SingFinance’s profit after tax grows 9% YoY in FY2024

The company recommended a first and final dividend of $0.065 per share.

SingFinance reported a 9% year-on-year increase in its net profit after tax to $36.3m for the financial year ended 31 December 2024.

This included a $7.5m recovery of bad debts and credit allowances, compared to an immaterial provision for credit allowances last year.

The group’s operating profit reached a record $43.7m, due to a strong double-digit growth in net interest income and non-interest income, along with a slight cost reduction.

Strong non-interest income was driven by a 58% growth in fees and commission to $3.3m alongside a 4% increase in rental proceeds to $3.5m. Total income grew by 18% to a record $72m.

The company recommended a first and final dividend of $0.065 per share one-tier tax exempt for approval by the shareholders.

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