F88 8-Month Profit Hits 1,077B VND, Targets 1,000+ Stores by 2026

Overview

F88 Investment Joint Stock Company (F88) announced an estimated pre-tax profit of 1,077 billion VND for the first eight months of 2026, nearly achieving its full-year target of 1,133 billion VND. The company also plans to accelerate store expansion, exceeding 1,000 stores by 2026, up from its current network of over 980 transaction offices across 34 provinces. This performance underscores F88’s strong growth in the alternative finance segment.

Key Facts

• Pre-tax profit for 8M 2026: 1,077 billion VND, close to the full-year target of 1,133 billion VND.
• F88 expects full-year 2026 pre-tax profit to reach 1,500 billion VND, up 65% from 2025 and 32% above the shareholder-approved plan.
• Outstanding loan balance: approximately 9,400 billion VND as of August 2026.
• Store count: over 980 transaction offices across 34 provinces; plans to exceed 1,000 stores in September 2026 and reach 1,050 by end-2026.
• Long-term target: 1,500–2,000 locations by 2030, serving 5 million customers (up from 1.6 million), with absolute profit five times the 2025 level.
• H1 2026 audited financials (by KPMG): total revenue 2,758 billion VND (+51% YoY), pre-tax profit 686 billion VND (+140.5% YoY), achieving 61% of the annual plan.
• 99% of transaction offices older than 12 months are profitable; many new stores break even within 9 months.

What Happened

In a recent interview, F88’s Chief Financial Officer, Bà Trần Mai Thảo, disclosed that the company’s estimated pre-tax profit for the first eight months reached 1,077 billion VND, nearly completing the full-year target of 1,133 billion VND. The outstanding loan balance stood at approximately 9,400 billion VND. F88 expects strong growth in the second half, aiming for pre-tax profit of 1,500 billion VND, a 65% increase from 2025 and 32% above the plan approved by shareholders.

The company is accelerating its expansion, with plans to exceed 1,000 stores in September 2026 and reach 1,050 by 2026, surpassing its original commitment to shareholders. This expansion is supported by optimized operations, as 99% of stores older than 12 months are profitable, and the time to break-even for new stores has shortened to around 9 months. F88’s growth is attributed to strong demand in its target segment—individuals and micro-business households—and a favorable policy environment.

Market Context

F88, listed on UPCOM, closed at 60,000 VND on August 24, 2026. The company operates in the financial services sector, focusing on secured consumer lending and alternative finance. The broader Vietnamese market has seen increasing demand for consumer credit, and F88’s expansion aligns with this trend. The company’s strong earnings beat and aggressive store growth signal confidence in the sector’s outlook, despite potential regulatory and competitive pressures.

Strategic Significance

F88’s strategy centers on capturing the underserved micro-lending segment through a hybrid model combining physical branches with digital channels. The company’s ability to achieve profitability quickly at new stores and its high percentage of profitable branches indicate a scalable business model. The planned expansion to 1,050 stores by 2026 and 1,500–2,000 by 2030 positions F88 to solidify its market leadership. The company’s focus on lower-cost capital products and partnerships with banks enhances its competitive edge, potentially driving sustainable long-term growth.

What to Watch

• Monthly store count updates to confirm the 1,000-store milestone in September 2026 and the 1,050 target by year-end.
• Q3 2026 financial results, expected in October, to see if pre-tax profit momentum continues toward the 1,500 billion VND goal.
• Regulatory changes affecting consumer lending and alternative finance in Vietnam.
• Customer acquisition metrics, including new borrowers and app downloads, to gauge demand sustainability.
• Any updates on the 2030 expansion plan and progress toward the 5 million customer target.