This is considered a perfect step ahead of the company's stock trading on the UpCOM floor.
At the end of the first half of 2025, F88 recorded total revenue of VND 1,744 billion, an increase of 30% compared to the previous year. Of which, the mortgage lending segment brought in VND 1,521 billion, up 28%, revenue from insurance business and other sources reached VND 199.6 billion and VND 6 billion, up 45% and 360% over the same period thanks to expanded product coverage and effective cross-selling rates.
The revenue growth is largely due to the company's efforts to promote disbursement, increase the scale of outstanding loans, combined with maintaining discipline and effective risk management. Specifically, the disbursement value in the second quarter of 2025 reached VND 3,862 billion, an increase of 47.4% over the same period in 2024. This is the company's highest disbursement increase in the past 3 years. The total outstanding principal as of June 30, 2025 reached VND 5,543 billion, an increase of 45.1%. Of which, approximately 80% of this total outstanding loan was generated by F88's direct business activities. The remainder was generated through cooperation between F88 and third parties. Although the proportion of outstanding loans from third-party cooperation is still low, it has increased by 50% over the same period, showing great growth potential from strategic handshakes with major partners.
Contributing to the above "breakthrough" growth are also efforts to expand the network and attract customers. In the past six months, the company has opened 20 more points of sale, bringing the total number of stores to 888. In the second quarter, customer growth also recorded many positive results such as the new customer index and the number of new loan contracts increased by 19.5% and 76.2% respectively compared to the same period last year while the rate of returning customers out of the total customers reached 50%.
In particular, the My F88 mobile application has supported the shift of the number of loan contracts from "offline" to "online" with a rate of 5% in the first quarter of 2025 to 23% in the second quarter of 2025. This growth shows the trend of customers prioritizing payment transactions, re-borrowing, contract renewal... on the online platform. The stable operation of My F88 - the first and only mobile application in Vietnam for customers who do not meet the criteria for loans from credit institutions - not only helps the company improve the customer experience but also promotes a new sales channel for returning customers on a potential online platform.
Another bright spot in F88's recent operations is good risk control. In the second quarter, the ratio of off-balance sheet debt (Net Write-off) to total average debt was recorded at 2.35%, down 0.62% over the same period. The lower this ratio is, the lower F88's bad debt level is and the quality of the loan portfolio and risk control ability are increasingly improved. This is more clearly reflected in the debt group slippage rate being maintained at a low level, reaching 2.6%, down 0.67% over the same period. At the same time, the on-time payment rate of customers has increased by 2.09% over the same period, reaching 85.64%.
All of the above breakthroughs have brought in VND 189 billion in pre-tax profit in the second quarter of 2025, bringing the total pre-tax profit in the first half of the year to VND 321 billion, an increase of 213% compared to the first 6 months of 2024. "The results in the first two quarters of the year are a testament to the controlled growth strategy that our company is pursuing. With the foundation being gradually consolidated, from technology, products to operations, F88 is confident in entering the next stage of development: Listing shares on UPCOM", Mr. Phung Anh Tuan - Chairman of the Board of Directors of F88 - shared.
In the second quarter of 2025, F88 also received many awards from prestigious international organizations such as the trio of awards presented by Asian Banking and Finance magazine (Singapore), including: Mobile App of the Year - Vietnam 2025 for the My F88 application; Sustainability Initiative of the Year - Vietnam 2025 and External Social Initiative of the Year - Vietnam 2025 for the program supporting disadvantaged women to start a business called Green Dream. In particular, F88 also received the Gold Certificate for Customer Protection from the international organization M-CRIL. The above recognitions are also how F88 concretizes its sustainable development commitments.
F88 is a pioneering chain of affordable financial stores in Vietnam, providing a variety of services such as mortgage loans, bill payments, insurance distribution and money transfers. With nearly 900 stores nationwide, F88 focuses on serving customers who are manual workers, freelancers and those who do not have access to traditional banking services, affirming its leading position in the alternative financial market segment.
Source: https://nld.com.vn/f88-ghi-nhan-ket-qua-kinh-doanh-vuot-troi-truoc-them-upcom-196250730164229649.htm
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