iFAST

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https://www.businesstimes.com.sg/compani...-8-million

iFast posts 35% rise in Q2 net profit to S$29.8 million
Its directors are proposing a dividend of S$0.03 per share, up from S$0.02 per share in the year-ago period

[SINGAPORE] Digital bank and wealth management platform iFast  : AIY -3.13% reported a 35 per cent increase in net profit for the second quarter ended June to S$29.8 million, from S$22.1 million in the year-ago period.
Earnings per share stood at S$0.098 for Q2, up from S$0.0731 in the previous corresponding period.
In a bourse filing on Friday (Jul 24), the company reported that revenue for the same period rose 37.8 per cent to S$142.4 million, from S$103.3 million previously.

The directors of iFast have proposed an interim dividend of S$0.03 per share, up from S$0.02 per share in the previous corresponding period. The dividend will be paid out on Aug 20, after the record date on Aug 7.
They expect to propose a total dividend of S$0.12 per share for the 2026 financial year, at least 43 per cent higher than in FY2025.
Over the longer term, iFast’s directors noted that “there may be scope” to gradually increase the dividend payout ratio to 40 per cent, as the group’s shareholders’ equity moves closer to S$1 billion.


Link to their announcement

https://www.ifastcorp.com/ifastcorp/inve...nceId=1523

[EnSabahNur]

https://sg.finance.yahoo.com/news/ifast-...21095.html

iFAST and Xtrackers by DWS launch four ETFs on SGX

The ETFs provide exposure to AI and the equity markets of Japan, Korea and Taiwan. Expected to commence trading on Oct 22, the ETF's initial offer period is from Oct 1-14. Each share is priced at $1.

Investment and wealth platform iFAST Corporation is launching its first suite of four ETFs on the Mainboard of SGX in partnership with Xtrackers by DWS.

The ETFs are the iFAST Xtrackers Artificial Intelligence & Big Data UCITS Index ETF, iFAST Xtrackers Nikkei 225 UCITS Index ETF, iFAST Xtrackers MSCI Korea UCITS Index ETF and iFAST Xtrackers MSCI Taiwan UCITS Index ETF.

Expected to commence trading on Oct 22, the initial offer period of the ETFs is from Oct 1-14, with each share priced at $1. Besides investing in cash, eligible investors may tap Supplementary Retirement Scheme (SRS) funds to buy the ETFs.

[weijian]

A cost-to-income ratio of 35-40% would put IFAST Global Bank in the company of the 3 Spore banks. On the cost side,  IFAST Global Bank been digital in nature has a natural advantage but at the same time, it also restricts the breadth of its income potential. Non-interest income of traditional banks come from bancassurance, card payment fees, wealth/asset mgt, proprietary trading, loan origination fees etc.

Nonetheless, some of the world class digital banks (Nubank, Kakaobank, Revolut etc) have done so, in their own unique ecosystems. It will be interesting to see how Chairman Lim and his team continues to drive the cost-to-income ratio lower over time via expanding the breadth of its offerings.

iFast eyes growth opportunity in underserved mass-market banking segment

With the bank still in the initial years of profitability, Lim noted that he expects that the ramp-up can be quite rapid, adding that the current cost to income is around 80 per cent now.

“By 2030, in our scenario planning, if we can achieve a deposit base of S$15 billion… we should be targeting a cost-to-income ratio of 35 to 40 per cent at that point of time,” he said.

For its multi-currency debit-card service, iFast is expanding beyond the UK to seven markets: Hong Kong, Singapore, Thailand, Malaysia, Taiwan, Pakistan and Germany.

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