118 views
Photo from Shutterstock

iFast credits ePension and wealth management for profit boost

In Q2, the company reported a 346.1% YoY higher net profit of $16.03m.

iFast Corporation saw its net profit soar by 346.1% YoY to $16.03m in Q2 2024 amidst double-digit gross and net revenue increases.

In Q2 2024, the company reported a gross revenue of $93.75m, up 72.9% YoY, and a net revenue of $61.38m, up 93.0% YoY.

The company attributed its improved bottom line to contributions from its ePension division and improvements in its core wealth management platform business.

The company expects its ePension division in Hong Kong to be an “important growth driver” in 2024 and 2025 and the wealth management platform to continue to show healthy progress.  
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!