OCB shareholders question about loans to FLC and Dai Nam

The situation of credits and transactions for customers who are FLC Group and Dai Nam Joint Stock Company; Real estate loan balance and growth potential from new products… are some of the outstanding issues that shareholders are particularly interested in in the 2022 Annual General Meeting of Shareholders of the Bank. Orient Commercial Joint Stock Company (OCB) took place today 23/4 in Ho Chi Minh City.

Answering questions from shareholders regarding FLC Group, OCB General Director Nguyen Dinh Tung said: “Risk management at OCB is very strict, FLC loans are secured by real estate assets. The property is over 2,000 billion VND. The land received by the bank is registered, not formed in the future. In addition to the outstanding loan to FLC, OCB also lends to Bamboo Airways, like Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank). ), currently OCB is also negotiating to collect the debt before the due date is expected to be 1,500 billion VND.

Mr. Tung said that FLC is a corporation with many impressive projects deployed in Quang Ninh, Quy Nhon, Binh Dinh and Thanh Hoa. OCB’s development orientation is to promote the development of the retail segment. In the past time, besides FLC, OCB also lends to other investors such as Khang Dien, Nam Long, Son Kim Land. OCB lending to FLC Group mainly focuses on 2 projects in Quang Ninh. When lending OCB based on each specific project, there is full legality, site clearance is completed before lending.

“Before Mr. Trinh Van Quyet happened, this was a good customer who always made sure to repay the loan on time. Currently, the parties are also coordinating with the Bank to handle this matter. View of the Bank’s Board of Directors That is, for projects that are underway, if there is a source of revenue, it will create conditions for them to sell and collect money”, emphasized the General Director of OCB.

As for Dai Nam Group’s loans, Mr. Tung said Dai Nam has paid OCB 450 billion dong, it is expected that with its revenue, Dai Nam will be able to pay debts to OCB and other banks. Moreover, Dai Nam’s debts are not worrisome, they all have red books.

Faced with concerns of shareholders about the events related to FLC and Dai Nam affecting the bank’s credit plan in the coming time, OCB affirmed that it will control real estate credit, expand retail lending, and expand retail lending capacity. The ability to control bad debt below 1% is feasible.

Explaining clearly about restricting real estate loans, Mr. Tung shared: “The policy of the State is to limit lending for real estate business, while meeting the housing needs of the people is still encouraged. Therefore, OCB also expands in this direction”.

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