VCB: Explanation for the fluctuation of Q2.2020 business results

Joint Stock Commercial Bank for Foreign Trade of Viet Nam has explained the fluctuation in the consolidated financial statements in Quarter 2 of 2020 as follows:

1)      Separate financial statements:

The profit after tax in Quarter II of 2020 increased by 221 billion dongs (+5.20%) compared to Quarter II of 2019 mainly because the profit before tax in Quarter II of 2002 increased by 295 billion dongs (+5.57%) compared to Quarter II of 2019. 

The accumulated profit after tax until the end of Quarter II of 2020 decreased by 284 billion dongs (-3.21%) mainly because the accumulated profit before tax until the end of Quarter II of 2020 went down 337 billion dongs (-3.06%) compared to Quarter II of 2019. 

2)      Consolidated financial statements:

The profit after tax in Quarter II of 2020 increased by 250 billion dongs (+5.74%) compared to Quarter II of 2019 mainly because the profit before tax in Quarter II of 2002 increased by 334 billion dongs (+6.15%) compared to Quarter II of 2019. 

The accumulated profit after tax until the end of Quarter II of 2020 decreased by 278 billion dongs (-3.06%) mainly because the accumulated profit before tax until the end of Quarter II of 2020 went down about 322 billion dongs (-2.85%) compared to Quarter II of 2019. 

HOSE

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