Credit Bureau Asia delivered double digit revenue and profit growth in FY2023. Final dividend increases 18% compared to same period last year
Singapore, 26 February 2024:
Credit Bureau Asia Limited (“CBA”, “亚洲征信有限公司” and together with its subsidiaries, the “Group”), a leading player in the credit and risk solutions market in Southeast Asia, is pleased to announce for the full year ended 31 December 2023 (“FY2023”), revenue grew 11% to S$54.2 million and net profit before tax grew 17% to S$26.7 million. PATMI grew 17% to S$9.8 million.
Commenting on the results, Mr Kevin Koo, founder and Executive Chairman of CBA, remarked: “We delivered broad-based outstanding revenue and profit growth, and finished the year strongly. The Board is recommending a final dividend of 2.0 Singapore cents per ordinary share, an increase of 18% over the same period last year, bringing the total dividend payout for FY2023 to 3.7 Singapore cents per ordinary share.”
Our non-FI Data Business in Singapore and Malaysia continue to expand and increase market penetration through introducing new products and services to our customers. Profit before tax for our non-FI Data Business increased 17% in FY2023 to S$12.9 million. This is despite the World Trade Organization lowering its 2023 trade growth forecast amid a global manufacturing slowdown.
Download or read offline here.
-End-
About Credit Bureau Asia Limited (www.creditbureasia.com)
Formed in 2002, Credit Bureau (Singapore) Pte Ltd (CBS) is a joint venture between the Association of Banks in Singapore (ABS) and Infocredit Holdings Pte Ltd (Infocredit). Infocredit is a subsidiary of Credit Bureau Asia Limited and has another shareholder, Equifax.
CBS is Singapore’s most comprehensive consumer credit bureau bureau that has full-industry uploads from all retail banks and major financial institutions and a data repository of almost 4 million unique entities. CBS aggregates credit-related information amongst its 32 participating members and presents a more complete risk profile of a customer to credit providers, assisting them with the enhancement of their risk assessment capabilities. Credit Bureau (Singapore) Pte Ltd (CBS) is a subsidiary of Credit Bureau Asia Limited (CBA).