Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) has explained the fluctuation in profit after tax of Quarter 4.2012 compared to Quarter 4.2011:
Sacombank’s
profit after tax of parent company in Quarter 4.2012 was –VND855 billion,
decreasing VND1,295 billion (or -294.6%) compared to Quarter 4.2011 thanks to
reasons as follows:
-
Sacombank
made a provision for devaluation of stocks, bad debts, credit..
-
Net
revenue in Quarter 4.2012 rose VND198 billion compared to the same period of 2011
because loans in Quarter 4/2012 was higher of
VND19,000 billion dongs compared to in Quarter 4/2011. While balances deposits in
Quarter 4/2012 increased VND12,000 billion compared to in Quarter 4/201.
-
Income
from Forex trading decreased VND177 billion dongs because of the fluctuation in
gold price.
-
Income
from services decreased VND105 billion.
-
Other
income decreased VND151 billion
-
Loss
from securities trading activities increased VND126.5 billion because provision
for devaluation of stocks in Quarter 4/2012 was VND360 billion compare to
VND177 billion in Quarter 4/2011.
-
Provision
for credit in Quarter 4/2012 was VND385.5 billion, increasing VND432.5 billion
compared to Quarter 4/2011.
-
Provision
for receivables in Quarter 4/2012 was VND472
billion, increasing VND426,5 billion compared to Quarter 4/2011.
-
Expenses
in Quarter 4/2012 increased VND164.5 billion compared to Quarter 4/2011.
-
Income
tax in Quarter 4/2012 was VND63 billion, increasing VND90 billion compared to
in Quarter 4/2011.
