Sing Investments & Finance H1 net profit up 35% at S$21.7 million

[SINGAPORE] Mainboard-listed Sing Investments & Finance (SingFinance) on Tuesday (Aug 5) posted net profit of S$21.7 million for its first half ended June, a 35 per cent increase from S$16.1 million in the year-ago period.

Earnings per share for the period stood at S$0.1835, compared to S$0.1361 in H1 2024.

Revenue dipped marginally by 1 per cent to S$73.1 million from S$73.7 million previously.

No dividend was declared for the six-month period.

Net interest income and hiring charges climbed 17 per cent to S$35.6 million from S$30.4 million, on the back of a 23 basis points expansion in net interest margin, which rose to 2.15 per cent from 1.92 per cent previously.

Non-interest income rose 53 per cent on the year to S$5.2 million from S$3.4 million. This was driven by higher contributions from its fees and commissions as well as rental segments, which clocked 107 per cent and 16 per cent of income growth, respectively.

The lender’s non-performing loans ratio stood at 0.2 per cent, down from 0.3 per cent in the same period the previous year.

SingFinance highlighted that growth is likely to ease in the second half of the year as trade flows normalise in the wake of the front-loading spike in trade activity during H1, when businesses rushed orders ahead of expected tariffs.

Noting that interest rates have declined as inflation continues to ease, the lender said it will continue to seek opportunities to grow its business while managing risk exposures.

Shares of SingFinance finished Tuesday 0.8 per cent or S$0.01 higher at S$1.25, before the results were released.