iFAST Corp net profit leaps nearly five times over in Q1

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pstrongThe increase in earnings was driven by contributions from its ePension division, and improvements in its wealth management business./strong/p piFAST Corporation reported a $14.51m net income in the first quarter of the year, a 387.4% year-on-year (YoY) increase backed by higher revenues from its business units.

The increase in earnings was driven by contributions from its ePension division, and improvements in its wealth management business.

In a statement, the company said its gross revenue climbed 59.4% YoY to $85.96m, attributable to contributions from the ePension division and improvements in its core wealth management platform business. “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. The Group expects iFAST Global Bank to become an important growth driver in 2025 and beyond,” it said.

 

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