notes to the consolidated financial statements - Sacombank

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tECHnoLoGy QUẢN TRỊ CôNG MAnAGEMEnt NGHệ KEY SOLUTIONS Information Technology (IT) Solutions are among the four important groups of strategies of Sacombank: (i) people, (ii) technology, (iii) capital and (iv) network. In different periods, the order of priority of these four groups of strategies may change, but IT is being increasingly appreciated with time. Through its historical milestones, Sacombank has always applied modern technology to the management and operation of its systems. With the aim of SAFE and EFFICIENT development, the Bank focused on launching the following IT solutions in 2011: n Upgrade payment systems: upgrade the payment systems according to the standards of the SWIFT payment organisation in order to increase safety in international payment transactions and improve service quality. In addition, other domestic payment systems have also been strengthened and restructured step by step for more effective management, such as centralised management of the CIATD system across the entire network of the Bank, restructuring of the payment systems in partnership with Citibank, HSBC, Deustch Bank, telephone companies, power supply and water supply companies, etc.; n Launch applications that help improve employee productivity: The e-office system aimed at developing a general information portal which provides employees with necessary information, research and work scheduling tools, as well as incorporating paper business processes into the system step by step in order to minimise the time required for circulation of documents and reduce expenses. Other management systems were also launched and automated, such as a system for managing important papers and publications, a cash management system, and a system for evaluation of employee KPIs; n Launch innovations in the processes in the core banking system, which is being upgraded to the new version T24/R11, and other applications: requirements for improvement of processes, simplification of data entry steps and provision of additional management requirements in order to ensure safety and efficiency in the operation of the systems throughout 2011. 57 ANNUAL REPORT 2011 Much attention was paid to solutions for refining and automating data entry processes for payment and money transfer subsystems inside and outside the network. The automatic payment function was further improved for corporate and individual customers through the Electronic Banking channel. n Launch a virtualisation system on a medium-level storage platform: the medium-level storage system with low investment cost and a large expansion capacity served as a good platform for building a virtualisation system and an initial platform for cloud-computing applications in banking. This system has helped the Bank reduce its expenses for storage space, electricity, cooling system and system maintenance considerably. In addition, the virtualisation system enhances system safety and minimises the time required for launching new systems. On the basis of the technology platforms launched in 2011, the information technology systems of the Bank have been improved step by step and solutions have been developed to meet increasing operational requirements from 2011 to 2020. Key solutions include: n Diversify products and improve labour productivity. Continuously upgrade the T24 system as scheduled. Coordinate operations to constantly innovate manipulation processes and improve the productivity of operational employees; Launch products and services on the e-channel; n Improve competitiveness. Develop and complete the Management Information System (MIS), heading for development of a decision making support system and a knowledge base of Sacombank; Plan and deploy the upgrade of network infrastructure to increase the speed of transaction processing and meet the requirements for launching modern products and services;
Data Center Launch the virtualisation system in order to enhance the readiness of systems, reducing electricity charge and storage space of servers at the Data Center. n Operate with safety and confidentiality. Launch disaster recovery plans (DRP) in order to enhance the operational stability of systems; Develop a back-up Data Center for DRP solutions and satisfying the Bank’s needs. Implement the ISO27001 standard for information security and confidentiality standardisation. Launch tools for monitoring IT services; launch the Information Technology Infrastructure Library (ITIL) for standardisation of IT services. n Ensure cost efficiency in the provision of IT services. Enhance the usability and the ability to share information technology devices; Make IT investments in accordance with the total investment cost of the owner (TCO), not only low starting costs. Improve the knowledge and skills of employees to make the best use of IT resources. n Enhance awareness of new information technology to ensure selection of the best solutions for the Bank in future. ANNUAL REPORT 2011 58
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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
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 28 and 29: ACtIVItIES oF tHE BoARD oF DIRECtoR
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: the proper implementation of these
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
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Page 109 and 110: 2.13 Cash and cash equivalents For
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4 BALANCES WITH THE STATE BANK 31.1
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6 TRADING SECURITIES 31.12.2011 31.
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8 LOANS, ADVANCES AND FINANCE LEASE
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8.7 Analysis by type of business en
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(ii) Included in debt securities is
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Accumulated depreciation At 1 Janua
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15 OTHER ASSETS 31.12.2011 Million
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Denominated in VND 31 December 2010
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The facility financed for a subsidi
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21.1 Payables to customers Included
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Number of shares Ordinary shares Sh
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In accordance with Decree No. 146/2
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28 FEES AND COMMISSION INCOME 2011
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34 GENERAL AND ADMINISTRATIVE EXPEN
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The deferred income tax assets aris
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41 COMMITMENTS UNDER OPERATING LEAS
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44.1.1 Credit risk measurement and
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44.1.4 Collaterals As a common prac
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44.1.5 Credit quality (continued) T
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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
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SAIGON THUONG TIN COMMERCIAL JOINT
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