Singapore's iFAST Could Post Strong Assets Growth -- Market Talk

Dow Jones

2024-10-31

0449 GMT - Singapore's iFAST could post stronger-than-expected growth in assets under administration, UOB Kay Hian analysts say in a research report. The wealth-management fintech platform's AUA reached a record high of S$23.62 billion as of end-September, the analysts note. The brokerage now forecasts 25% growth in iFAST's AUA for 2024, up from 21% previously. The company's iFAST Global Bank is making good progress with healthy deposit inflows, they add. The bank's cross-border appeal and new products and services are expected to better position it for growth from 2025, the analysts say. The brokerage raises the stock's target to S$8.17 from S$8.03 and maintains a hold rating. Shares closed at S$7.50 on Wednesday. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

October 31, 2024 00:49 ET (04:49 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The wealth-management fintech platform's AUA reached a record high of S$23.62 billion as of end-September, the analysts note. The brokerage now forecasts 25% growth in iFAST's AUA for 2024, up from 21% previously. The company's iFAST Global Bank is making good progress with healthy deposit inflows, they add. The bank's cross-border appeal and new products and services are expected to better position it for growth from 2025, the analysts say. The brokerage raises the stock's target to S$8.17 from S$8.03 and maintains a hold rating. Shares closed at S$7.50 on Wednesday. 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The wealth-management fintech platform's AUA reached a record high of S$23.62 billion as of end-September, the analysts note. The brokerage now forecasts 25% growth in iFAST's AUA for 2024, up from 21% previously. The company's iFAST Global Bank is making good progress with healthy deposit inflows, they add. The bank's cross-border appeal and new products and services are expected to better position it for growth from 2025, the analysts say. The brokerage raises the stock's target to S$8.17 from S$8.03 and maintains a hold rating. Shares closed at S$7.50 on Wednesday. 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The wealth-management fintech platform's AUA reached a record high of S$23.62 billion as of end-September, the analysts note. The brokerage now forecasts 25% growth in iFAST's AUA for 2024, up from 21% previously. The company's iFAST Global Bank is making good progress with healthy deposit inflows, they add. The bank's cross-border appeal and new products and services are expected to better position it for growth from 2025, the analysts say. The brokerage raises the stock's target to S$8.17 from S$8.03 and maintains a hold rating. Shares closed at S$7.50 on Wednesday. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"AIY.SI":"奕丰集团","BK6503":"金融科技概念","POST":"Post Holdings","BK6052":"资产管理与托管银行","BK4212":"包装食品与肉类"},"translate_title":"新加坡奕丰资产可能强劲增长——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"POST":1,"AIY.SI":0.9},"content_text":"0449 GMT - Singapore's iFAST could post stronger-than-expected growth in assets under administration, UOB Kay Hian analysts say in a research report. The wealth-management fintech platform's AUA reached a record high of S$23.62 billion as of end-September, the analysts note. The brokerage now forecasts 25% growth in iFAST's AUA for 2024, up from 21% previously. The company's iFAST Global Bank is making good progress with healthy deposit inflows, they add. The bank's cross-border appeal and new products and services are expected to better position it for growth from 2025, the analysts say. The brokerage raises the stock's target to S$8.17 from S$8.03 and maintains a hold rating. Shares closed at S$7.50 on Wednesday. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 31, 2024 00:49 ET (04:49 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}