- F88 reports $1.2M profit in Q1 2024 after a challenging 2023.
- Strategic shifts and Vietnam’s economic recovery fuel growth.
- The company plans expansion and refinement for future success.
Navigating choppy waters
Vietnamese financial firm F88 has successfully turned its fortunes around, reporting a net profit of US$1.2 million in the first quarter of 2024.
This comes after a challenging 2023, which saw the company post a net loss of US$20.7 million. F88’s growth mirrors Vietnam’s broader economic recovery, evidenced by the country’s 5.66% year-on-year GDP growth.
The company’s success can be attributed to strategic shifts implemented in late 2023, including a focus on higher-quality loans, stricter risk controls, and improved loan collection methods.
Setting sail for success
Looking ahead, F88 plans to expand partnerships, refine its products, and further improve performance.
The company’s resilience and adaptability have positioned it well to navigate the evolving financial landscape in Vietnam and beyond.
To read the original article: https://www.techinasia.com/vietnams-f88-bounces-12m-profit-q1-2024
