IFS Capital (I49) investor relations material

Executive summary

• Profit before tax rose 47.9% YoY to S$4.6 million; profit for the period increased 38.1% to S$3.1 million.

• Higher lending income and insurance revenue, plus lower impairment allowances, supported earnings; higher operating expenses and insurance claims partly offset the gains.

Financial highlights

• Net interest income increased 13.2% YoY to S$16.2 million; interest income rose 3.3% to S$19.0 million, while interest expense fell 31.6% to S$2.8 million.

• Insurance revenue grew 28.9% to S$12.1 million; insurance service result improved to a S$1.0 million loss from a S$1.5 million loss.

• Non-interest income increased 8.0% to S$6.2 million; fee and commission income rose 16.7% to S$5.3 million, while net investment income fell 54.8% to S$0.3 million.

• Operating expenses increased 19.4% to S$14.4 million, reflecting higher technology, marketing and staff-related expenses.

• Allowances for loan losses and impairment fell 31.0% to S$2.4 million; Stage 3 provisions declined 28.8% to S$2.4 million.

Outlook and guidance

• Results were in line with the outlook statement issued with FY2025 results.

• Private credit expansion will remain selective, prioritising credit quality, sound security and borrowers resilient across scenarios.

• Asset management plans to build on its private-credit platform as investor interest remains strong for high-quality secured private credit with stable income.

• Insurance plans to manage claims, improve underwriting and diversify beyond motor into other personal and commercial lines.