According to consolidated data recently announced by F88 Investment JSC, in the net revenue structure, revenue from mortgage lending activities always accounts for the largest proportion, over 85% of revenue in the period 2023-2024.

Next is revenue from insurance agents, while revenue from other services accounts for an insignificant proportion.

Specifically, in 2024, F88's net revenue will reach VND 2,280.5 billion, an increase of 9.6% compared to 2023. Of which, net revenue from mortgage lending activities will reach VND 1,958.6 billion, an increase of 9.5%; net revenue from insurance agency activities will reach VND 318.4 billion, an increase of 11.8% compared to 2023.

The company's revenue achieved significant growth mainly due to the recovery of mortgage lending activities and optimization of operating performance of existing transaction offices, focusing on increasing the number of new customers and the rate of old customers returning to use the service.

loan f88.jpg
F88 affordable finance chain. Photo: D.Anh

Provisions for bad loans will decrease from VND1,549 billion in 2023 to VND918.8 billion in 2024, equivalent to a decrease of about 30.7%.

According to F88's business policy, bad debt includes loans overdue for more than 90 days and potentially irrecoverable debts that are 100% provisioned and monitored off-balance sheet for further collection after being written off.

As of December 31, 2024, F88 is holding 170,960 motorbikes and 13,149 cars as collateral. Accumulated to the end of 2024, there were 2.148 million mortgages at F88, including 1.682 million motorbikes and 159,000 cars.

The loans disbursed by the company are mainly in the small and medium segment, averaging about 12 million VND for motorbike mortgages and about 150 million VND for cars.

In 2024, F88's pre-tax accounting profit reached VND449 billion, an increase compared to a loss of VND672 billion in 2023. As a result, F88 recorded a net profit of more than VND351 billion in 2024, a strong growth compared to a loss of VND545 billion the previous year.

In 2025, F88 targets net revenue of VND 2,872 billion, an increase of 25.9% compared to 2024; profit after tax of VND 538 billion, an increase of 53.3% compared to 2024.

In the entire F88 system, by the end of 2024, the total number of employees will be 4,030, of which the number of employees at transaction offices accounts for 61%. The average income is approximately 19 million VND/person/month. This year, F88 will continue to expand by 20 more transaction offices, bringing the total number of transaction offices by the end of the year to 888.

Established in 2013, F88 is a chain of affordable financial stores, focusing on providing comprehensive financial services including loans, distribution of insurance products and banking services.

Four member units of F88 include: F88 Business JSC (pawn service), Ffintech JSC (technology), F88 Trading LLC (sim card) and Green House Technology JSC (insurance agency).

From 2016-2023, funds that have invested in F88 include Mekong Capital, Granite Oak and most recently Vietnam Oman Fund (a joint venture investment fund between two organizations under the governments of Oman and Vietnam, the Sultanate of Oman Investment Commission and the State Capital Investment Corporation).

In 2023, F88 attracted attention when several transaction offices had interdisciplinary units come to inspect compliance with regulations on conditional business lines and security and order.

Recently, the State Securities Commission has issued an official dispatch confirming that F88 Investment Joint Stock Company (F88) has met the conditions of being a public company under the provisions of the Securities Law. Therefore, F88 shares will be registered for trading on the UpCOM exchange in the near future.

Source: https://vietnamnet.vn/mot-dn-nhan-cam-co-1-8-trieu-xe-may-va-o-to-gia-binh-quan-150-trieu-dong-o-to-2400220.html