STB: Explanation for business results for 6 months of 2012 before & after review

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has explained for business results for the first six months of 2012 before & after review as follows:

1.     After review, retained earnings decreased VND122 billion because:

Sacombank set aside additional provisions as follows:

-        Sacombank set aside additional provisions investments in held-to-maturity securities (bonds were issued by sacombank) of VND118 billion leading to retained earnings decreased VND118 billion.

-        Sacombank set aside additional provisions for interest expenses of VND4 billion and creased other debt of VND4 billion.

2.     After review, total assets decreased VND118 billion because Sacombank set aside additional provisions investments in held-to-maturity securities (bonds were issued by sacombank) of VND118 billion.

HOSE

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