iFAST Global Bank Turns Profitable After Years of Losses
Event summary
- iFAST Global Bank reported its first full year of profitability in FY2025, with a profit before tax of S$3.11 million (£1.80 million), reversing a loss of S$4.36 million (£2.52 million) in FY2024.
- Gross revenue increased by 61.1% YoY to S$83.81 million (£48.5 million) in FY2025.
- The bank launched its Commercial Banking Suite in 2025, aimed at supporting small businesses and corporations with multi-currency financial management.
- iFAST Global Bank was recognized as the 'Best Consumer's Choice - Highly Commended' at the Moneyfactscompare.co.uk Awards 2026 and 'Best Newcomer' at the British Bank Awards 2025.
The big picture
iFAST Global Bank's transition to profitability marks a significant milestone in the digital banking sector, highlighting the growing demand for streamlined financial services. The bank's focus on enhancing digital personal and business banking services positions it to compete with established players in the UK and beyond. With assets under administration of S$31.98 billion as of December 2025, iFAST Global Bank is well-positioned to capitalize on the trend towards digital transformation in the financial services industry.
What we're watching
- Revenue Growth
- Whether iFAST Global Bank can sustain its 61.1% YoY revenue growth in 2026, given the competitive landscape of digital banking.
- Product Expansion
- The pace at which the bank can enhance its Digital Transaction Banking capabilities and attract non-bank financial institutions (NBFI) and banks.
- Regulatory Compliance
- How the bank's expansion plans align with the regulatory requirements of the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
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