iFAST Profit Rises 24.5% to S$32.37 Million in Third Quarter
Key Facts
iFAST raised net profit attributable to shareholders by 24.5% year on year to S$32.37 million in the third quarter ended September 30, 2026, as total revenue grew 23.0% to S$167.01 million. The company said in its results statement released on October 26 that the revenue improvement came from stronger contributions from its e-pensions business and digital bank, alongside an improvement in its core wealth management platform. Earnings per share rose to S$0.1056 from S$0.0856 in the same period a year earlier. Assets under management reached a record S$36.76 billion, up 20% year on year. The company attributed the increase to strong net inflows and positive financial-market performance.
Growth extended to results for the first nine months of the year, with net profit rising 34.4% to S$90.3 million and revenue increasing 33.2% to S$483.5 million, compared with S$363 million in the same period of 2025. These figures show that cumulative growth outpaced the third quarter’s pace in both revenue and profit. In Singapore, net operating revenue rose 20.5% year on year during the quarter. Assets under management from Singapore operations also increased 16.6% through September 30, setting a new quarterly record. The domestic market thus provides part of the expansion picture, alongside contributions from the digital bank and e-pensions cited by the company.
The digital bank emerged as an additional driver of results, with iFAST Global Bank recording year-on-year growth of 964.7% in pre-tax profit to S$3.29 million in the third quarter. The company said the jump in profitability was underpinned by 67.1% growth in the bank’s net revenue. The performance followed the bank’s first full year of profitability in 2025, according to the statement. The company expects the bank’s pre-tax profit to exceed S$10 million in financial year 2026, an increase of more than 200% compared with S$3.1 million in 2025. This banking trajectory adds a source of growth alongside the wealth management and e-pensions businesses.
The results came in a quarter the company described as mixed for markets, with broad weakness in fixed-income markets and greater resilience in equities. Asia ex-Japan equities recorded a negative return of 0.40% in the third quarter, but delivered a return of 25.8% from the start of the year through the end of September. On October 1, iFAST launched its first exchange-traded funds on the Singapore Exchange in partnership with DWS’s Xtrackers. Despite the growth in results, the stock closed down 0.6%, or S$0.05, at S$8.01 on October 26, before the results were released that day. The contrast between the share-price move and profit growth places the announcement session in the context of trading ahead of the statement’s release.
The board proposed an interim dividend of S$0.032 per share for the third quarter, up 39.1% from S$0.023 in the corresponding period. The company raised its guidance for financial year 2026, expecting to propose total dividends of at least S$0.12 per share, an increase of at least 43% compared with financial year 2025; its previous guidance in April was S$0.105 or more per share. The third interim dividend will trade ex-dividend on November 4, 2026, with the record date on November 5 at 5 p.m. and payment on November 19. On expansion, the group continues to work toward reaching S$100 billion in assets under management by 2030. It said achieving the target will require compound annual growth of at least 26.5% over the next four to five years.