Ifast Corporation Ltd · SGX:AIY
Ifast — Merger or Acquisition (January 2022)
17 slides from Ifast's merger presentation, Jan 7, 2022
Slide 1: Proposed Acquisition of a UK Bank
iFAST Corporation Ltd. Proposed Acquisition of a UK Bank 7 JANUARY 2022
Slide 2: Disclaimer
Disclaimer This presentation should be read as an overview of iFAST Corporation Ltd.’s (“iFAST Corp” or the “Company”, and together with its subsidiaries, the “Group”) current business activities and operating environment. This presentation should not be solely relied upon by current and potential i
Slide 3: Contents
Contents Section I Adding a Digital Bank to the iFAST Fintech Ecosystem Pg. 4 Section II The Proposed Acquisition Pg. 9 Section III Conclusion and Recap of the Five-Year Plan Pg. 14 3
Slide 4: Adding a Digital Bank to the iFAST Fintech Ecosystem
SECTION I Adding a Digital Bank to the iFAST Fintech Ecosystem 4
Slide 5: The Future of Wealth Management and Digital Banking
The Future of Wealth Management and Digital Banking • The Group believes that the future of wealth management is one where many investors from various emerging markets will be looking for the best wealth management platforms across the world that can provide them seamless access and connectivity to
Slide 6: Adding a Digital Bank to the iFAST Fintech Ecosystem
Adding a Digital Bank to the iFAST Fintech Ecosystem Online Account Multi-Currency Opening Deposits Digital Bank Payment / Banking as a Remittance Service (BaaS) Fund Stock Houses Exchanges Retail FA Companies Banks Investors Holds relevant Investment Cash licences in 5 Products Management markets &
Slide 7: Banks and Wealth Management
Banks and Wealth Management • In most countries around the world, the biggest players in the wealth management industry are banks. This is not surprising given that banks have the advantage of consumers’ cash sitting within the banks. • iFAST Corp has made substantial progress as a wealth management
Slide 8: Adding a Digital Bank to the iFAST Fintech Ecosystem
Adding a Digital Bank to the iFAST Fintech Ecosystem • Adding a digital bank to the iFAST Fintech Ecosystem will have the effect of allowing the Group to acquire more customers globally at a faster pace, as it taps into the growing demand of customers around the world for good wealth management and
Slide 9: The Proposed Acquisition
SECTION II The Proposed Acquisition 9
Slide 10: Background of the Proposed Acquisition
Background of the Proposed Acquisition • On 6 January 2022, the Group signed an agreement with its partner, Eagles Peak Holding Limited (“EPHL”), to acquire BFC Bank Limited (“BFC Bank” or ”UK bank”) from BFC Group Holdings (“BFC Group”, based in Bahrain). The Group will have an 85% stake in BFC Ban
Slide 11: About BFC Bank
About BFC Bank • BFC Bank is a full licensed UK bank operating under the Financial Services Compensation Scheme, and is authorised by the Prudential Regulation Authority of the United Kingdom (“PRA”) and Financial Conduct Authority of the United Kingdom (“FCA”). • Key financial numbers of BFC Bank a
Slide 12: The Proposed Acquisition
The Proposed Acquisition • Based on the net loss of approximately £1.9 million (equivalent to approximately S$3.4 million) which is based on an 85.0% stake in BFC Bank for 9M2021, and the Group’s net profit of approximately S$27.8 million for 9M2021, the net loss attributable to the assets acquired
Slide 13: The Proposed Acquisition
The Proposed Acquisition • There will be an additional Injection Amount of £15.0 million (approximately S$27.5 million) to fund a capital injection into BFC Bank. • The Total Investment Amount of £40.0 million (equivalent to approximately S$73.4 million) comprising the Acquisition Amount of £25.0 mi
Slide 14: Conclusion and Recap of the Five-Year Plan
SECTION III Conclusion and Recap of the Five-Year Plan 14
Slide 15: Recap: iFAST's Five-Year Plan
Recap: iFAST’s Five-Year Plan 1. Get Bigger and Better: Continue to work on increasing the scale and quality of its Fintech wealth management platform in various markets, in line with the Group’s target AUA of S$100 billion by 2028. 2. Accelerate Hong Kong Growth: Substantially accelerate the growth
Slide 16: Conclusion: Recap of the Five-Year Plan
Conclusion: Recap of the Five-Year Plan • The proposed acquisition of the UK bank will enable the Group to add a digital bank to its Fintech Ecosystem. In an increasingly digitally-connected world, this will help to accelerate the growth of its overall wealth management business. • The Group will fo
Slide 17: Thank You!
TO HELP INVESTORS AROUND THE WORLD INVEST GLOBALLY AND PROFITABLY THANK YOU! For more information, please visit: www.ifastcorp.com iFAST Corporation Ltd.