F88 continues to break through in profit in the third quarter, reaching 90% of the 2025 plan

On October 20, F88 Investment Joint Stock Company announced impressive third quarter 2025 business results with pre-tax profit of VND 282 billion, double the same period last year.

Accumulated in the first 9 months of the year, F88 achieved a profit of 603 billion VND, 2.5 times higher than the same period.

As of September 30, 2025, the outstanding principal loan balance to customers at F88 reached VND 6,413 billion, a sharp increase of 40% compared to the beginning of the year. The disbursement amount in the third quarter of 2025 alone reached VND 4,339 billion, an increase of 33% compared to the third quarter of 2024, exceeding the figure in the second quarter of 2025. The third quarter of 2025 continued to record a record disbursement level of F88 in the past 3 years. The cumulative disbursement in the first 9 months of 2025 increased by 35% over the same period, reaching VND 11,485 billion.

Business expansion continues to bring breakthrough results for F88 in the third quarter of 2025. The company's total revenue in the third quarter reached nearly VND 1,075 billion, up 49% over the same period last year. Of which, revenue from lending activities was nearly VND 925 billion (accounting for 86%), insurance contributed VND 134 billion (accounting for 12.5%), growing 47% and 52% respectively compared to the third quarter of 2024.

In particular, F88 also focuses on risk management and loan quality, with the on-time payment rate at F88 maintained at around 85%. In addition, the net write-off rate in the period (Net Write-off) on the average total outstanding debt maintained at 2.4%/month. The company also controls operating expenses well with a cost-to-income ratio (CIR) of 49% (Q3-2024 is 52.7%).

With remarkable efforts from expanding business operations, managing quality and risk and controlling costs optimally, F88 brought in 282 billion VND in pre-tax profit in the third quarter of 2025, double the same period last year. Accumulated in the first 9 months of the year, the Company's pre-tax profit also doubled the same period, reaching 603 billion VND, equivalent to 90% of the yearly plan (673 billion VND).

The strong driving factor for F88's breakthrough growth in Q3-2025 is based on the increase and expansion of the customer base, especially the peak business cycle in the second half of the year. The number of new borrowers at the company reached nearly 70,700 and the number of new contracts opened was more than 246,700, up 16% and 82% respectively over the same period last year. The rate of returning customers (using the service two or more times) also increased sharply from 58% in Q1-2025 to 68% in Q3-2025. With the implementation of initiatives in developing product packages suitable for customers, the company has marked a breakthrough growth in the rate of returning customers.

In the third quarter of 2025, F88 launched the Revolving Limit Loan package, which is a form of pre-granting a loan amount (limit) to customers so that customers can proactively withdraw when needed (only calculating interest and fees on the actual amount that customers have withdrawn). The product helps meet the needs of customers who regularly need to borrow small, urgent amounts of money that arise repeatedly in daily life.

F88's business expansion strategy is promoted on channels including transaction office network, cooperation with partners and digital channels (online via My F88 application). These are the 3 main pillars that help resonate the power of technology combined with the network of physical transaction points. In particular, the number of transaction offices of the Company as of the third quarter of 2025 continued to increase to 896 nationwide (an increase of 28 transaction offices compared to the beginning of the year), exceeding the target for 2025 (888 transaction offices).

Regarding the expansion of its partners, F88 is currently working with CIMB Bank Vietnam, Military Commercial Joint Stock Bank (MB), Mobile World (MWG) and recently with ZaloPay. With its digital channel, F88 has developed the My F88 application to shift the number of contracts from "offline" to "online", increasing service flexibility as well as customer experience.

Evaluating the achievements in the first 9 months of the year, Mr. Phung Anh Tuan, Chairman and General Director of F88, said: "The company has focused on investing in technology, creating a solid foundation to further expand its business activities in the coming time. In particular, F88 has just launched a revolving credit loan product package, continuing its mission of increasing access to financial services for underbanked people and further promoting financial inclusion."

"The Company's expected profit in the fourth quarter of 2025 will be approximately the same as the results achieved in the third quarter of 2025 based on peak seasonality with good growth in consumer demand in the second half of the year, thereby helping F88 to exceed the plan approved at the 2025 Annual General Meeting of Shareholders," Mr. Tuan added.

Also today, credit rating company FinnRatings announced the upgrade of F88's credit rating to "BBB" with a "Stable" rating outlook. F88's previous rating was "BBB-" with a "Favorable" outlook.

FinnRatings said the new rating reflects a clear improvement in F88's capital and liquidity.

"We assess that F88's capital and liquidity have improved somewhat compared to the previous credit rating, thanks to the company's success in diversifying capital mobilization channels from domestic and foreign partners, preparing a plan to issue public bonds in 2026, and significantly reducing the average cost of capital mobilization."

In addition, FinnRatings emphasized that the credit rating also reflects F88's continued leadership in the alternative lending sector, along with good profitability and asset quality.

Source: https://nld.com.vn/f88-tiep-tuc-but-pha-ve-loi-nhuan-trong-quy-iii-dat-90-ke-hoach-nam-2025-1962510201154006.htm