iFast Corporation has reported earnings of $26.01 million in 3QFY2025 ended Sept 30, up 54.7% y-o-y. For the 9MFY2025, earnings grew 41.8% y-o-y to $67.2 million.
For the 3MFY2025, revenue grew 35% y-o-y to $117 million, and for the 9MFY2025 revenue grew 25% y-o-y to $311.9 million.
iFast’s assets under administration (AUA) grew 29.6% y-o-y to $30.62 billion as at Sept 30. AUA in Singapore, Hong Kong, Malaysia, China grew 28.7%, 25%, 17.5%, 61.7% y-o-y respectively.
Net inflows for the third quarter alone reached an all-time high of $1.49 billion, a 83.6% y-o-y increase. For the 9MFY2025, net inflows grew 62.2% y-o-y to $3.72 billion.
iFast says that the increase in profitability for the year was driven by growth in the Hong Kong ePension business, continuing growth in its core wealth management platform business and the turnaround of iFast Global Bank.
On a q-o-q basis, iFast Global Bank’s profit in the third quarter declined as non-interest commission and fee income moderated.
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Looking forward and barring unforeseen circumstances, the group expects 2025 as a whole to see robust growth rates in revenues and profitability compared to 2024. Improvements are coming from growth in the Hong Kong ePension business, improved growth momentum of the core wealth management business, and a first full year of profitability for iFast Global Bank.
Shares in iFast closed 1 cent lower or 0.108% down at $9.23 on Oct 24.
