By Kimberley Kao
iFast's shares posted their highest intraday percentage gain in nearly four months after its Assets Under Administration hit a record 19.83 billion Singapore dollars (US$14.75 billion) in 2023.
Shares were 6.1% higher at S$8.38 in Thursday trade after gaining as much as 6.3% earlier in the Singapore exchange.
The fintech company said net profit in 2023 rose to S$28.3 billion while revenue gained 23% to S$256.5 million.
The digital banking and wealth management platform said it expects robust growth rates in revenues and profitability this year as compared with 2023.
The Singapore-based company has been listed on the exchange since 2014 and operates in Hong Kong, Malaysia, China, and the U.K.
It offers access to over 21,000 investment products, including over 13,000 funds from over 320 fund houses, over 2,500 bonds, stocks, and ETFs listed on Singapore, Hong Kong, US, Malaysia, UK, and China A stock exchanges.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
February 21, 2024 23:23 ET (04:23 GMT)
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