now expects to propose full-year dividends totalling at least S$0.12 per share, representing an increase of at least 43 per cent over FY2025. Its April 2026 guidance had been S$0.105 per share or higher.

Assets under administration reached a record S$36.76 billion, increasing 20 per cent from a year earlier. iFast attributed the expansion to strong net inflows and gains in financial markets.

The group said its core wealth management platform, iFast Global Bank and increased contributions from its ePension division were the main drivers of higher profitability.

Singapore operations recorded net revenue growth of 20.5 per cent, supported by broader asset growth and increased transaction volumes. Recurring fees from investment products and portfolio management services rose, while interest commission income and bond processing fees declined.

iFast Global Bank generated S$3.3 million in quarterly pretax profit, a 965 per cent year-on-year increase, as banking net revenue grew 67.1 per cent. The group expects the bank's 2026 pretax profit to exceed S$10 million, compared with S$3.1 million in 2025.

For the first nine months of 2026, group net profit increased 34.4 per cent to S$90.3 million. Revenue reached S$483.5 million, rising 33.2 per cent from S$363 million. iFast said it continues to pursue its target of S$100 billion in assets under administration by 2030.