iFAST Global Bank Achieves First Full Year of Profitability
iFAST Global Bank Achieves First Full Year of Profitability |
| [16-March-2026] |
LONDON, March 16, 2026 /PRNewswire/ -- iFAST Global Bank (the "Bank"), part of iFAST Corporation Ltd. ("iFAST Corp" and together with its subsidiaries, the "Group"), has achieved its first full year of profitability in FY2025, marking a significant milestone in the Bank's growth trajectory. The Group expects the Bank to build on this achievement with continued strong growth in 2026 and beyond. Following its first profitable quarter in 4Q2024, iFAST Global Bank recorded a profit before tax of S$1.10 million (£0.64 million) in 4Q2025, representing a 263.9% Year-on-Year (YoY) growth. For FY2025, the Bank reported a profit before tax of S$3.11 million (£1.80 million), marking the first full year of profitability (FY2024: loss of S$4.36 million or £2.52 million). The Bank's gross revenue increased by 23.5% YoY to S$21.27 million (£12.3 million) in 4Q2025. For FY2025, gross revenue rose by 61.1% YoY to S$83.81 million (£48.5 million), compared to S$52.01 million (£30.1 million) in FY2024. *GBP figures are derived from Singapore Dollar amounts based on the month-end exchange rate in December 2025 (S$ per GBP). Strengthening Digital Personal Banking iFAST Global Bank continues to enhance its Digital Personal Banking services, with a focus on improving everyday banking. Key enhancements include:
Expanding Business Banking In 2025, the Bank also launched its Commercial Banking Suite, designed to support small businesses and corporations with streamlined multi-currency financial management. The suite enables businesses to manage nine major currencies in one account, earn interest on current account balances and make fast, secure global payments. Further enhancements for Digital Transaction Banking capabilities are planned for 2026, aimed at providing global banking connectivity for non-bank financial institutions (NBFI) and banks. This continued expansion reinforces iFAST Global Bank's position as a comprehensive digital banking partner for both individuals and businesses operating across borders. "Achieving our first full year of profitability reflects the strong momentum we have built. We will continue to expand and enhance our platform, introducing new services that support the evolving needs of global customers and businesses. With a solid foundation in place, we are well positioned to accelerate growth in the coming years," said Inayat Kashif, Chief Executive Officer of iFAST Global Bank. Looking ahead, iFAST Global Bank aims to build on its FY2025 profitability milestone, targeting sustained growth in the upcoming year while continuing to deliver best-in-class digital banking services to customers worldwide. About iFAST Corporation & iFAST Global Bank iFAST Corporation is a global digital banking and wealth management platform, with assets under administration of S$31.98 billion as at 31 December 2025. Established in 2000, it operates in Singapore, Hong Kong, Malaysia, China, and the UK. iFAST Global Bank is a fully licensed UK bank, offering multi-currency deposits, payment services, and remittance solutions. Regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), the Bank is a direct member of the Bank of England Faster Payment Scheme, Clearing House Automated Payment System (CHAPS) and SWIFT. iFAST Global Bank is also a member of the Financial Services Compensation Scheme (FSCS) where eligible deposits are protected up to £120,000 for each customer. iFAST Global Bank was recently recognised as the "Best Consumer's Choice - Highly Commended" at the Moneyfactscompare.co.uk Awards 2026. In recognition of its innovative practices in global digital banking services, the Bank was honoured with the "Best Newcomer" award at the British Bank Awards 2025 hosted by the UK's leading financial review platform Smart Money People. For more information, visit www.ifastgb.com and www.ifastcorp.com Media Contact: Rachelle Au-Yeung | rachelle.auyeung@ifastgb.com / corpcomms@ifastfinancial.com
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Company Codes: Singapore:AIY |
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