notes to the consolidated financial statements - Sacombank

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SACoMBAnK PRoFILE GENERAL INFORMATION Vietnamese name : Ngân hàng Thương mại Cổ phần Sài Gòn Thương Tín English name : Saigon Thuong Tin Commercial Joint Stock Bank Abbreviated name : Sacombank Date of incorporation : 21 December 1991 Charter capital : VND10,739,676,640,000 (as at 31 December 2011) Head office : 266-268 Nam Ky Khoi Nghia Street, District 3, HCMC Telephone : +848 39 320 420 Fax : +848 39 320 424 Email : info@sacombank.com Website : www.sacombank.com.vn SWIFT code : SGTTVNVX Tax code : 0301103908 A PIONEER AMONG VIETNAMESE BANKS n The first bank listed on the stock exchange of Vietnam. n The first Vietnamese bank to expand internationally, establishing a branch in Laos and a subsidiary bank in Cambodia. n The only Vietnamese bank to initiate banking models exclusively for women (8 March Branch) and for the Chinese-speaking community (Hoa Viet Branch). n The first Vietnamese bank to receive sponsored capital contributions and technical assistance from international financial institutions including IFC, ADB, Proparco and FMO,… 5 Best Retail Bank of Vietnam Best Corporate Governance and Investor Relations Bank in 2011 ANNUAL REPORT 2011 n The first Vietnamese commercial joint stock bank to build and launch an international-standard Data Center (in 2008). n The first Vietnamese commercial joint stock bank to conduct a comprehensive restructuring (in 2002) and apply international accounting standards in financial reporting and analysis (in 2004). n In 2011, Sacombank was recognised by the world community through numerous prestigious awards: Best Foreign Exchange Provider in Vietnam in 2009, 2010, 2011 Best International Payment Bank Best Cash Managing Bank Bank of The Year 2011
9 REGION BRANCH 8 7 3 2 5 1 4 6 TRANSACTION OFFICE ATM POS Domestic 71 331 763 1,803 1 HCMC 17 97 240 950 2 Hanoi 8 33 72 291 3 South Western 14 71 164 129 4 South Eastern 6 36 66 56 5 Northern Central Coastal 7 34 72 216 6 Southern Central Coastal & Central Highlands 9 33 76 114 7 Northern 10 27 73 47 Foreign 5 1 7 - 8 Cambodia 4 - 5 - 9 Laos 1 1 2 - TOTAL 76 332 408 770 1,803 MESSAGE ANNUAL REPORT 2011 6
Page 2: Explanation about the meaning of fi
Page 5 and 6: MAJOR FINANCIAL INDICATORS (in VND
Page 7: ANNUAL REPORT 2011 4
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 and 60:
the proper implementation of these
Page 61 and 62:
Data Center Launch the virtualisati
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OBJECTIVES AND MANAGERIAL RESOLUTIO
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asset portfolio with risks with the
Page 67 and 68:
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
Page 85 and 86:
AuDITOR’S REPORT INDEPENDENT AUDI
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BALANCE SHEET (continued) B LIABILI
Page 89 and 90:
CASH FLOW STATEMENT (Direct method)
Page 91 and 92:
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
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NOTES TO THE CONSOLIDATED FINANCIAL
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Inter-company balances, transaction
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n Second-time rescheduled debts whi
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Gains or losses from disposal of tr
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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
Page 127 and 128:
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
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
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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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