iFAST Corporation sets 2030 targets for S$100 billion AUA and S$15 billion deposits

SGX Filings
05/22

iFAST Corporation (AIY) told shareholders at its Annual General Meeting on Apr, 24 2026 that it is aiming to grow assets under administration to about 100 billion Singapore dollars by 2030, implying an annual compound growth rate of 25.6% from end-2025 levels.

Management said the scenario assumes organic expansion across wealth management and banking, with iFAST Global Bank expected to lift deposits from roughly 1.6 billion Singapore dollars at Mar, 31 2026 to about 15 billion Singapore dollars by 2030, a projected 56.9% compound annual increase. The bank currently generates more than 200 basis points in combined net interest and fee income, while the Group’s blended net revenue margin is forecast to normalise to about 60 basis points.

The company confirmed that its margin outlook excludes revenue from the Hong Kong eMPF contract and assumes lower-margin contributions from the territory’s ORSO and Macau CPF businesses.

Management also updated on recent initiatives: • Acquisition of a 30% stake in Financial Alliance Corporation is pending final regulatory approval; the investment was agreed at about 16-times earnings and will be equity-accounted. • A partnership with Ant International’s Alipay+ will add worldwide QR “Scan & Pay” capability for iFAST Global Bank customers, expanding payment functionality for non-resident account holders. • First-quarter 2026 deposits rose to around 1.61 billion Singapore dollars, up from 1.57 billion Singapore dollars at end-2025, while group customer accounts grew 15% quarter-on-quarter, helped by a Shopee partnership in Malaysia.

Management reiterated a dividend payout ratio of 25%–30% and said any future increases will be gradual as the Group prioritises balance-sheet strength during its growth phase.

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