VIETNAM – F88 Investment Joint Stock Company (F88) has just announced its highest-ever consolidated after-tax profit, along with several key financial indicators that highlight the company’s rapid and sustainable recovery, following a challenging year.
F88, which owns 99.99 per cent of F88 Business Joint Stock Company – a leading player in Viet Nam’s alternative finance sector.
This sector, which includes non-traditional lending activities, now accounts for 88.1 per cent of F88’s total revenue.
Additionally, F88 holds controlling stakes in the Green House Insurance Joint Stock Company and the Ffintech Joint Stock Company.
In its latest report to investors, F88 revealed that its after-tax profit for the fourth quarter reached VND163 billion, bringing the total after-tax profit for 2024 to VND351 billion.
This impressive profit growth is attributed to a surge in net revenue and the ongoing success of F88’s cost optimisation strategy.
Total revenue for 2024 stood at VND3.347 trillion, up by over 23.2 per cent compared to 2023.
The majority of this revenue – 88.1 per cent – came from asset-backed lending, primarily through motorbike and car registration-backed loans. The insurance business contributed 11.8 per cent to the overall revenue.
