Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) has explained the fluctuation in profit after tax of Quarter 2.2012 compared to Quarter 2.2011:
-
Sacombank’s
profit after tax in Quarter 2.2012 was VND540 billion, decreasing VND145
billion (or 21.13%) compared to Quarter 2.2011 thanks to reasons as follows:
+
Net
revenue in Quarter 2.2012 rose VND105 billion compared to the same period of
last year because deposit interest decreased VND127 billion due to the balances
deposits in other credit institutions decreased VND9,204 billion, loan interest
decreased VND23 billion and debt securities decreased VND2,690 billion.
+
Income
from services increased VND36 billion mainly income from payment services increased
and brokerage commission expenses decreased.
+
Income
from Forex trading increased VND19 billion.
+
Income
from securities increased VND90 billion because in Quarter 2.2012 bank return
the provision and buying and selling securities.
+
Operating
expense increased VND269 billion because Sacombank has expanded its operating
scale and the consumer price went up and wage
costs increased VND131 billion.
+
Provision
for credit increased VND285 billion because Sacombank made a provision credit of VND135
billion and reserve for bad debts of VND194 billion.
+
Income
from contributed capital went up VND50 billion, other income increased VND26
billion and Corporation income tax decreased VND83billion.
