2005 - Asianbanks.net

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(Unit : Million Baht) The Bank Only 31 December 2005 31 December 2004 Less than Over Less than Over 1 year 1 year Total 1 year 1 year Total Forward and spot contracts - Bought 5,794 66 5,860 8,575 - 8,575 - Sold 28,342 368 28,710 21,314 - 21,314 Cross currency and interest rate swap contracts - Bought 1,446 - 1,446 - - - - Sold 1,456 1,602 3,058 - 1,197 1,197 Interest rate swap contracts - Fixed rate payer - 5,728 5,728 - - - - Floating rate payee - 5,728 5,728 - - - - Floating rate payer - 5,728 5,728 - - - - Fixed rate payee - 5,728 5,728 - - - The Bank sets up policies and relevant risk limits by which it requires risk reporting and control procedures for the various types of risk, as a control over financial derivative activities. The Bank realizes that financial derivatives involve credit risk and manages it by setting credit limits for its customers in general. The same credit approval process used when granting loans to a customer is adopted for financial derivative customers, so that the Bank is able to maintain risk at acceptable levels. However, financial derivatives may cause the Bank to incur gains or losses as they are sensitive to foreign exchange rates and interest rates, which can fluctuate materially as the market situation changes. 32. ADJUSTMENT AGAINST RETAINED EARNINGS During the current year, the Bank made adjustments totaling Baht 209 million against 2004 brought forward retained earnings as a result of differences noted for loan and receivable accounts, which related to the prior years before 2004. In addition, the Bank adjusted gains of Baht 9 million on disposal of treasury stocks in 2004 to share premium on treasury stocks in the financial statements. 33. SUBSEQUENT EVENT On 22 February 2006, the Bank’s Board of Directors passed a resolution approving the following appropriation of the 2005 net earnings, which are to be recorded in the second quarter of 2006 :- 156
(a) (b) Set aside to a statutory reserve at least 5 percent of the 2005 net earnings after deducting deficit. Appropriation for the payment of a dividend of Baht 1.40 per share. On 24 August 2005, a meeting of the Bank’s Board of Directors passed a resolution approving the payment of an interim dividend of Baht 0.70 per share. 34. PRESENTATION The presentation of the financial statements has been made in compliance with the requirement of the Notification of the Bank of Thailand relating to the format of the financial statements of commercial banks dated 10 May 2001. Certain amounts in the financial statements, as presented herein for comparative purposes, have been reclassified to conform to the current year’s classification, with no effect on the net earnings or shareholders’ equity as previously reported by other auditors except for the adjustments as discussed in Note 32 to the financial statements. 35. APPROVAL OF INTERIM FINANCIAL STATEMENTS These financial statements were authorized for issue by the Bank’s Board of Directors on 22 February 2006. 157
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Contents Financial Highlights Messa
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Financial Highlights Operating Resu
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Dear Shareholders, In 2005, the wor
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Report of the Audit Committee The B
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Board of Directors Education • Ba
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Board of Directors Education • Ba
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Annual Report 2005 13
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Shareholders Board of Directors Aud
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Mr. Sutipong Ittipong Senior Execut
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Mrs. Jaree Wuthisanti Executive Vic
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Mr. Pravit Ongwatana Executive Vice
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Mr. Prachak Udomsilp Executive Vice
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Executive of the Departments Medium
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Operating Results Operating results
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Unit: Million Baht Business sectors
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As at 31 December 2005, investments
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Relationship between Sources and Us
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Relationship between Financial Cost
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Characteristics of Business Operati
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Reforestation Project on the Occasi
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Structure of Incomes (Consolidated)
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Place In addition to programs to mo
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Enhance capability of information t
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Structure of the Board of Directors
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2. Tenure 2.1 The term of the direc
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1) Knowledge and Ability (Average s
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11. Shall have the power to conside
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5. Others The Audit Committee shall
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7. Adjust and change organization s
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19. Mr. Rathian Srimongkol First Ex
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No. Name Directors Executive Audit
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The Bank resolved to formulate the
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Type of Activities Good Corporate G
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Type of Activities Good Corporate G
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No. Activity 9 Discussion workshop
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Conflict of Interests The Board of
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2. Ethical conduct toward customers
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meeting room to allow a free discus
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The Board of Directors’ Report Th
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Risk Management and Individual Risk
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Risk from Guarantees Bill of paymen
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General Information 1.1 Siam City B
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14. Siam Tire Cord Co., Ltd. 46/1 M
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The Board of Directorsû Responsibi
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Financial Statement BALANCE SHEETS
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BALANCE SHEETS (Continued) AS AT 31
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STATEMENTS OF EARNINGS (Continued)
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STATEMENTS OF CHANGES IN SHAREHOLDE
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STATEMENTS OF CASH FLOWS (Continued
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Significant intercompany balances a
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3.4 Investment in subsidiaries and
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3.11 Premises and equipment Buildin
Page 107 and 108: 4. TRANSFER OF BUSINESS FROM BANGKO
Page 109 and 110: (Unit : Million Baht) The Bank only
Page 111 and 112: (Unit : Million Baht) Consolidated
Page 117 and 118: 7.6 Investments in companies having
Page 119 and 120: 8. LOANS AND ACCRUED INTEREST RECEI
Page 121 and 122: 8.3 Classified by currency and resi
Page 125 and 126: 8.6 Non-performing loans As at 31 D
Page 129 and 130: 9. ALLOWANCE FOR DOUBTFUL DEBTS (Un
Page 131 and 132: 10. REVALUATION ALLOWANCE FOR DEBT
Page 135 and 136: 13. INTANGIBLE ASSETS (Unit : Milli
Page 137 and 138: 15.2 Classified by the remaining pe
Page 139 and 140: 17. SECURITIES SOLD UNDER REPURCHAS
Page 141 and 142: (Unit : Million Baht) The Bank Only
Page 151 and 152: Credit Review Department is respons
Page 153 and 154: The remaining periods from 31 Decem
Page 155 and 156: The Bank’s Liquidity Management C
Page 157: As at 31 December 2005, the differe
Page 161 and 162: OFFICE / BRANCH TELEPHONE FAX E-MAI
Page 173 and 174: Major Correspondent Banks EUROPE DE
Page 175 and 176: ASIA MALAYSIA KUALA LUMPUR RHB BANK
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2005 - Asianbanks.net

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