Being in a consortium for one of the three digital wholesale banking licences in Singapore is also seen as a positive due to potential new business lines. This includes small and medium enterprise micro-lending, which can funnel in additional business opportunities, KGI noted.
"With a 20-year track record of developing its multi-asset platform, iFast would be ready to quickly scale up if it wins one of three digital wholesale banking licences in Singapore," Mr Tan said. iFast's first-quarter results were also found to be encouraging, as the fall-off for assets under administration was minimal. Market volatility had also brought up business-to-consumer sales by 40.4 per cent year on year. Moreover, iFast shared that AUA has returned to the S$10 billion figure.
KGI is anticipating AUA to grow for the rest of the year, barring another black swan event. Revenue mix is also expected to shift in favour of platform fees due to pressure on active asset management., holds an approximately 15 per cent stake in iFast through its subsidiary SPH Invest.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump's order taking aim at Twitter is 'bluster', say legal expertsWASHINGTON (REUTERS) - US President Donald Trump's attempt to curb what he says is social media censorship is a political gambit and will not change the legal obligations of companies like Twitter Inc and Facebook Inc, according to legal experts.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Trump's order taking aim at Twitter is 'bluster': legal expertsU.S. President Donald Trump's attempt to curb what he says is social media censorship is a political gambit and will not change the legal ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US stocks to end year around current levels as virus takes toll: Reuters pollU.S. stocks will end this year around current levels as the coronavirus pandemic cripples the economy and eats into earnings, according to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Nokia veteran Sari Baldauf takes over as 5G battle ragesSari Baldauf took over as chairwoman of telecoms equipment maker Nokia on Wednesday, succeeding Risto Siilasmaa who chaired the Finnish firm for ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
'They killed him': Sister of Minneapolis black man who died after arrest calls for justiceWASHINGTON (REUTERS) - The sister of an African-American man who died shortly after a white Minneapolis police officer pinned him down with a knee to the neck called for justice on Wednesday (May 27), saying the firing of four policemen over the deadly incident was not enough.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Ferragamo calls back Norsa to help weather COVID stormItalian luxury group Salvatore Ferragamo has called back former CEO Michele Norsa as executive director to help management revamp the brand and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »