NVB: Explanation for change of over 10 percent in operating result Quarter II/2012
According to the Financial Statement Quarter II/2012, the profit after tax decreased by more than 10% year on year. The profit after tax in QII/2012 was VND43,799 million, with a decrease of 13.11% compared to QII/2011. Nam Viet Commercial Joint Stock Bank explained the decrease in operating result in Quarter II/2012 as follows:
- In the situation of high inflation and interest, the companies have trouble on payment of debt. Thus, Nam Viet Commercial Joint Stock Bank decreased the interest for bank loans. Increase of revenue of Navibank in QII/2012 was not corresponding to the scale. The profit after tax decreased compared to 2011.
HNX
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