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F88 Investment Joint Stock Company (ticker: F88) reported first-quarter 2026 business results with pre-tax profit of 303.5 billion VND, up 2.3 times year-on-year. The company said the performance reflected scale expansion alongside continued risk controls.
As of March 31, 2026, F88’s outstanding customer loan principal reached 7,897 billion VND, up 9.4% compared with the beginning of the year. Total disbursements in Q1 2026 continued to set a record at 5,207 billion VND, up 58.6% year-on-year.
Revenue in the quarter rose to 1,310 billion VND, up nearly 60% year-on-year. Lending activities generated 1,129 billion VND, accounting for 86% of total revenue, while revenue from insurance agency services reached nearly 169 billion VND (13% of total revenue). Compared with Q1 2025, lending revenue increased 57% and insurance agency revenue rose 93%.
F88 continued to expand its customer base, opening more than 275,900 new loan contracts in Q1 2026, up by more than 75,900 customers. The share of returning customers—those using the service two or more times—rose to 68%, from 58% a year earlier.
The net write-off ratio on total average gross loans stood at 3.5% per quarter, higher than 3.1% at the end of Q4 2025. The company’s CIR (cost-to-income ratio) in Q1 fell to 45.3%, compared with 56.2% a year earlier.
Chairman of the Board Phung Anh Tuan said the results were driven by expanding scale while maintaining risk controls. He noted that F88’s business scale is supported by three pillars: a network of service points, partnerships with partners, and digital channels via the My F88 app. In the near term, the company plans to continue expanding partnerships, particularly with insurance companies, with the goal of raising the share of this business segment to 30%.
F88 currently operates 956 transaction points, the My F88 app, and strategic partnerships with MB Bank, CIMB Bank, Zalo, MoMo and VNPost. The company said these partnerships help diversify lending, payments and insurance offerings and broaden the customer base beyond traditional channels.
F88’s 2026 priorities are growth and standardization. The company plans to optimize its network, accelerate digitization, upgrade its decision-support system using big data, control bad debts, and integrate a risk management framework.
F88 is also gradually moving its listed shares to HOSE to adopt more transparent governance standards and improve shareholder benefits.
Under plans approved by the General Meeting of Shareholders, F88 intends to increase charter capital from 1,101 billion VND to nearly 2,500 billion VND. The plan includes issuing 110 million bonus shares on a 1:1 basis, offering 22 million public shares, and issuing 4.4 million ESOP shares to expand business scale in 2026.
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