notes to the consolidated financial statements - Sacombank

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CONSOLIDATED INCOME STATEMENT CASH FLOWS FROM INVESTING ACTIVITIES 97 ANNUAL REPORT 2011 Year ended 31 December 2011 2010 Million VND Million VND 01 Purchases of fixed assets (1,873,541) (1,574,225) 02 Proceeds from disposals of fixed assets 414,058 488,085 03 Cash paid for investments in other entities (150,223) (195,321) 04 Proceeds from disposal of investments in other entities and other long-term investments 260,565 750,769 05 Dividend income 108,435 75,503 07 Movement due to converting a branch into a subsidiary 79,046 II NET CASH FLOWS FROM INVESTING ACTIVITIES (1,161,660) (455,189) CASH FLOWS FROM FINANCING ACTIVITIES 01 Increase in chartered capital 1,560,447 1,768,894 Increase in capital contributed by minority interest in subsidiaries - 310,154 02 Dividends paid (1,337,624) - 03 Purchase treasury shares (1,450,558) - III NET CASH FLOWS FROM FINANCING ACTIVITIES (1,227,735) 2,079,048 IV NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (5,104,861) 4,057,501 V CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 27,677,230 23,619,729 Decrease in cash and cash equivalents due to disposal of subsidiaries (3,048,384) VI CASH AND CASH EQUIVALENTS AT END OF YEAR 19,523,985 27,677,230 Cash and cash equivalents are made up of: (Direct method) (continued) Form B 04/TCTD - HN Cash and precious metals 11,857,270 12,677,849 Balances with the State Bank of Vietnam 2,807,350 3,618,973 Placement with other credits institutions as demand and term of original maturity within 3 months 4,589,365 9,973,608 Short-term valuable paper issued by a credit institution with maturity within 3 months 270,000 1,406,800 19,523,985 27,677,230 ───────────── ────────────── ────────────── Luu Van Hoa Nguyen Thi My Hanh Tran Xuan Huy Preparer Chief Accountant Chief Executive Officer 9 March 2012
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2011 1 GENERAL INFORMATION Sai Gon Thuong Tin Commercial Joint Stock Bank (herein referred to as “the Bank”) is a Vietnamese joint-stock bank registered in the Socialist Republic of Vietnam. Banking Licence No. 0006/NH-GP was granted to the Bank by the State Bank of Vietnam (“the SBV”) effective 5 December 1991. The licence is for a period of 50 years and stipulates a share capital of VND3,000 million. The Bank commenced its operation on 21 December 1991. The Bank’s chartered capital as at 31 December 2011 was VND10,739,677 million. The Bank’s Head Office locates at No. 266-268 Nam Ky Khoi Nghia Street, District 3, Ho Chi Minh City. The Bank has one Head Office, 1 transaction office, 72 branches (including one branch in Laos) and 334 transaction offices nationwide and one saving fund As at 31 December 2011, the Bank had the following subsidiaries: % direct % indirect Total % shareholding shareholding shareholding Operating by the Bank through by the Group Licence Nature of business subsidiary Sacombank Asset Management Company 4104000053 Asset management 100% 0% 100% Sacombank Leasing Company 04/GP-NHNN Leasing activities 100% 0% 100% Sacombank Remittance Express Company 90/QĐ-NHNN Money remittance 100% 0% 100% Sacombank Jewelry Company 4104003812 Process and trade gold and precious metals 100% 0% 100% Sacombank Tech Company 0305584790 IT services, IT equipment trading and others 0% 100% 100% Sacombank Cambodia N.27 Banking 100% 0% 100% During the year, the Bank sold 57.55 million shares of Sacombank Securities Company. Accordingly, the Bank’s shareholding in this company reduced to 10.95%. In the year, Sacombank Jewelry Company sold 90% of its shareholding in its subsidiary, Cambodia Sacombank Jewelry Company. As at 31 December 2011, the Bank had 9,596 employees (2010: 8,507 employees). Form B 05/TCTD - HN ANNUAL REPORT 2011 98
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Explanation about the meaning of fi
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MAJOR FINANCIAL INDICATORS (in VND
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ANNUAL REPORT 2011 4
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9 REGION BRANCH 8 7 3 2 5 1 4 6 TRA
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shortcomings of intensive concentra
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From the left, Mr Dang Van Thanh -
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InCoRPoRAtIon AnD DEVELoPMEnt SACOM
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HIStoRICAL MILEStonES 21 December 1
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2011 EVEnt HIGHLIGHtS 1. 22 Februar
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5. 7 April 2011 - Ho Chi Minh City
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oRGAnIzAtIon CHARt Management and S
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IntRoDUCtIon to tHE BoARD oF DIRECt
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ACtIVItIES oF tHE BoARD oF DIRECtoR
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IntRoDUCtIon to tHE BoARD oF SUPERV
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IntRoDUCtIon to tHE BoARD oF MAnAGE
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For 20 years, Sacombank has been de
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In addition, to ensure the highest
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Liquidity risk (i) High inflation o
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and foreign exchange rates were con
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Day and Sacombank Plus in associati
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Frequent training was provided thro
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BÁO CÁO KẾT QUẢ KINH DOANH AN
Page 49 and 50: Criteria Rating Meanings Issue cred
Page 51 and 52: Development orientation of the bank
Page 53 and 54: lending portfolio in accordance wit
Page 55 and 56: on job position/title, and proper a
Page 57 and 58: CORPORATE GOVERNANCE With the aim o
Page 59 and 60: the proper implementation of these
Page 61 and 62: Data Center Launch the virtualisati
Page 63 and 64: OBJECTIVES AND MANAGERIAL RESOLUTIO
Page 65 and 66: asset portfolio with risks with the
Page 67 and 68: n Third: building the business netw
Page 69 and 70: Results for some operational safety
Page 71 and 72: NUMBER OF STB SHARES BY YEAR 208,94
Page 73 and 74: SHAREHOLDING STRUCTURE AT 31 DECEMB
Page 75 and 76: As a large and responsible listed o
Page 77 and 78: Of these, Sacombank focuses special
Page 79 and 80: FOR A BETTER LIFE n Continuing to p
Page 81 and 82: FINANCIAL STATEMENTS Bringing added
Page 83 and 84: CORPORATE INFORMATION Banking Licen
Page 85 and 86: AuDITOR’S REPORT INDEPENDENT AUDI
Page 87 and 88: BALANCE SHEET (continued) B LIABILI
Page 89 and 90: CASH FLOW STATEMENT (Direct method)
Page 91 and 92: CONSOLIDATED FINANCIAL STATEMENTS F
Page 93 and 94: STATEMENT BY MANAGEMENT STATEMENT O
Page 95 and 96: Opinion In our opinion, the consoli
Page 97 and 98: CONSOLIDATED INCOME STATEMENT (Cont
Page 99: CONSOLIDATED INCOME STATEMENT (Dire
Page 103 and 104: Inter-company balances, transaction
Page 105 and 106: n Second-time rescheduled debts whi
Page 107 and 108: Gains or losses from disposal of tr
Page 109 and 110: 2.13 Cash and cash equivalents For
Page 111 and 112: 4 BALANCES WITH THE STATE BANK 31.1
Page 113 and 114: 6 TRADING SECURITIES 31.12.2011 31.
Page 115 and 116: 8 LOANS, ADVANCES AND FINANCE LEASE
Page 117 and 118: 8.7 Analysis by type of business en
Page 119 and 120: (ii) Included in debt securities is
Page 121 and 122: Accumulated depreciation At 1 Janua
Page 123 and 124: 15 OTHER ASSETS 31.12.2011 Million
Page 125 and 126: Denominated in VND 31 December 2010
Page 127 and 128: The facility financed for a subsidi
Page 129 and 130: 21.1 Payables to customers Included
Page 131 and 132: Number of shares Ordinary shares Sh
Page 133 and 134: In accordance with Decree No. 146/2
Page 135 and 136: 28 FEES AND COMMISSION INCOME 2011
Page 137 and 138: 34 GENERAL AND ADMINISTRATIVE EXPEN
Page 139 and 140: The deferred income tax assets aris
Page 141 and 142: 41 COMMITMENTS UNDER OPERATING LEAS
Page 143 and 144: 44.1.1 Credit risk measurement and
Page 145 and 146: 44.1.4 Collaterals As a common prac
Page 147 and 148: 44.1.5 Credit quality (continued) T
Page 149 and 150: 44.1.6 Concentration of risks of fi
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44.1.6 Concentration of risks of fi
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44.2 Market risk The Group takes on
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44.2.1 Foreign exchange risk (conti
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44.2.2 Interest rate risk (continue
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44.2.3 Price risk The Group is expo
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44.3.1 On-balance sheet items CURRE
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45 FAIR VALUE MEASUREMENT The conso
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4. Dong Anh Transaction Office 55 G
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4. Thua Thien Hue Branch 126 Nguyen
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2. Phan Ri Cua Transaction Office 2
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3. Ong Ta Transaction Office 785-78
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5. Le Trong Tan Transaction Office
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1. My Xuyen Transaction Office 1 Av
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ANNUAL REPORT 2011 174
Page 179:
SAIGON THUONG TIN COMMERCIAL JOINT
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