Financial highlights

Five years of results for the group, with an interactive chart and data tables you can download. All figures are in Singapore dollars.

Figures, documents and dates marked Sample data are illustrative. They show how this page will work once ATW is listed and must be replaced with approved information before publication.

FY2025 at a glance

Sample data

Financial year ended 31 December 2025, compared with the previous year.

Net operating income: 36.2S$mUp 17.4% on FY2024
Profit attributable to shareholders: 13.0S$mUp 24.0% on FY2024
Net loans and advances: 268.9S$mUp 17.2% on FY2024
Net asset value per share: 51.00centsUp 16.4% on FY2024

Five-year trends

Sample data

Choose a measure to see how it has moved since FY2021. The latest year is highlighted in gold.

Net operating income

S$ million, FY2021 to FY2025. Compound annual growth 18.4%.

Figures for all years are shown in the tables below.

Where profit comes from

Sample data

Profit before tax by segment, FY2025.

Business financing and investment S$9.6m (59%)
Consumer lending S$6.7m (41%)

Financial statements summary

Sample data

Five-year summary of the group's results and financial position. Amounts in brackets are negative or deductions.

Income statement

S$'000, financial year ended 31 December

S$'000
S$'000	FY2021	FY2022	FY2023	FY2024	FY2025
Net operating income	18,420	21,950	26,310	30,880	36,240
Operating expenses	(9,870)	(11,240)	(12,960)	(14,620)	(16,480)
Allowance for expected credit losses	(1,860)	(2,140)	(2,720)	(3,050)	(3,410)
Profit before tax	6,690	8,570	10,630	13,210	16,350
Income tax expense	(1,120)	(1,430)	(1,790)	(2,210)	(2,740)
Profit after tax	5,570	7,140	8,840	11,000	13,610
Profit attributable to:
Shareholders of the company	5,210	6,720	8,390	10,480	12,990
Non-controlling interests	360	420	450	520	620
Profit before tax by segment
Business financing and investment	3,640	4,750	6,020	7,670	9,630
Consumer lending	3,050	3,820	4,610	5,540	6,720

Balance sheet

S$'000, as at 31 December

S$'000
S$'000	FY2021	FY2022	FY2023	FY2024	FY2025
Assets
Cash and bank balances	21,400	24,800	27,100	31,600	35,200
Loans and advances to customers, net	142,600	168,300	196,800	229,400	268,900
Other assets	8,300	8,400	10,700	12,800	14,300
Total assets	172,300	201,500	234,600	273,800	318,400
Liabilities
Borrowings	84,500	101,200	120,300	141,800	164,900
Other liabilities	11,700	13,700	16,400	18,300	21,400
Total liabilities	96,200	114,900	136,700	160,100	186,300
Equity
Equity attributable to shareholders	72,900	83,100	94,300	109,500	127,500
Non-controlling interests	3,200	3,500	3,600	4,200	4,600
Total equity	76,100	86,600	97,900	113,700	132,100

Per share and dividends

Singapore cents unless stated

Per share
Per share	FY2021	FY2022	FY2023	FY2024	FY2025
Number of shares in issue ('000)	250,000	250,000	250,000	250,000	250,000
Earnings per share (cents)	2.08	2.69	3.36	4.19	5.20
Net asset value per share (cents)	29.16	33.24	37.72	43.80	51.00
Dividend per share (cents)	0.60	0.80	1.00	1.30	1.60
Dividend payout ratio (%)	28.8	29.8	29.8	31.0	30.8

Key ratios

Percent unless stated

Ratio
Ratio	FY2021	FY2022	FY2023	FY2024	FY2025
Return on average shareholders' equity (%)	7.6	8.6	9.5	10.3	11.0
Cost-to-income ratio (%)	53.6	51.2	49.3	47.3	45.5
Credit cost, on average net loans (%)	1.41	1.38	1.49	1.43	1.37
Non-performing loan ratio (%)	2.4	2.3	2.1	2.0	1.9
Growth in net loans (%)	17.9	18.0	16.9	16.6	17.2
Borrowings to total equity (times)	1.11	1.17	1.23	1.25	1.25

Figures are shown on a combined basis for the group's subsidiaries. Net operating income is interest, fee and other income, net of interest expense. Return on equity and credit cost use the average of opening and closing balances. This summary should be read with the audited financial statements in the annual report.