F88’s Q3 profit doubles, fulfilling 90% of 2025 target

F88’s Q3 profit doubles, fulfilling 90% of 2025 target

For the first nine months, F88 earned VNĐ603 billion in pre-tax profit, 2.5 times higher year-on-year, completing 90 per cent of its annual plan.

Transactions at F88. As of September 30, the company’s outstanding loans totaled VNĐ6.41 trillion, up 40 per cent from the beginning of the year. Photo courtesy of F88

F88 Investment Joint Stock Company reported robust third-quarter results for 2025, with pre-tax profit surging to VNĐ282 billion (US$10.7 million), twice as high as the same period last year.

Over the first nine months, F88 earned VNĐ603 billion in pre-tax profit, 2.5 times higher year-on-year, completing 90 per cent of its annual plan.

As of September 30, the company’s outstanding loans totalled VNĐ6.41 trillion, up 40 per cent from the start of the year. Loan disbursement in the third quarter reached VNĐ4.34 trillion, a 33 per cent increase year-on-year and the highest quarterly result in three years. Total disbursement for the first nine months rose 35 per cent to VNĐ11.48 trillion.

Total revenue in the third quarter hit nearly VNĐ1.08 trillion, up 49 per cent from a year earlier. Lending activities contributed VNĐ925 billion, accounting for 86 per cent of total revenue, while insurance brought in VNĐ134 billion, or 12.5 per cent. The company maintained solid operational efficiency, with an on-time payment rate of 85 per cent, a net write-off ratio of 2.4 per cent a month, and a cost-to-income ratio of 49 per cent, down from 52.7 per cent.

F88 said its performance was driven by an expanding customer base and a rising number of repeat borrowers. The company recorded nearly 70,700 new borrowers and over 246,000 new contracts, increases of 16 and 82 per cent, respectively. Repeat customers rose to 68 per cent in the third quarter from 58 per cent in the first.

In the third quarter, F88 launched a Revolving Credit Line, allowing customers to access pre-approved limits and pay interest only on the amount used, designed for small and recurring financial needs.

The company continued expanding through three key channels: its branch network, partnerships and digital platforms. F88 now operates 896 branches nationwide, surpassing its 2025 target. It also strengthened partnerships with CIMB Vietnam, MB Bank, Mobile World Group (MWG) and ZaloPay, while its My F88 app supports online lending and customer engagement.

F88 Chairman and CEO Phùng Anh Tuấn said the company will continue investing in technology to expand financial access for underbanked groups.

Credit rating agency FinnRatings recently upgraded F88 to BBB (Stable), reflecting improved funding, liquidity and strong performance in Vietnam’s alternative lending market. 

Bizhub