Singapore's IFAST Q3 revenue rises on ePension growth

Overview

• Singapore financial services platform's Q3 net income rose 24.6% yr/yr

• Q3 revenue grew 23% yr/yr

• Company attributed growth to higher commission, fee income and increased interest revenue

Outlook

• Company expects FY26 total dividend of at least 12.00 Singapore cents a share, raising guidance from at least 10.50 cents

• iFAST targets S$100 bln of AUA by 2030, implying CAGR of at least 26.5% over the next four to five years

Result Drivers

• ASSETS UNDER ADMINISTRATION – Net inflows of S$1.24 bln and positive markets lifted AUA 20.0% yr/yr to S$36.76 bln, supporting fee income

• EPENSION, BANK AND WEALTH PLATFORM – Revenue growth was driven by stronger contributions from ePension, iFAST Global Bank and the core wealth-management platform

• PLATFORM EXPANSION COSTS – Operating expenses rose as iFAST invested in ePension, investment products and Fintech capabilities

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the financial technology (fintech) peer group is "buy"

• Wall Street's median 12-month price target for IFAST Corporation Ltd is S$12.17, about 51.9% above its October 26 closing price of S$8.01

• The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 20 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)