iFast notes that growth in profit was substantially higher than the growth in revenue. The Group’s profit before tax margin as a percentage of net revenue increased from 17.0% in 2019 to 28.3% in 9M20.
Digital bank hopeful iFast Corp has reported record high net profit and assets under administration (AUA) in 3Q20 of $6.16 million and $12.59 billion respectively.
Net profit grew 150.6% y-o-y, achieved on the back of a 35.7% y-o-y increase in net revenue to $22.9 million and a 33.3% y-o-y increase in gross revenue to $45.0 million.
