Which banks are creditors of FLC?

Mar 30, 2022 07:10 GMT+7

At the end of fiscal year 2021, FLC’s cash and cash equivalents were VND 176 billion. In which, cash at the fund is only 11.47 billion dong, demand deposits at banks are 75.33 billion dong, and cash equivalents are 89.22 billion dong.

This figure is much lower than the same period last year because at the end of the period of 2020, FLC has a cash and cash equivalent volume of up to 1,215 billion VND.

Regarding interest expense, at the end of 2021, FLC’s total interest expense in the period is up to VND 111,341 billion. Besides, short-term payables are 4,439 billion VND and long-term payables are 3,942 billion VND.

Regarding short-term loans and finance lease debt, FLC is taking short-term loans of VND 1,368 billion from banks and financial institutions. National Commercial Joint Stock Bank (NCB) Hanoi branch is the largest creditor for short-term loans of FLC with two loans totaling 584 billion VND.

Orient Commercial Joint Stock Bank (OCB) Hanoi branch is the second largest creditor with outstanding loans of more than VND 573 billion.

Next, Agribank is the third largest creditor at FLC in terms of short-term loans with outstanding loans of VND 79,750 billion. Short-term debt at other banks is 131 billion dong.

Regarding long-term loans that are due to be paid, the payable amount as of December 31, 2021 is VND 506.66 billion. In which, two loans from BIDV are worth VND 404 billion and a loan from Agribank is VND 60 billion. Long-term loans to liabilities at other organizations are 43 billion dong.

In 2021, FLC borrowed from SHB bank, MBS Securities Company through the issuance of bonds of VND 668,541 billion. FLC’s debt from bond mobilization is 150 billion dong.

For loans and long-term finance lease debt of up to VND 3,296 billion, BIDV is the largest creditor with a loan of more than VND 1,343 billion; Agribank more than 29 billion dong. Sacombank Hanoi branch has a long-term loan of VND 1,840 billion and has only disbursed in 2021.

In addition, long-term loans at other banks are more than 84 billion VND. VietinBank Leasing Company (VietinBank Leasing) is also giving FLC a long-term loan of 4.8 billion VND.

FLC also borrows more than 868 billion dong from banks by the end of 2021 through bond issuance. In which, OCB alone spent more than 818 billion dong buying bonds issued by FLC, while NCB bank spent 50 billion dong.

Thus, the total debt as of December 31, 2021 of FLC is more than VND 6,200 billion, still lower than the charter capital of VND 7,000 billion of the group. In which, Sacombank is the largest creditor with outstanding debt of 1,840 billion VND; followed by BIDV 1,747 billion; OCB 1,392 billion dong; NCB 634 billion dong; Agribank 168 billion VND; MBS Securities VND 150 billion; the remaining banks are 273 billion dong.

FLC Group Joint Stock Company was established in 2009, registered for the 33rd change on March 19, 2020. As of December 31, 2021, the charter capital of FLC is VND 7,099 billion, the head office is located on the 29th floor, Bamboo Airways building, 265 Cau Giay, Dich Vong ward, Cau Giay district, Hanoi.

Ngan Giang