notes to the consolidated financial statements - Sacombank

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ANNUAL REPORT 2007 CONSOLIDATED FINANCIAL STATEMENT CORPORATE INFORMATION The Banking Licence No. 0006/NH-GP dated 5 December 1991. Board of Directors: The Banking Licence was issued by the State Bank of Vietnam (“the SBV”) for a period of 50 years from the date of the licence. Mr Dang Van Thanh Chairman Ms Huynh Que Ha First Vice Chairwoman Mr Nguyen Chau Vice Chairman Mr Dominic Scriven Member (appointed on 19 March 2007) Mr John Law Member Mr Tran Van Ngoc Member Ms Nguyen Thi Mai Thanh Member Mr Dang Hong Anh Member Mr Bui Thanh Hai Member (appointed on 19 March 2007) Mr Pham Duy Cuong Member (appointed on 19 March 2007) Board of Supervisors: Mr Nguyen Tan Thanh Chief Supervisor Mr Le Van Tong Supervisor Mr Doan Ba Tung Supervisor Board of Management: Mr Tran Xuan Huy General Director (appointed on 5 July 2007) Ms Phan Bich Van General Director (resigned on 5 July 2007) Mr Ho Xuan Nghiem First Deputy General Director Mr Hoang Khanh Sinh Deputy General Director Ms Nguyen Thi Thanh Mai Deputy General Director Mr Luu Huynh Deputy General Director Mr Nguyen Quang Trung Deputy General Director (resigned on 25 June 2007) Mr Tao Thanh Danh Deputy General Director Mr Nguyen Minh Tam Deputy General Director (appointed on 6 August 2007) Mr Nguyen Van Thanh Deputy General Director (appointed on 16 July 2007) Mr To Thanh Hoang Deputy General Director (appointed on 6 August 2007) Mr Dao Nguyen Vu Deputy General Director (appointed on 26 June 2007) PRINCIPAL ACTIVITIES The principal activities of Sacombank (“the Bank”) are to mobilise short, medium and long-term capital in the form of time deposits, demand deposits, certifi cates of deposit; receive investment funds; receive capital from local and overseas fi nancial institutions; grant short, medium and long-term loans; discount commercial paper, bonds and valuable documents; investments in associate, joint-ventures and other companies; provide settlement services to customers; deal in foreign exchange, gold; provide international settlements services; investment in bonds and other securities; provide investment and asset management services, other banking services. The Bank’s registered offi ce 266-268 Nam Ky Khoi Nghia Street, District 3, Ho Chi Minh City. The Bank’s auditors PricewaterhouseCoopers (Vietnam) Limited. 48
STATEMENT OF THE RESPONSIBILITY OF THE BOARD OF GENERAL DIRECTORS IN RESPECT OF THE CONSOLIDATED FINANCIAL STATEMENTS The Board of General Directors is responsible for preparation of the consolidated fi nancial statements which give a true and fair view of the fi nancial position of the Group as at 31 December 2007 and of its results of operations and cash fl ows for the year then ended. In preparing these consolidated fi nancial statements, the Board of General Directors is required to: • select suitable accounting policies and then apply them consistently; • make judgments and estimates that are reasonable and prudent; and • prepare the consolidated fi nancial statements on a going concern basis unless it is inappropriate to presume that the Group will continue in business. We, the Board of General Directors is responsible for ensuring that proper accounting records are kept which disclose, with reasonable accuracy at any time, the fi nancial position of the Group and which enable consolidated fi nancial statements to be prepared which comply with the basis of accounting set out in Note 2 to the consolidated fi nancial statements. The Bank’s Board of General Directors is responsible for ensuring compliance with Vietnamese Accounting Standards and prevailing regulations applicable to banks and other credit institutions operating in SR Vietnam. We are also responsible for safeguarding the assets of the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS We hereby approve the accompanying consolidated fi nancial statements on page 52 to page 93 which give a true and fair view of the fi nancial position of the Group as at 31 December 2007 and of its results of operations and cash fl ows for the year then ended, in accordance with Vietnamese Accounting Standards and prevailing regulations applicable to banks and other credit institutions operating in SR Vietnam. For and on behalf of the Board of General Directors ────── ─────────────────────── ── ─ ── ─ ──────────────── Tran Xuan Huy General Director Hochiminh City, SR Vietnam 6 March 2008 49
Page 1 and 2: Content Message of the Chairman of
Page 3 and 4: Our Dreams: OVER THE RAINBOW, DREAM
Page 5 and 6: THE SECRET OF OUR SUCCESS Sacombank
Page 8 and 9: 8 ANNUAL REPORT 2007 1 1. Mr. Dang
Page 10 and 11: 10 ANNUAL REPORT 2007
Page 12 and 13: A YEAR WITH OUTSTANDING ACHIEVEMENT
Page 14: 14 ANNUAL REPORT 2007 Our Vision: W
Page 17 and 18: Youth - Dynamic - Enthusiasm Custom
Page 19 and 20: 3. Total Assets Total assets at end
Page 21 and 22: 5. Loans and Debt Securities Invest
Page 23 and 24: Sacombank in 2007 had a sterling fi
Page 25 and 26: 1 BOARD OF SUPERVISORS 1. Mr. Nguye
Page 27 and 28: “Start yesterday, Strengthen toda
Page 29 and 30: To appreciate the staff for their c
Page 31 and 32: Our Partnership: BUILT ON TRUST, WE
Page 33 and 34: Sacombank’s leaders recognized th
Page 35 and 36: 4 1 BOARD OF MANAGEMENT 3 7 6. Mr.
Page 38 and 39: ANNUAL REPORT 2007 MAJOR TARGETS OF
Page 40 and 41: 40 ANNUAL REPORT 2007 ▲ Challenge
Page 42 and 43: ANNUAL REPORT 2007 42
Page 44 and 45: ANNUAL REPORT 2007 Organizational C
Page 46: ANNUAL REPORT 2007 Our Goals: THE S
Page 51 and 52: INDEPENDENT AUDITOR’S REPORT TO S
Page 53 and 54: CONSOLIDATED BALANCE SHEET (continu
Page 55 and 56: CONSOLIDATED CASH FLOW STATEMENT (I
Page 57 and 58: NOTES TO THE CONSOLIDATED FINANCIAL
Page 95 and 96: Our Determination: EVERY WAVES LAUN
Page 97 and 98:
SINGLE-ENTITY FINANCIAL STATEMENTS
Page 99 and 100:
SINGLE-ENTITY FINANCIAL STATEMENTS
Page 101:
101
Page 104 and 105:
ANNUAL REPORT 2007 AWARDS BESTOWED
Page 106 and 107:
ANNUAL REPORT 2007 106 TEN MILESTON
Page 108 and 109:
ANNUAL REPORT 2007 108 TEN MILESTON
Page 110 and 111:
ANNUAL REPORT 2007 110
Page 112 and 113:
ANNUAL REPORT 2007 INVESTOR RELATIO
Page 114 and 115:
ANNUAL REPORT 2007 Price , , , , 02
Page 116 and 117:
ANNUAL REPORT 2007 CORRESPONDENT BA
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 129 and 130:
Our Achievements: PARADISE ARE NOT
Page 131 and 132:
5 Long Bien Branch 247 Ngo Gia Tu S
Page 133 and 134:
Central Region 16 Lam Dong Branch 3
Page 135 and 136:
43 Tay Loc T.O 172 (Formerly 02) -
Page 137 and 138:
31 Dong Nai Branch 87-89 30th April
Page 139 and 140:
37 Cho Lon Branch 485-487-489 Nguye
Page 141 and 142:
43 Thu Duc Branch 251 Vo Van Ngan S
Page 143 and 144:
53 Can Tho Branch 34 A2 - Tra Noc 1
Page 145 and 146:
62 Ben Tre Branch 16 Hai Ba Trung S
Page 147:
SUBSIDIARIES AND JOINT - VENTURE SA
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notes to the consolidated financial statements - Sacombank

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