notes to the consolidated financial statements - Sacombank

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149 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2011 Form B 05/TCTD - HN 44.1.6 Concentration of risks of financial assets with credit risk exposure (continued) (b) Industry sector (continued) Currency: Million VND ANNUAL REPORT 2011 Agriculture and forestry Others Total Public sector Construction Whole-sale and retail trade Financial institutions and StateManufacturing Real estate Balances with the State Bank 3,618,973 - - - - - - - 3,618,973 Placements with and loans to other credit institutions (*) 21,209,735 - - - - - - - 21,209,735 Loans and advances to customers (*) 2,573,937 19,746,604 5,956,885 12,856,258 1,967,824 5,451,736 9,004,173 24,927,386 82,484,803 Derivatives and other financial instruments - 7,081 - - - - - - 7,081 Debt securities 17,658,754 - 2,100,000 - - 750,000 - 500,000 21,008,754 Other financial assets (*) 1,415,845 142,541 348,587 334,363 17,727 88,714 110,885 1,073,870 3,532,532 As at 31 December 2011 46,477,244 19,896,226 8,405,472 13,190,621 1,985,551 6,290,450 9,115,058 26,501,256 131,861,878 Credit risk exposures relating to off-balance sheet items are as follows: Agriculture and forestry Others Total Public sectorConstruction Whole-sale and retail trade Financial institutions and StateManufacturing Real estate Financial guarantees - 665,440 3,320 506,881 51,680 85,900 84,828 596,799 1,994,848 Letters of credit commitment - 1,591,924 - 300,107 193 92,097 264,092 2,939,777 5,188,190 As at 31 December 2011 - 2,257,364 3,320 806,988 51,873 177,997 348,920 3,536,576 7,183,038 (*): the above balances exclude provision. ANNUAL REPORT 2011 149
44.2 Market risk The Group takes on exposure to market risks, which is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risks arise from open positions in interest rate, currency and equity products, all of which are exposed to general and specific market movements and changes in the level of volatility of market rates or prices such as interest rates, credit spreads, foreign exchange rates and equity prices. 44.2.1 Foreign exchange risk Foreign exchange risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates. The Group was incorporated and operates in Vietnam, with VND as its functional currency. The major currency in which the Group transacts is VND. The exchange rate between VND and foreign currencies during the year fluctuated significantly. The Group’s loans and advances were mainly denominated in VND with the remainder mainly in USD. However, some of the Group other assets are in currencies other than the functional currency and USD. The Group management has set limits on positions by currency. Positions are monitored on a daily basis and hedging strategies used to ensure positions are maintained within established limits ANNUAL REPORT 2011 150
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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
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Criteria Rating Meanings Issue cred
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Development orientation of the bank
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lending portfolio in accordance wit
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on job position/title, and proper a
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CORPORATE GOVERNANCE With the aim o
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the proper implementation of these
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Data Center Launch the virtualisati
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OBJECTIVES AND MANAGERIAL RESOLUTIO
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asset portfolio with risks with the
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n Third: building the business netw
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Results for some operational safety
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NUMBER OF STB SHARES BY YEAR 208,94
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SHAREHOLDING STRUCTURE AT 31 DECEMB
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As a large and responsible listed o
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Of these, Sacombank focuses special
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FOR A BETTER LIFE n Continuing to p
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FINANCIAL STATEMENTS Bringing added
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CORPORATE INFORMATION Banking Licen
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AuDITOR’S REPORT INDEPENDENT AUDI
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BALANCE SHEET (continued) B LIABILI
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CASH FLOW STATEMENT (Direct method)
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CONSOLIDATED FINANCIAL STATEMENTS F
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STATEMENT BY MANAGEMENT STATEMENT O
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Opinion In our opinion, the consoli
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CONSOLIDATED INCOME STATEMENT (Cont
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CONSOLIDATED INCOME STATEMENT (Dire
Page 101 and 102: NOTES TO THE CONSOLIDATED FINANCIAL
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
Page 151: 44.1.6 Concentration of risks of fi
Page 155 and 156: 44.2.1 Foreign exchange risk (conti
Page 157 and 158: 44.2.2 Interest rate risk (continue
Page 159 and 160: 44.2.3 Price risk The Group is expo
Page 161 and 162: 44.3.1 On-balance sheet items CURRE
Page 163 and 164: 45 FAIR VALUE MEASUREMENT The conso
Page 165 and 166: 4. Dong Anh Transaction Office 55 G
Page 167 and 168: 4. Thua Thien Hue Branch 126 Nguyen
Page 169 and 170: 2. Phan Ri Cua Transaction Office 2
Page 171 and 172: 3. Ong Ta Transaction Office 785-78
Page 173 and 174: 5. Le Trong Tan Transaction Office
Page 175 and 176: 1. My Xuyen Transaction Office 1 Av
Page 177 and 178: ANNUAL REPORT 2011 174
Page 179: SAIGON THUONG TIN COMMERCIAL JOINT
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