VCB: Explanation for business result in Quarter II/2009

Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB: Vietcombank) explained reasons of the fluctuation in business result between Quarter II/2009 and I/2009:

Profit before tax in Quarter II/2009 of Vietcombank gained VND1,216,276,527,484 , decreasing by 12.77% compared to Quarter I/2009 because in Quarter II/2009, Vietcombank reserved VND250,728,000,000 for credit risk provision which was based on the results of debt classification in Quarter II/2009, whereas Vietcombank did not set up provision for credit risk in Quarter I/2009.            

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