- iFAST’s 1Q24 earnings of S$14.5m (+387.4% y-o-y, +9.8% q-o-q) were above expectations, forming 30% of our full-year estimate. This was mainly driven by significant contributions from the HK ePension division and sustained growth in its core wealth management platform.
- - Read this at SGinvestors.io -
iFAST's 1Q24 results above expectations.
- iFAST Corporation (SGX:AIY) had a strong 1Q24 performance, with 1Q24 revenue and PATMI of S$86m (+59.4% y-o-y; +4.6% q-o-q) and S$14.5m (+387.4% y-o-y; +9.8% q-o-q), forming 26%/30% of our full-year estimates respectively.
- Excluding banking operations, revenue rose 53.2% y-o-y and PATMI surged 258.8% y-o-y, driven by the continued growth in its core wealth management platform business and contributions from the Hong Kong (HK) ePension division.
- - Read this at SGinvestors.io -
AUA hits a new record high; net inflows increase.
- Assets under administration (AUA) for iFAST reached S$21.1b as at 31 Mar 24 (+16.0% y-o-y; +6.3% q-o-q), breaking its record for the third consecutive quarter since end-21.
- Read more at SGinvestors.io.
