Mr. Trinh Van Quyet, chairman of FLC Group, has recently been on the “top of the storm” when he was arrested and investigated. Every move from the group is the focus of attention for those interested in the domestic financial situation, especially the debts that this bank is borrowing.
According to the financial report of the fourth quarter of 2021, FLC Group has VND 24,065 billion of liabilities as of December 31, 2021, accounting for 71% of total capital. Particularly, the ratio of debt to finance lease has also accounted for a large proportion. Recently, OCB continued to urge FLC to repay the loan early. The bank representative said that they are working to collect the debt before the due date.
OCB is considered the largest creditor of FLC at the end of 2021 when lending more than VND 537 billion and VND 83 billion through corporate bond issuance. According to Mr. Nguyen Dinh Tung – General Director of Orient Commercial Joint Stock Bank, the bank is lending FLC about 1,500 billion VND, focusing on two projects in Quang Ninh, and at the same time lending about 1 trillion VND to Bamboo Airways.
According to the bank’s leaders, the arrest of Mr. Trinh Van Quyet is a big risk for banking partners, so OCB has increased cash flow control, ensuring a source of debt collection for the bank. OCB’s leaders assessed: “For the bank, we consider this a very important matter,” he explained for the need for early debt collection.”
Meanwhile, the bank also lent money to Phuong Hang’s Dai Nam company, but the attitude was completely different, even assessing Dai Nam could be “excessive to repay” for all the loans. at all banks.
Mr. Nguyen Dinh Tung – General Director of Oriental Bank said that the total outstanding loan of Dai Nam company is more than 1,000 billion VND. Mr Tung said: “Many people think Dai Nam is a real estate business, but actually they operate in many fields, including industrial park services and glove manufacturing.”
Phuong Hang, General Director of OCB assessed Dai Nam Company’s side “overwhelming to pay off debt” for all loans at this bank. Immediately after Ms. Nguyen Phuong Hang was arrested, OCB was paid a total amount of 450 billion VND in debt on April 22. In the near future, Dai Nam will also collect 4,500 billion, so paying off the debt of this business is not difficult.