Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) has explained consolidated business result in Q2.2012 as follows:
Profit after tax in Quarter 2/2012 was VND489 billion,
decreasing VND103.5 billion or 17.47% compared to Q2/2011 due to the following
reasons:
-
Business
result in Q2.2012 went down VND27.2 billion the following reasons:
+
Net
interest income in Quarter 2/2012 increased VND192 billion compared to Quarter
2/2011 mainly because interest expense decreased by VND311 billion since total
deposits and borrowings plunged by VND2.857 trillion. Meanwhile, its interest
income declined by VND119 billion due to an on year fall of VND1.178 trillion
in deposits at other credit institutions, lending to customers and investments
in debt securities.
+
Revenue
from service rose VND18 billion because expansion of operation network,
consumer prices rose impact to activity expense and salary to employees was
higher than Quarter 2/2011.
+
Revenue
from foreign exchange trading rose VND47 billion.
+
Revenue
from securities rose VND203 billion thanks to provision recovery and securities
trading activities.
+
Operating
expense interest VND238 billion.
+
Provision
for loan loss increased VND295 billion.
+
Besides,
revenue from capital contribution decreased VND8
billion, other income went down VND35 billion and income tax fell VND89
billion.
+
There were no minority interests in the second quarter of 2012.
