Core business decline, EVNFinance (EVF) still reports a surge in profit in Q2, how?

EVNFinance (EVF) recently announced its Q2/2025 financial report, showing a 105% increase in after-tax profit compared to the same period, reaching nearly 242 billion VND. While total net interest income remained nearly unchanged, many other activities saw significant growth. Net profit from investment securities soared to 160 billion VND, up from a loss of 36 billion VND last year, and income from capital contributions tripled to 17.5 billion VND. Operating costs were significantly reduced, and provisions for credit risk were cut, boosting pre-tax profit to 292.6 billion VND. However, EVNFinance also reported a significant decline in credit quality, with bad debt rising, especially in group 5 debts increasing more than threefold. The Da Nang branch was found to have issues with monitoring loan use.