Monday, 24/02/2014 16:41

EIB: Explanation for profit of Quarter 4/2013

Vietnam Export Import Commercial Joint Stock Bank (Eximbank) explained fluctuations in business results of Quarter 4/2013:

-          Financial Statement in Quarter 4/2013 of parent company:

Unit

Quarter 4/2012

Quarter 4/2012

2013

2013

Rate (%)

Profit after tax

Million dongs

-222,990

311,842

651,648

2,117,290

-69.22

-          Consolidated Financial Statement in Quarter 4/2013:

Unit

Quarter 4/2012

Quarter 4/2012

2013

2013

Rate (%)

Profit after tax

Million dongs

-221,618

313,277

657,966

2,138,655

-69.23

Reason:

-          Eximbank decreased loan interest rates, leading net revenue decreased 42.3%.

-          Eximbank made a provision for credit losses: VND81 billion

-          Accounting losses from closing business gold in the first half of 2013: VND180 billion

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