Shares of iFAST Corporation Limited (SGX: AIY) are up over 166% year to date.
The financial technology (fintech) company has witnessed a surge in account openings and fund inflows in the last 18 months as more people head online due to the pandemic.
In the process, the group’s assets under administration (AUA) also scaled record highs, ending the third quarter of the fiscal year 2021 (3Q2021) at S$18.38 billion.
In line with higher inflows and increased AUA, iFAST also reported a strong set of financial numbers, with net profit for the first nine months of 2021 (9M2021) surging by 63.6% year on year to S$23.4 million.
There is much to look forward to for the fintech company.
The company’s Hong Kong division is also set to receive a massive boost in profits from winning the Hong Kong electronic Mandatory Provident Fund (eMPF) contract.
Not content to rest on its laurels, iFAST has also announced a five-year plan with four strategic initiatives to...