Singapura Finance (S23) Investor presentation summary

Financial performance

• Loan portfolio reached $989.78m in 2024 from $831.06m in 2023, a stated YoY increase of $158.72m and almost 20%.

• Group NIM declined to 1.87% in 2024 from 2.00% in 2023, as higher interest expense outweighed higher revenue.

• NPLs were $28.49m in 2024 versus $27.65m in 2023, described as relatively stable.

• Revenue grew amid a challenging operating environment, while relatively high operating costs and interest expense remained pressures.

Loan portfolio

• Mortgage loans form the portfolio’s largest concentration and are a lower interest margin product.

• Portfolio categories also include construction, block discounting, shipping, HP auto and equipment, stock and share, syndicated, unsecured business and ESG loans.

Execution and priorities

• Grew the loan base to $1bn, revived equipment loans, launched Doctor Loans and continued efforts to improve block discounting utilization; loan margins were compressed.

• Launched digital fixed-deposit renewals, continued CASA growth and worked to build Vivid savings deposits and internet banking traction.

• Priorities include growing loan volume, focusing on higher-margin loans, improving facility utilization and developing more loan products.

• Plans include expanding Vivid Life cards, savings and fixed deposits; refreshing digital channels and brand presence; and using digitalization to drive revenue and improve processing time.