notes to the consolidated financial statements - Sacombank

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ACtIVItIES oF tHE BoARD oF DIRECtoRS Sacombank’s Board of Directors (BOD), with a term of five years, is responsible for managing the Bank, which comprises four major tasks: planning, organisation, leadership and monitoring. The BOD comprises a Chairman, two Vice Chairpersons, and four Members (one regular member, two semi-regular members, and one non-executive independent member). Meetings are held once every quarter and may be held extraordinarily if required. At the beginning of the term, the BOD elects a Chairman by secret ballot. The BOD Chairman approves the BOD with members working on a regular basis (referred to as the Permanent Committee of the BOD) and assigns tasks to each member. Each assigned BOD member takes charge of specific Councils or Committees/Boards based on their experience and availability, as follows: n Councils, including: Credit Council, Asset Investment Council, Financial Investment Council, Reward/Disciplinary Council, Loss Handling Council, and Training Council, among others. These Councils meet and decide all relevant matters at the proposals of the Board of Management. n Committees/Boards, including: Risk Management Committee, Development Strategies and Policies Committee, Human Resources Committee, Remuneration and Incentives Committee, Steering Committee for Prevention and Handling of Overdue Debts, Banking Technology Modernisation Board, and Restructuring Board, among others. These Boards and Committees act as consulting bodies for the BOD on relevant matters, ranging from planning, organisation and leadership to monitoring and assessing implementation. 25 ANNUAL REPORT 2011
ORGANIZATION The Chairman of the BOD decides all matters under the BOD’s authority on its behalf during the intervals between BOD meetings at the proposals of the Board of Management and the relevant Committees/Boards, and shall report to the BOD at the nearest subsequent meeting. At the end of each month, quarter and six-month period, and at the end of the year, the Chairman of the BOD shall preside over meetings on business tasks for the next period. In general, with the defined functions and tasks of the management body of the Bank, and its responsibility to shareholders, the BOD members have adequately performed their managerial roles, providing timely instructions and support to the Board of Management and closely coordinating with the Board of Supervisors in the inspection and supervision of the operations of the Bank and its subsidiaries. The BOD is not only a firm source of support for the Board of Management of the Bank but also a central point of solidarity, leadership and planning for policies and legal frameworks in accordance with the laws, regulations and the Bank’s development orientation. As a result, Sacombank has operated with increasing stability, safety and efficiency, and has had outstanding achievements during its 20 years of development. ANNUAL REPORT 2011 26
Page 2: Explanation about the meaning of fi
Page 5 and 6: MAJOR FINANCIAL INDICATORS (in VND
Page 7 and 8: ANNUAL REPORT 2011 4
Page 9 and 10: 9 REGION BRANCH 8 7 3 2 5 1 4 6 TRA
Page 11 and 12: shortcomings of intensive concentra
Page 13: From the left, Mr Dang Van Thanh -
Page 16 and 17: InCoRPoRAtIon AnD DEVELoPMEnt SACOM
Page 18 and 19: HIStoRICAL MILEStonES 21 December 1
Page 20 and 21: 2011 EVEnt HIGHLIGHtS 1. 22 Februar
Page 22 and 23: 5. 7 April 2011 - Ho Chi Minh City
Page 24 and 25: oRGAnIzAtIon CHARt Management and S
Page 26 and 27: IntRoDUCtIon to tHE BoARD oF DIRECt
Page 30 and 31: IntRoDUCtIon to tHE BoARD oF SUPERV
Page 32 and 33: IntRoDUCtIon to tHE BoARD oF MAnAGE
Page 35 and 36: For 20 years, Sacombank has been de
Page 37 and 38: In addition, to ensure the highest
Page 39 and 40: Liquidity risk (i) High inflation o
Page 41 and 42: and foreign exchange rates were con
Page 43 and 44: Day and Sacombank Plus in associati
Page 45 and 46: Frequent training was provided thro
Page 47 and 48: 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 and 100:
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 and 152:
44.1.6 Concentration of risks of fi
Page 153 and 154:
44.2 Market risk The Group takes on
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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