iFAST

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(08-05-2024, 10:04 PM)Curiousparty Wrote:
(07-05-2024, 09:00 PM)EnSabahNur Wrote:
(05-05-2024, 10:13 PM)Curiousparty Wrote: https://www.theedgesingapore.com/news/ba...4-says-ceo

To Gupta, its wealth management books improved as its customers were beginning to put their money into investment products. The growth was also partly from the low base in the 1QFY2023 from the Credit Suisse impact.

Net new money, which stood at around $6 billion for the quarter, also remained on track to see the same amount of close to $24 billion in FY2022 and FY2023.

“A lot of the money, when they first come in, is through fixed deposits. When the market improves and people’s animal spirits come up, they’re putting their money to work,” Gupta explains.

========


In comparison, iFast net inflow ('net new money") was about ~10% that of DBS at $688mil!
DBS's MC was ~$100bil
iFast MC was ~$2.3bil

while the same point applies to iFast taking in deposits, what other acquisitions do you think iFast might need to make, in order to become a full service bank like DBS?

What's the "MC" referring to in your post?

Where is the DBS net inflow that you are comparing iFast's against? Are you referring to the rise in deposits at DBS of about 7 billion?
"iFast net inflow ('net new money") was about ~10% that of DBS at $688mil!"

MC - market cap.
A lot of people didn't know that iFast only has ~300mil shares...it just takes a bit of buying or accumulation by big whales for share price to move a few $ easily...

The news on DBS used the term "NET NEW MONEY" , while iFast used the term "Net inflow" in their report. I believe they meant the same thing, essential the net inflow into the ecosystem or platform.

the UK IGB (iFast Global Bank) is a FULL bank...

Hi Curiousparty,

While both are talking about same net inflow of money but there is a difference in the nature of each entity (DBS and IFAST) handling it.

DBS's inflows are majority customer deposits in which DBS has the right to determine how to use them, ie. lending to who and who. Hence their control of the money usage is similar to asset managers and so we could term these inflows as AUM (Asset Under Management).

IFAST's inflows (excluding iGB) are classified as AUA (Asset Under Administration). They earn fees as the middleman (ie. distributing the funds) and also charge for services they provide (trustee, IT/platform, brokerage etc). So the really comparable asset flow should be only the money that generates NIM like DBS does, ie. customer deposits.

Therefore from 1Q24 results, IFAST's customer deposits increased from 358mil to 515mil for the quarter, a 157mil increase. According to your type of comparison, it is 2.6% of DBS's inflows.
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(14-05-2024, 09:56 PM)weijian Wrote:
(08-05-2024, 10:04 PM)Curiousparty Wrote:
(07-05-2024, 09:00 PM)EnSabahNur Wrote:
(05-05-2024, 10:13 PM)Curiousparty Wrote: https://www.theedgesingapore.com/news/ba...4-says-ceo

To Gupta, its wealth management books improved as its customers were beginning to put their money into investment products. The growth was also partly from the low base in the 1QFY2023 from the Credit Suisse impact.

Net new money, which stood at around $6 billion for the quarter, also remained on track to see the same amount of close to $24 billion in FY2022 and FY2023.

“A lot of the money, when they first come in, is through fixed deposits. When the market improves and people’s animal spirits come up, they’re putting their money to work,” Gupta explains.

========


In comparison, iFast net inflow ('net new money") was about ~10% that of DBS at $688mil!
DBS's MC was ~$100bil
iFast MC was ~$2.3bil

while the same point applies to iFast taking in deposits, what other acquisitions do you think iFast might need to make, in order to become a full service bank like DBS?

What's the "MC" referring to in your post?

Where is the DBS net inflow that you are comparing iFast's against? Are you referring to the rise in deposits at DBS of about 7 billion?
"iFast net inflow ('net new money") was about ~10% that of DBS at $688mil!"

MC - market cap.
A lot of people didn't know that iFast only has ~300mil shares...it just takes a bit of buying or accumulation by big whales for share price to move a few $ easily...

The news on DBS used the term "NET NEW MONEY" , while iFast used the term "Net inflow" in their report. I believe they meant the same thing, essential the net inflow into the ecosystem or platform.

the UK IGB (iFast Global Bank) is a FULL bank...

Hi Curiousparty,

While both are talking about same net inflow of money but there is a difference in the nature of each entity (DBS and IFAST) handling it.

DBS's inflows are majority customer deposits in which DBS has the right to determine how to use them, ie. lending to who and who. Hence their control of the money usage is similar to asset managers and so we could term these inflows as AUM (Asset Under Management).

IFAST's inflows (excluding iGB) are classified as AUA (Asset Under Administration). They earn fees as the middleman (ie. distributing the funds) and also charge for services they provide (trustee, IT/platform, brokerage etc). So the really comparable asset flow should be only the money that generates NIM like DBS does, ie. customer deposits.

Therefore from 1Q24 results, IFAST's customer deposits increased from 358mil to 515mil for the quarter, a 157mil increase. According to your type of comparison, it is 2.6% of DBS's inflows.

if i could recall, iFast classified customer deposits as AUA....
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https://links.sgx.com/1.0.0/corporate-an...7bd20af984

expansion mode now?
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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