4 Surprising Insights from iFAST’s Record-Breaking Quarter

iFAST Corp recently announced a record-breaking quarter, with Assets Under Administration (AUA) hitting a new high of S$30.62 billion and net profit jumping 54.7% year-over-year. While these headline figures are impressive, the most interesting stories are often found by digging deeper into the financial results. The numbers reveal a company making precise strategic moves that are paying off in significant ways.

This analysis uncovers the key trends and strategic successes powering iFAST’s growth. We will explore four pivotal takeaways that go beyond the surface-level results: the dramatic turnaround of its UK banking division, the emergence of Hong Kong as a powerful growth engine, an ambitious ecosystem strategy designed to capture and retain client assets, and a direct commitment to increasing shareholder returns.

1. From Millions in Losses to Sustained Profit: The Bank’s Dramatic Turnaround

One of the most impactful stories in iFAST’s recent performance is the transformation of iFAST Global Bank in the UK. After achieving its initial quarter of profitability in Q4 2024, the bank has now delivered four consecutive quarters of profitability, proving its initial success was not a fluke.

The scale of this reversal is stark. For the first nine months of 2025 (9M2025), the bank posted a net profit of S2.01 million. This stands in sharp contrast to the S4.67 million loss it recorded during the same period in the prior year (9M2024). The primary driver behind this growth has been an impressive 92.7% year-over-year increase in customer deposits, which reached S$1.55 billion. This turnaround is significant because it validates the strategic acquisition of the bank, adds a new and stable profit center to the Group, and demonstrates the company’s ability to execute a complex, long-term strategy. Underscoring the sustainability of this success, the company has affirmed that the bank remains on track to deliver full-year profitability in 2025.

2. Beyond Singapore: Hong Kong Emerges as a Key Profit Engine

While Singapore remains the largest contributor to iFAST’s assets, a closer look at profitability reveals that the Hong Kong business has become a standout driver of financial performance. The overall Hong Kong business delivered a profit before tax of S$19.39 million in the third quarter of 2025, a substantial 46.4% increase year-over-year and an impressive 23.3% quarter-over-quarter.

Crucially, this growth is not solely from the core wealth management platform. A significant contribution comes from its “ePension” division, which provides pension administration services. This highlights a successful diversification of revenue streams within a key geographical market. It shows that iFAST has developed multiple engines for growth beyond its primary wealth management business in its home market of Singapore.

3. It’s Not Just a Platform, It’s a Financial ‘Ecosystem’

iFAST’s overarching strategy is not just to offer a suite of financial products, but to build a “seamlessly connected global digital banking and wealth management ecosystem.” A core component of this vision is “iFAST Bridge,” a feature designed to allow customers to transfer money “swiftly and at no cost” between their global banking and investment accounts within the iFAST network.

The strategic brilliance of this model lies in its integration. By combining banking and payments with wealth management, the platform makes it frictionless for customers to fund their investments. This integration creates a “stickier” environment where money is less likely to leave the ecosystem, which in turn helps fuel the growth of Assets Under Administration. The recent approval-in-principle for payment licenses in Malaysia is a concrete example of this ecosystem strategy expanding into new regions.

4. Record Profits are Being Shared Directly with Investors

iFAST is actively translating its operational success into direct and growing returns for its shareholders. The company has proposed a third interim dividend of 2.30 cents per share, a 53.3% increase compared to the same period last year.

Looking ahead, the company’s Directors have provided strong forward guidance, stating they expect to propose total dividends for the full fiscal year 2025 of 8.20 cents per share or higher. This would represent at least a 39.0% year-over-year increase. The company’s philosophy on this matter is clear, as stated in its report:

“A healthy ROE allows the Group to be able to pursue robust long-term growth strategies while being able to raise our dividend payouts.”

This commitment is backed by strong performance metrics. The Group’s annualised Return on Equity (ROE) reached 26.1% in the first nine months of 2025, a record high since its public listing.

Beneath the headline numbers of iFAST’s record quarter lies a story of strategic execution. The successful turnaround of its UK bank, the diversified profit growth from Hong Kong, a powerful and expanding financial ecosystem, and a strong commitment to shareholder returns all point to a company with a clear vision and the ability to deliver on it.

With a profitable global bank now at the core of its ecosystem and a target of S$100 billion in assets by 2028-2030, what could be the next major growth catalyst for iFAST?

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