F88’s first quarter profit increased sharply

In the newly released consolidated financial report, F88 said its first quarter revenue reached 1,310 billion VND, an increase of nearly 60% over the same period. The main driving force continues to come from lending activities, contributing 87% of total revenue. Disbursement value increased by 58.6%, bringing net outstanding debt to VND 7,897 billion, 62.3% higher than the same period last year.

Profit margins improve clearly when operating costs are better controlled. The CIR index decreased from 56.2% to 45.3%, reflecting the efficiency of the digitalization process and system optimization. Meanwhile, capital costs remained at 14.1%, somewhat reducing pressure from rising interest rates in the first quarter.

In the business’s first quarter business results meeting with investors on the afternoon of April 24, the board of directors assessed that the macro environment maintained a positive growth momentum with first quarter GDP increasing by 7.8%. However, financial pressure increased when deposit interest rates increased to nearly 8% at the end of March, while the USD/VND exchange rate was around 26,400 VND, causing risk prevention costs to increase by 4-5%.

In 2026, the company targets consolidated pre-tax profit of about VND 1,133 billion, an increase of 25% compared to the previous year and the highest level ever. Previously, in 2025, the business reached 907 billion VND in pre-tax profit, increasing more than once over the same period and exceeding 35% of the plan.

In parallel with the business results, the enterprise approved a plan to increase charter capital by VND 1,365 billion, with components including issuing shares to existing shareholders at a 1:1 ratio, offering to the public more than 22 million shares and issuing more than 4.4 million ESOP shares. If completed, charter capital will increase from more than 1,101 billion VND to about 2,467 billion VND, creating space to expand lending activities and technology investment.

The implementation roadmap is expected to complete the stock split in June, with the first trading day of new shares around August. The enterprise also aims to list on the Ho Chi Minh City Stock Exchange in the second half of 2026, after being approved by the State Securities Commission, thereby moving to a playing field with higher standards of transparency and governance.