F88 Investment Joint Stock Company recently announced these figures. The company's fourth quarter pre-tax profit alone reached 304 billion VND, a 47% increase compared to the same period.
This positive performance resulted from the company's significant expansion of secured lending, a sector benefiting from recovering consumer finance demand. By the end of the year, customer loan balances exceeded 7,200 billion VND, up 50% from the start of the year. Fourth quarter disbursements alone reached nearly 5,000 billion VND, marking the highest in the company's operating history.
The rapid increase in lending volume significantly improved F88's revenue. Fourth quarter revenue was approximately 1,200 billion VND, a more than 50% increase year-on-year, with lending operations remaining the primary driver. Auxiliary services, such as insurance, sustained their growth, diversifying revenue streams.
According to F88, growth in the final quarter also stemmed from an increase in new customers and a high rate of returning clients. By year-end, nearly 7 out of 10 contracts originated from existing customers, indicating stability in its loan portfolio.
Alongside its financial results, F88 expanded its network to 950 transaction offices. The company also strengthened partnerships with financial-technology entities, broadening customer access beyond its traditional system.
On the stock market, F88's shares saw strong gains in recent sessions before adjusting to around 241,000 dong per share. As a listed entity on UPCoM, the stock's daily fluctuation limit is 15%.
Currently, F88 has six major shareholders, each holding over 5% of its charter capital. Skydom Pte. Ltd, an entity linked to Mekong Capital, is the largest shareholder, holding approximately 30,55% of the capital.
Mekong Capital is considered a long-term investor in F88, having joined early and supported the company's system expansion. The fund first invested in F88 around 2015, when the pawn and financial services chain operated only dozens of stores. The initial investment value was not disclosed, but market sources estimate it to be in the tens of millions of USD.
By early 2023, Mekong Capital further invested approximately 20 million USD in F88 during a funding round. This investment aimed to support the company's network expansion and accelerate its digital transformation. Cumulatively, market estimates place Mekong Capital's total investment in F88 at tens of millions of USD.
Thi Ha
