STB: Explanation for consolidated business result in Quarter 1.2013

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

-         Sacombank’s profit after tax in Quarter 1.2013 was VND675.7 billion, decreasing VND132 billion (or 16.36%) compared to Quarter 1.2012 thanks to reasons as follows:

+         Net revenue in Quarter 1.2013 rose VND280.3 billion compared to the same period of last year because deposit interest and loan interest decreased

+         Revenue from securities decreased VND44.1 billion.

+         Activities expense increased VND292 billion.

+         Provision for credit increased VND170.3 billion.

+         Revenue from Forex trading increased VND31billion.

+         Income tax decreased VND38.7 billion, other income decreased VND18.6billion.

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