Mainboard-listed Credit Bureau Asia ’s revenue grew 10% y-o-y to $59.7 million in FY2024 ended Dec 31, 2024, while net profit before tax grew 14% y-o-y to $30.5 million over the same period.
Patmi, meanwhile, grew 14% y-o-y to $11.2 million, the credit and risk solutions provider announced on Feb 24.
Credit Bureau Asia’s board is recommending a final dividend of 2.0 cents per ordinary share, bringing the total dividend payout for FY2024 to 4.0 cents per ordinary share, an increase of 8.1% y-o-y.
CBA, together with its joint ventures, is currently the dominant market leader in Singapore’s financial institution (FI) data business and the sole market player in Cambodia and Myanmar, with more than 255 FI members across the three countries as of the end of 2024.
Credit Bureau Asia says there is “broad-based increase” in revenue and continuing development of new business initiatives to its FI data business in Singapore, Cambodia and Myanmar.
Profit before tax for its FI data business increased 10% y-o-y to $15.1 million in FY2024.
See also: Our 2025 picks: Credit Bureau Asia — Steady growth banking on niche offering
Meanwhile, CBA’s non-FI data business counts more than 6,000 enterprise customers in Singapore and Malaysia, and the company has access to a database of more than 580 million business records globally.
Credit Bureau Asia says its non-FI data business “continues to expand and increase market penetration”. Revenue contributions from the Singapore and Malaysia markets, compared to the rest of the world, are $17.9 million and $14.7 million respectively.
Within this segment, customers can access business information and risk management services, sales and marketing solutions, commercial insights and other services, using data sourced from a variety of publicly accessible registries and Dun & Bradstreet’s international network and data contributed by businesses that subscribe to Credit Bureau Asia’s payment bureau services.
Credit Bureau Asia’s collaboration with the US-headquartered commercial data analytics firm Dun & Bradstreet was renewed for another five years with effect from Jan 1, 2024 for Dun & Bradstreet Singapore and Dun & Bradstreet Malaysia.
This “symbiotic relationship” with Dun & Bradstreet began 25 years ago, says the company. Credit Bureau Asia is now the market leader in commercial credit and risk information in Singapore and Malaysia with a global reach through the Dun & Bradstreet Worldwide Network.
Profit before tax for Credit Bureau Asia’s non-FI data business, which also includes Singapore Commercial Credit Bureau, increased 19% y-o-y to $15.4 million in FY2024.
“Meanwhile, the group continues to explore acquiring growing businesses in the region to expand our footprint. Further announcements will be made at the appropriate time,” reads Credit Bureau Asia’s announcement.
Credit Bureau Asia is one of The Edge Singapore’s 12 stock picks from the Singapore Exchange for 2025.
Shares in Credit Bureau Asia closed 4 cents lower, or 3.3% down, at $1.18 on Feb 24. Its shares have climbed over 30% over the past year.
