Financial highlights.

Five years of group results, with an interactive chart and data tables you can download. All figures 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.

01At a glance

FY2025 results.

Sample data

Financial year ended 31 December 2025, compared with the previous year. Sparklines show FY2021 to FY2025.

Net operating income

36.2S$m

17.4% on FY2024

Profit to shareholders

13.0S$m

24.0% on FY2024

Net loans

268.9S$m

17.2% on FY2024

NAV per share

51.00cents

16.4% on FY2024

02Trends

Five years in motion.

Sample data

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

Net operating income

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

03Segments

Where profit comes from.

Sample data

Profit before tax by segment, FY2025. Business financing and investment includes GXL2 Holdings, Future Growth Consultant and JW Venture Capital.

Business financing and investment59%
Consumer lending41%

04Data

Financial statements summary.

Sample data

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

Income statement

S$'000, financial year ended 31 December

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	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	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	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. Read this summary with the audited financial statements in the annual report.