iFast credits ePension and wealth management for profit boost

In Q2, the company reported a 346.1% YoY higher net profit of $16.03m.

iFast Corporation saw its net profit soar by 346.1% YoY to $16.03m in Q2 2024 amidst double-digit gross and net revenue increases.

In Q2 2024, the company reported a gross revenue of $93.75m, up 72.9% YoY, and a net revenue of $61.38m, up 93.0% YoY.

The company attributed its improved bottom line to contributions from its ePension division and improvements in its core wealth management platform business.

The company expects its ePension division in Hong Kong to be an “important growth driver” in 2024 and 2025 and the wealth management platform to continue to show healthy progress.

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