STB: Explanation for business result in Quarter 1.2013

Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) has explained the fluctuation in profit after tax of parent company in Quarter 1.2013 compared to Quarter 1.2012:

-         Sacombank’s profit after tax in Quarter 1.2013 was VND644.2 billion, decreasing VND112.2billion (or 14.84%) compared to Quarter 1.2012 thanks to reasons as follows:

+         Net revenue in Quarter 1.2013 rose VND289billion compared to the same period of last year because deposit interest and loan interest decreased

+         Revenue from securities decreased VND45.4 billion.

+         Activities expense increased VND275.6 billion.

+         Provision for credit increased VND158 billion.

+         Income tax decreased VND39 billion, other income decreased VND17.9 billion.

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