iFast Q1 profit up 49.4% to S$28 million

[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.