Pawnshop Chain F88 Profits 89 Billion VND in First Half of 2024, Bouncing Back After a Tough Year

Specifically, F88 recorded a post-tax profit of over VND 89 billion in the first half of 2024, a significant recovery from a loss of over VND 368 billion in the same period last year. The ROE for this period stood at 6%.

Source: HNX

Equity capital decreased slightly by 4% to over VND 1,500 billion during this period. The debt-to-equity ratio increased from 1.44 times to 1.96 times, equivalent to a total debt of VND 3,000 billion. The bond debt-to-equity ratio also rose from 0.14 to 0.39.

In reality, this does not represent F88’s entire bond debt. In the first six months, F88 issued three bond batches, raising a total of VND 150 billion. But in August alone, the famous pawnshop chain issued an additional two bond batches worth VND 150 billion.

Since the beginning of 2024, the F88 pawnshop chain has issued five bond batches, raising a total of VND 300 billion. Together with the two batches issued previously, F88 currently has seven bond batches (including the aforementioned two new batches) in circulation, totaling VND 550 billion. These are all “triple-non” bonds: non-convertible, without warrants, and unsecured. The applied interest rates range from 11% to 11.5% per annum.

Chau An

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