According to the audited financial report for 2025 from F88 Investment Joint Stock Company, the system recorded 468,975 motorbikes and 34,710 automobiles pawned by customers. These figures represent increases of 2.1 and 2.4 times, respectively, compared to the end of 2024.

F88's lending operations primarily involve vehicle-backed pawn loans, using motorbikes and automobiles as collateral. When a vehicle pawn loan is issued, customers sign a handover document for the original vehicle registration. Should a customer default on payments, the pawn chain can repossess the vehicle to settle the outstanding debt.

Pawn loans for vehicle registrations typically have terms ranging from one to 36 months. The maximum loan value is 2 billion VND, with disbursement taking approximately 30 minutes. F88 directly appraises the vehicle's condition at its transaction offices by evaluating the brand, model, condition, and manufacturing year. These factors are then compared against market prices stored in their centralized valuation system.

Beyond its 949 transaction offices, F88 has also extended its vehicle pawn loan service through the VNPost network. This strategic partnership aims to broaden service access for everyday customers, particularly in remote and rural areas. Starting april 2025, nearly 2,000 VNPost post offices began offering this service, with plans to expand to over 8,000 post offices in subsequent years.

The sharp increase in pawned vehicles reflects F88's robust business growth. In 2025, consolidated after-tax profit exceeded 719 billion VND, more than double the previous year's figure.

Management attributed these results to the expansion of lending operations. Revenue from pawn lending exceeded 3,491 billion VND, a 39% increase. Net outstanding loans reached 7,216 billion VND, and total loan disbursements amounted to 16,476 billion VND, representing increases of 57% and 37% respectively compared to the previous year.

Concurrently, revenue from insurance agency services reached 483 billion VND, up 52%. This growth was driven by a total of over 1.5 million contracts, nearly 35% higher than the previous year. The company also implemented various risk management and cost control measures.

Outside an F88 transaction office in Ha Noi. Photo: F88.

Despite this, F88 increased its salary and bonus expenses for employees last year. This amount rose by nearly 29% to approximately 1,277 billion VND. By the end of 2025, the company employed 4,681 staff. Consequently, the average monthly income for F88 employees reached about 22.7 million VND, an increase of nearly 11%.

F88's average salary is currently higher than that of some banks, including VietBank, SaigonBank, and BacABank. This figure is only one to two million VND lower than the average income of employees at NamABank, VietABank, or BVBank.

Established in 2013, F88 is one of Vietnam's fastest-growing personal financial service providers, with a widespread branch network spanning urban and rural areas. Since 2017, Mekong Capital has invested in F88, becoming a strategic partner and contributing to the company's strong growth.

F88 shares were listed on UPCoM in august 2025. The stock closed at 131,800 VND per unit on 14/4, approximately 40% higher than at the start of this year. The company plans to transfer its shares to the HoSE exchange.

By Tat Dat