notes to the consolidated financial statements - Sacombank
notes to the consolidated financial statements - Sacombank
notes to the consolidated financial statements - Sacombank
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<br />
For <strong>the</strong> year ended 31 December 2011<br />
40 CONTINGENCIES AND COMMITMENTS<br />
The aggregate amounts of outstanding guarantees, letters of credit and o<strong>the</strong>r commitments at <strong>the</strong> end of <strong>the</strong> year were:<br />
137 ANNUAL REPORT 2011<br />
Denominated in<br />
VND<br />
Million VND<br />
31 December 2011<br />
Denominated<br />
in foreign<br />
currencies<br />
Million VND<br />
Total<br />
Million VND<br />
Letters of credit at sight 1,514 3,538,974 3,540,488<br />
Deferred letters of credit - 2,108,624 2,108,624<br />
Borrowing guarantees 35,700 - 35,700<br />
Payment guarantees 1,421,269 63,487 1,484,756<br />
Performance guarantees 350,177 24,167 374,344<br />
Bidding guarantees 97,083 2,605 99,688<br />
O<strong>the</strong>r guarantees 318,914 300,724 619,638<br />
Foreign currency buying spot transactions - 2,395,720 2,395,720<br />
Foreign currency selling spot transactions - 2,313,784 2,313,784<br />
Foreign currency paid swap transactions 55,478 14,151,758 14,207,236<br />
Foreign currency received swap transactions 1,482,623 12,447,245 13,929,868<br />
3,762,758 37,347,088 41,109,846<br />
Denominated in<br />
VND<br />
Million VND<br />
31 December 2010<br />
Denominated<br />
in foreign<br />
currencies<br />
Million VND<br />
Form B 05/TCTD - HN<br />
Total<br />
Million VND<br />
Letters of credit at sight - 4,202,877 4,202,877<br />
Deferred letters of credit - 985,313 985,313<br />
Borrowing guarantees 17,720 - 17,720<br />
Payment guarantees 1,064,093 38,281 1,102,374<br />
Performance guarantees 377,537 32,261 409,798<br />
Bidding guarantees 92,787 3,219 96,006<br />
O<strong>the</strong>r guarantees 201,199 167,752 368,951<br />
Foreign currency buying spot transactions - 2,161,302 2,161,302<br />
Foreign currency selling spot transactions - 2,275,581 2,275,581<br />
Foreign currency paid swap transactions 65,688 2,444,591 2,510,279<br />
Foreign currency received swap transactions 7,940 2,630,586 2,638,526<br />
1,826,964 14,941,763 16,768,727<br />
In <strong>the</strong> normal course of business, <strong>the</strong> Group makes various commitments and incurs certain contingent liabilities that<br />
are presented off balance sheet. The commitments and contingent liabilities include guarantees, letters of credit, foreign<br />
currency forward contracts and undue spot contracts. The Group does not anticipate any significant losses as a result of<br />
<strong>the</strong>se transactions.
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