iFAST Corp net profit soars 46.3% YoY in Q4 2024

For FY2024, net profit rose 135.7% YoY to $66.63m.

iFAST Corp reported a 46.3% year-on-year (YoY) surge in net profit to $19.28m in Q4 2024.

For the full year 2024, net profit surged 135.7% YoY to $66.63m from $28.27m a year ago.

Revenue rose 13.6% YoY to $64.90m in Q4 2024 and 3.6% YoY to $248.38m in FY2024 driven by contributions from the improvements across the group’s core wealth management platform business and a turnaround of iFAST Global Bank (iGB).

In addition, revenue from its non-banking operations increased 6.2% YoY to $57.18m in Q4 2024 and 51.2% in FY2024 to $225.79m.

iFast Corp proposed a dividend of $0.0160 per ordinary share for FY2024, increasing from the $0.0140 per ordinary share in FY2024, subject to shareholder’s approval at the company’s Annual General Meeting (AGM) on 28 April.

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