iFAST Corporation Limited (SGX: AIY) is a financial technology company that operates a platform for the buying and selling of unit trusts, equities, and bonds.
The fintech company has a presence in Singapore, Malaysia, Hong Kong, China, and India.
The group has reported rapid growth as more people hop onto its platform to look for suitable investment products.
The below is our quick take on iFAST’s latest earnings.
What
For the first nine months of 2021 (9M2021), iFAST reported a stellar set of financial numbers.
Gross revenue rose by 38.1% year on year to S$161.7 million while operating profit surged by 59.2% year on year to S$27.8 million.
Assets under administration (AUA) grew by 46.1% year on year for the third quarter of 2021 (3Q2021) to hit S$18.38 billion.
Meanwhile, its wealth advisory arm, iFAST Global Markets, also recently reported that its AUA has crossed the S$1 billion milestones.
The group has been beefing up its capabilities...
