iFAST Corporation Ltd. reported a 47.5% year-on-year (YoY) jump in net profit to S$28.0 million for the quarter ended 31 March 2026, buoyed by expanding contributions from its Hong Kong ePension operation and continued growth in core wealth-management activities despite volatile global markets.
Total revenue rose 44.5% YoY to S$154.5 million, while group EBITDA increased 39.6% to S$45.7 million. The board declared a first interim dividend of 2.50 Singapore cents per share, 56.3% higher than a year earlier. For the full year, directors intend to propose a total payout of at least 10.5 cents a share, representing a minimum 25% increase on FY2025.
Pre-tax profit climbed to S$33.54 million. By market, Hong Kong led with S$17.99 million (up from S$14.41 million a year earlier), followed by Singapore at S$13.67 million. Malaysia contributed S$2.08 million, while China and “Others” posted small pre-tax losses of S$0.44 million and S$0.45 million respectively. The UK banking unit swung to a S$0.69 million profit from a loss a year ago.
Operationally, assets under administration (AUA) reached a record S$32.64 billion, up 27.1% YoY, cushioned by S$1.25 billion in net inflows and a 47.1% YoY rise in unit-trust subscriptions to S$3.33 billion. Management acknowledged that heightened geopolitical tensions in the Middle East and volatile energy prices weighed on market sentiment, but said diversified product flows and expanding bank deposits helped offset market swings.
Looking ahead, iFAST reaffirmed its “Vision 2030” scenario plan targeting S$100 billion in AUA by 2030, implying a compound annual growth rate of 25.6% group-wide, led by Singapore (22.5% CAGR), Hong Kong (26.2%) and the UK (56.9%). At that scale, management estimates net revenue from wealth management and banking could reach roughly S$600 million, assuming a net revenue margin of about 60 basis points. The company expects operating leverage to improve as headcount peaks mid-2026 and declines thereafter, supported by ongoing adoption of artificial intelligence and automation.
Among recent strategic initiatives, iFAST Global Bank will launch “Worldwide Scan & Pay” in the second quarter through a partnership with Ant International’s Alipay+, enabling clients to make QR code payments at more than 150 million merchants across over 100 markets. The group also aims to expand payment services, bolster its bond marketplace, and enhance ePension service quality under its 2026-2028 plan, maintaining confidence in “healthy” revenue and profit growth for the year, barring unforeseen disruptions.