Disclosure: I own shares of iFAST and this post isn’t investment advice. “ iFAST Group is steadily increasing its capability and presence as a global digital banking and wealth management group, with iFAST Global Bank as part of its global Fintech ecosystem” Buckle up! The above statement says it all. The next few quarters are going to be a real roller-coaster for iFAST as they execute on their digital banking and ePension targets.
Revenue and earnings
iFAST posted another record quarter for earnings with net profit growing 387% y/y because of ePension contributions. Earnings could accelerate again over the next few quarters once the eMPF trustees begin onboarding. iFAST will comfortably exceed their profit targets even if you just annualize 1Q24 pretax profit. Higher cash flow from the ePension segment should also materialize over the next few quarters with eMPF gaining momentum.
Deposit growth
Net inflow of…
