iFAST 1Q24: Firing on all cylinders

Disclosure: I own shares of iFAST and this post isn’t investment advice. “ iFAST Group is steadily increasing its capability and presence as a global digital banking and wealth management group, with iFAST Global Bank as part of its global Fintech ecosystem” Buckle up! The above statement says it all. The next few quarters are …

iFAST 4Q23: 917% earnings growth, IGB prospects and other bets

Disclosure: I am a iFAST shareholder! The fourth quarter of 2023 was all about iFAST’s ePension segment with contributions from the unit’s Hong Kong eMPF contract leading to net profit growing 917% year on year. eMPF eMPF will be the biggest source of revenue for iFAST over the next 2 years. iFAST lowered revenue guidance …

iFAST 3Q23 highlights

Disclosure: I own shares of iFAST and this post isn’t investment advice. “Going forward, the Group expects its overall revenue and profitability to show marked improvements”. iFAST’s stellar 3Q 2023 results marks a new era of hyper-growth. Net profit grew 303% year on year and 100% quarter on quarter after receiving only 1 month of …

iFAST 2Q23 highlights

Disclosure: I own shares of iFAST and this post isn’t investment advice. “ I feel that what our iFast Global Bank has opened up for us can lead to something much bigger.”- Lim Chung Chun, iFAST CEO iFAST reported decent second quarter 2023 results and a strong outlook for the second half of 2023. Net …

iFAST 3Q22 review

iFAST is becoming stronger and less vulnerable to bear markets. For the third quarter of 2022, net inflow was SGD600 million of net inflow lower year on year but still higher than per-pandemic levels. Diversification into cash management and bonds is paying off! Increased bond turnover on iFAST platforms stood out with bonds offering higher …

iFAST 3Q22 preview: What to watch

Ifast will be reporting 3Q22 results on 26 October 2022. The usual AUA, user growth and net inflow numbers will be messy because iFAST India segment will be removed from the numbers. Here’s what I’ll be focusing on : MPF revenue guidance MPF-related revenue and earnings will be the biggest share price driver during the …

iFAST: Bad 2Q22 results

iFAST reported a poor set of 2Q22 results because of an unexpected SGD2.69 million net loss due to an impairment for their India business. Here are the good and bad points about 2Q22: Good: Assets under administration (AUA) remained stable in a bear market. AUA fell 5% q/q but rose 0.8% y/y to SGD17.6 billion …

Can iFAST survive a bear market?

iFAST’s current share price has been falling probably because of weak equity markets and concerns over higher costs related to their UK bank acquisition. The current share price (SGD5) offers limited downside in my view and iFAST is a stronger and better platform because of its UK bank acquisition. Here are the 3 reasons why …

iFAST 4Q21 results: Bigger and better

iFAST reported decent fourth quarter 2021 results with revenue and net profit growing year on year but revenue growth has been decelerating. Net revenue grew 16% year on year to SGD28.2 million while net profit grew 5% year on year to SGD7.2 million. The lower net margin was mainly because of lower government support grant, …

Why I’m excited about iFAST buying BFC Bank

iFAST has bought a UK digital bank! From iFAST: On 6 January 2022, the Group signed an agreement with its partner, Eagles Peak Holding Limited (“EPHL”), to acquire BFC Bank Limited (“BFC Bank” or ”UK bank”) from BFC Group Holdings (“BFC Group”, based in Bahrain). The Group will have an 85% stake in BFC Bank. …