HBB: Business operational explanation

According to the Financial Statement Quarter III/2011, profit after tax of Quarter III/2011 changed over 10% year on year. Hanoi Building Commercial Joint Stock Bank (HNX: HBB) explained the decrease in operating result in Quarter III/2011 as follows:

- Other revenue in QIII.2011 was VND33,914,000, decreasing compared to QIII.2010 as in QIII.2010, the Company called in some loans that had been written off

- Operating expenses increased because:

o HBB widened the operation network, which led to higher expenses in house rent and maintenance. Besides, due to inflation, the price of house rent increased itself (about 40%)

o Increase in cost for PR

o Number of employess increased by 450 people. The salary policy has also been changed to get high-quality employees.

HNX

>   HPR: Board resolution (16/11/2011)

>   TLT: Extraordinary General Meeting of Shareholders 2011 results (17/11/2011)

>   ACL: Explanation for business result in QIII/2011 (15/11/2011)

>   PNC: Explanation for business result in QIII/2011 (15/11/2011)

>   REE: Explanation for business result in QIII/2011 (15/11/2011)

>   VFMVFA: NAV from 03 Nov 2011 to 10 Nov 2011 (15/11/2011)

>   VFMVF4: NAV from 03 Nov 2011 to 10 Nov 2011 (15/11/2011)

>   VFMVF1: NAV from 03 Nov 2011 to 11 Nov 2011 (15/11/2011)

>   MAFPF1: NAV from 03 Nov 2011 to 10 Nov 2011 (15/11/2011)

>   SFC: Explanation for business result in Q3/2011 (16/11/2011)