VNStockNews.com - Thang Long Securities Co has an outstanding debt of VND1.43 trillion (US$68.1 million) with Military Bank, VND253 billion ($12 million) of which is overdue, said Military Bank vice chairman Le Van Be.
The bank has been forced to make a provisionary fund to cover this debt, pushing its net profit from over VND2.16 trillion ($102.9 million) to just VND1.09 trillion ($51.8 million), Be said. Military Bank would be willing to offer a "rescue package" to help Thang Long Securities stabilise their activity, he added, estimating that Thang Long Co's debt could be reduced to VND1 trillion ($47.6 million) by year's end.
