saigon - hanoi commercial joint stock bank - fpts - home€¦ · · 2009-08-20intangible fixed...

Saigon - Hanoi Commercial Joint Stock Bank First Quarter 2009

Saigon - Hanoi Commercial Joint Stock Bank No 77 - Tran Hung Dao street - Hoan Kiem district Hanoi capital - Vietnam

Financial statementsfor the Quarter ended 31 March 2009

BALANCE SHEET

Unit: VND No Items Note 31/03/2009 01/01/2009 A Assets

I Cash and precious metals 3 103,173,707,783 67,478,801,936

II Balances with the State Bank of Vietnam 4 90,215,725,197 216,116,747,098

III Placements with and loans to other bank s 5 2,426,318,405,017 2,945,975,032,363 1. Placements w ith credit institutions 2,426,318,405,017 2,945,975,032,363 2. Loans to credit institutions - - 3. Provision for credit losses - -

IV Held for trading securities 6 480,689,482,889 480,531,192,889 1. Held for trading securities 494,698,780,889 494,698,780,889 2. Provision for impairment losses (14,009,298,000) (14,167,588,000)

V Derivative financial instruments and others - 368,865,092

VI Loans to customers 5,859,178,443,911 6,227,158,358,011 1. Loans to customers 7 5,884,719,383,705 6,252,699,297,805 2. Provision for credit losses 8 (25,540,939,794) (25,540,939,794)

VII Investment securities 9 1,855,500,000,000 1,955,500,000,000 1. Available-for-sale securities 955,000,000,000 955,000,000,000 2. Held-to-maturity securities 900,500,000,000 1,000,500,000,000 3. Provision for impairment losses - -

VIII Investments in associate and joint ventures 10 748,159,000,000 748,159,000,000 1. Investments in subsidiary company - - 2. Capital contribution in joint-ventures - - 3. Investments in associate company - - 4. Other long-term investments 748,159,000,000 748,159,000,000 5. Provision for impairment losses - -



No Items Note 31/03/2009 01/01/2009IX Fixed assets 826,468,769,715 823,991,020,135 1. Tangible fixed assets 11 99,540,982,817 97,166,777,655

- Historical cost 118,276,035,308 112,814,636,850 - Accumulated depreciation (18,735,052,491) (15,647,859,195)

2. Finance leased assets - - - Historical cost - - - Accumulated depreciation - -

3. Intangible fixed assets 12 726,927,786,898 726,824,242,480 - Historical cost 728,836,281,671 728,521,641,671 - Accumulated amortization (1,908,494,773) (1,697,399,191)

X Investment property - - - Historical cost - - - Accumulated depreciation - -

XI Other assets 1,261,700,275,009 916,031,001,018 1. Accounts Receivable 13 177,354,317,378 150,637,515,167 2. Accrued interest and fees income receivables 182,952,723,199 124,200,304,363 3. Deferred income tax assets - - 4. Other assets 13 901,393,234,432 641,193,181,488 5. Provision for impairment losses - -

Total assets 13,651,403,809,521 14,381,310,018,542



Items Note 31/03/2009 01/01/2009

B Liabilities and Shareholders' Equity

I Borrowings from the State Bank of Vietnam - -

II Deposits and borrowings from other creditinstitutions

14 775,895,545,447 2,235,084,174,268

1. Deposits from other credit institutions 775,895,545,447 2,235,084,174,268 2. Borrowings from other credit institutions - -

III Deposits from customers 15 10,207,728,795,076 9,508,142,250,589

IV Derivative financial instruments and others - -

V Trust funds and other borrowing funds 16 25,047,809,878 25,472,932,213

VI Issuance of deposit certificates 17 - -

VII Other liabilities 287,195,951,907 345,955,425,543 1. Accrued interest and fees expenses payables 183,981,528,548 132,951,924,477 2. Deferred income tax liabilities - - 3. Accounts payable and other debts 18 102,781,914,006 212,570,991,713 4. Provision for impairment losses of off-balance-

sheet items432,509,353 432,509,353

Total liabilities 11,295,868,102,308 12,114,654,782,613

VIII Shareholders' equity 19 2,355,535,707,213 2,266,655,235,929 1. Equity of the credit organization 2,045,648,602,000 2,045,648,602,000

- Chartered capital 2,000,000,000,000 2,000,000,000,000 - Basic construction investment fund - - - Capital gain 48,000,000,000 48,000,000,000 - Treasury shares (2,351,398,000) (2,351,398,000) - Preferred shares - - - Other capital - -

2. Reserves of the credit organization 52,101,647,590 53,494,245,590 3. Foreign exchange revaluation reserves 7,826,442,092 - 4. Assets revaluation reserves - - 5. Retained earnings 249,959,015,531 167,512,388,339

Total liabilities and Shareholders' Equity 13,651,403,809,521 14,381,310,018,542



OFF-BALANCE-SHEET ITEMS

No Items Note Ending balance Beginning balanceI. Contingent liabilities 408,227,575,071 319,475,119,480 1. Loan commitments - - 2. Guarantees and standby letters of credit - - 3. Other financial facilities 408,227,575,071 319,475,119,480

Hanoi, 10 April 2009

Preparer Chief Accountant Chief Executive Officer

Ngo Thi Van Ninh Thi Lan Phuong Nguyen Van Le



INCOME STATEMENT for the Quarter ended 31 March 2009

Unit: VND No Items Note Quý I.2009 2008

1. Interest and similar income 20 437,497,974,677 1,293,370,182,074 2. Interest expense and similar charges 21 325,372,328,265 1,132,570,447,346

I. Net interest income 112,125,646,412 160,799,734,728

3. Fee and commission income 1,663,142,517 14,397,990,394 4. Fee and commission expense 1,411,219,266 6,986,096,769

II. Net fee and commission income 22 251,923,251 7,411,893,625

III. Net gain from dealing in foreign currencies and gold 5,118,982,576 26,022,892,589

IV. Net gain from trading of held-for-trading securities 23 (211,699,724) (14,167,588,000)

V. Net gain from trading of investment securities 24 - -

5. Other operating income 4,756,717,179 297,054,985,200 6. Other operating expense 65,604,580 2,299,657,181

VI. Net other income 25 4,691,112,599 294,755,328,019

VII. Dividend income - 2,964,659,000

VIII. Operating expense 26 41,101,960,429 190,536,008,814

IX. Net profit before provision for credit losses 80,874,004,685 287,250,911,147



No Items Note 2008 2007X. Provision for credit losses - 17,890,291,965

XI. Profit before tax 80,874,004,685 269,360,619,182

7. Current income tax expense 27 20,218,501,171 74,590,868,851 8. Deferred income tax expense - -

XII. Enterprise income tax expense 20,218,501,171 74,590,868,851

XIII. Net profit after tax 60,655,503,514 194,769,750,331






STATEMENT OF CASH FLOWS for the Quarter ended 31 March 2009

Unit: VND No Items Note First Quarter/2009 2008

Cash flows from operating activities01. Net profit before tax 80,874,004,685 269,360,619,182

Adjustments for:02. Depreciation and amortisation 3,298,288,878 10,527,785,795 03. Provision for impairment losses/ (Provision revert) (158,290,000) 32,057,879,965 04. Interest and fees income receivables (182,952,723,199) (124,200,304,363) 05. Interest and fees expenses payables 183,981,528,548 132,951,924,477 06 (Gains)/ losses from disposals of investment in other entities, dividend

income- (2,964,659,000)

07 Net foreign exchange (gains)/losses 7,826,442,092 - 08 Other adjustments - -

Changes in operating assets and liabilitiesChanges in operating assets

09 (Increase)/ Decrease in placement with and loans to other banks (6,966,373,087) 3,192,643,813,087 10 (Increase)/ Decrease in trading securities 100,000,000,000 (2,058,491,940,889) 11 (Increase)/ Decrease in derivative financial instruments and others

financial assets368,865,092 (368,865,092)

12 (Increase)/ Decrease in loans and advances to customers 367,979,914,100 (2,069,196,636,595) 13 (Increase)/ Decrease in interest and fees income receivables 124,200,304,363 155,877,605,423 14 (Decrease)/ Increase in provision utilisation for impairment losses - - 15 (Increase)/ Decrease in other assets (285,344,232,648) 486,478,762,252

Changes in operating liabilities - - 16 Increase/ (Decrease) in borrowings from the State Bank Vietnam - - 17 Increase/ (Decrease) in deposits and borrowings from other banks (1,459,188,628,821) (4,856,700,782,776) 18 Increase/ (Decrease) in deposits from customers (Including from State

Treasury of Vietnam)699,586,544,487 6,703,273,444,793

19 Increase/ (Decrease) in derivative financial instruments and othersfinancial liabilities

- -

20 Increase/ (Decrease) in trust funds and other borrowing funds (425,122,335) (26,426,408,750) 21 Increase/ (Decrease) in issuing certificate of deposits (Excluding the

certificate taking into financing activities)- -

22 Increase/ (Decrease) in interest and fees expenses payables (132,951,924,477) (131,134,095,908) 23 Increase/ (Decrease) in other operating liabilities (66,472,528,401) 79,289,270,609

Net cash flows from operating activities before coporate income tax (566,343,930,723) 1,792,977,412,210 24 Income taxes paid (43,316,549,306) (54,638,960,096) 25 Payment from reserves (1,392,598,000) (4,076,575,548) I. Net cash flows from operating activities (611,053,078,029) 1,734,261,876,566



No Items Note First Quarter/2009 2008

Cash flows from investing activities01. Purchase of fixed assets (5,776,038,458) (490,704,223,143) 02. Proceeds on disposal of fixed assets - - 03. Payment for disposal of fixed assets - - 04. Purchase of investment property - - 05. Proceeds on disposal of investment property - - 06. Payment for disposal of investment property - - 07. Investment in securities and other entities (Purchase of subsidiaries,

associates, joint ventures and long-term others)- (365,559,000,000)

08. Proceeds on securities and other entities (Proceeds on disposalsubsidiaries, associates, joint ventures and long-term others)

- -

09. Dividends received from investment in securities and other entities - 2,964,659,000 II. Net cash flows from investing activities (5,776,038,458) (853,298,564,143)

Cash flows from financing activities01. Proceeds from issue of shares - - 02. Proceeds from issue of exercise of options, convertible loan notes,

borrowed funds and similar others- -

03. Repayments of issue of exercise of options, convertible loan notes,borrowed funds and similar others

- -

04. Dividends paid - (95,975,683,200) 05. Purchase of treasury shares - (2,351,398,000) 06. Sale of treasury shares - - III. Net cash flows from financing activities - (98,327,081,200)

IV. Net increase/ (decrease) in cash and cash equivalents (616,829,116,487) 782,636,231,223

V. Cash and cash equivalents at beginning of year 2,774,516,954,484 1,991,880,723,261

VI. Effect of exchange rate changes on cash and cash equivalents - -

VII. Cash and cash equivalents at end of year 28 2,157,687,837,997 2,774,516,954,484






NOTES TO THE FINANCIAL STATEMENTS for the quarter ended 31 March 2009

1. Corporate information

Banking Licence No. 0041-NH/GP dated on 13/11/1993

The Banking Licence was issued by the State Bank of Vietnam for

a period of 40 years from the date of the licence.

Board of Directors Mr. Do Quang Hien, Chairman

Mr. Nguyen Van Le, Member

Mr. Nguyen Van Hai, Member

Mr. Tran Ngoc Linh, Member

Mr. Phan Huy Chi, Member

Mr. Tran Thoai, Member

Board of Management Mr. Nguyen Van Le, Chief Executive Officer (appointed on 08 May 2007)

Mr. Dang Trung Dung, Deputy General Director (appointed on 01 September 2006)

Mr. Bui Tin Nghi, Deputy General Director (appointed on 05 June 2007)

Registered office No 77 - Tran Hung Dao street - Hoan Kiem district - Hanoi capital - Vietnam

2. General information

Saigon - Hanoi Commercial Joint Stock Bank (“the Bank”) is a Vietnamese commercial joint-stock bank established in SR Vietnam for a period of 40 years pursuant to the 0041-NH/GP dated on 13/11/1993, issued by the State Bank of Vietnam ("the SBV"). The Bank's chartered capital as at 31/03/2009 is VND 2,000,000,000,0000 (Two thousand billion Vietnamese Dong).

The Bank's Head Office is located at No 77 - Tran Hung Dao street - Hoan Kiem district - Hanoi capital - Vietnam.

As at 31/03/2009, the Bank had 900 employees (2008: 844 employees).

3. Summary of accounting policies 3.1 Accounting standards and accounting system

The Bank prepares its financial statements in Vietnamese Dong ("VND") in accordance with the Law on Credit Institutions, Law on Amendment and Addition to a Number of Articles in the Law on Credit Institutions and the Vietnamese Accounting Standards and System for banks ("VAS").



3.2 Fiscal year and monetary unit

The Bank's fiscal year starts on 1 January and ends on 31 December. Monetary unit used in accounting is Vietnamese Dong (VND).

4. Foreign currency transactions and translation

The Bank maintains its accounting system and records all transactions in original currencies. Monetary assets and liabilities denominated in foreign currencies at year-end are revalued into VND at ruling exchange rates at the balance sheet date. Income and expenses arising in foreign currencies during the year are converted into VND at ruling exchange rate of the transaction date via foreign currency trading transactions. Exchange differences arising from foreign currencies trading accounts are recognized in the statement of income and retained earnings. Exchange differences arising from revaluation of monetary assets and liabilities denominated in foreign currencies at the balance sheet date are recognized in the related items in the balance sheet.

5. Held-to-maturity securities

Held-to-maturity securities are those which carry fixed or determinable payments and have fixed maturities and which the Bank has the intention and ability to hold to maturity. The Bank recognized those securities at cost plus accrued interest income and minus interest awaiting for allocation. Premium or discount (if any) is recognized in the book value of the investment. Interest is accrued or allocated on straight-line method. Held-to-maturity investments are subject to review for provision when market value is lower than book value. Any provisions for diminution in value of these securities are recognized in the statement of income.

6. Available-for-sale securities

Available-for-sale securities are those intended to be held for an indefinite period of time, which may be sold in response to demand of liquidation or changes in interest rates, exchange rates or their prices. The Bank recognized those securities at cost plus accrued interest income and minus interest awaiting for allocation. Premium or discount (if any) is recognized in the book value of the investment. Interest is accrued or allocated on straight-line method. These securities are periodically valued based on market value. Provision is made when market price is lower than book value. Any provisions for diminution in value of these securities incurred are recognized as expenses in the statement of income.

7. Trading securities

Trading securities are those held for trading and are acquired principally for the purpose of selling in the short-term or if so designated by the Management. They were recognized at cost at transaction date and sustained in next accounting periods. However, the Bank keeps track of their market value and makes provision when market value is lower than book value. In case market price cannot be measured reliably, their provisions are made based on estimated losses (if any). Gains or losses from disposal of trading securities are recorded on net basis.

8. Loan to customers

Short-term loans are those with lending period of up to 1 year, medium-term loans and financial leases to customers are those with lending period of over 1 year to 5 years and long term loans and financial leases are those with lending period of over 5 years.



Loan classification and provision for losses are made in accordance with Decision No. 493/2005/QĐ-NHNN dated 22 April 2005 and Decision No. 18/2007/QĐ-NHNN dated 25 April 2007 of the Governor of the State Bank of Vietnam. They are classified into 5 groups based on customers’ solvency in foreseeable future and qualitative factors as follows:

Group 1: Current

• Undue debts which, according to the Group’s assessment, could be fully recovered, both principal and interest, when they fall due;

• Debts which are overdue for less than 10 days and according to the Group’s assessment, could be fully recovered, both overdue principal and interest in accordance with the remaining payment schedule.

Group 2: Special mentioned

• Debts which are overdue from 10 days to 90 days; • Debts which are rescheduled term in the first time; • Rescheduled debts which are in due within the rescheduled payment term.

Group 3: Sub-standard

• Debts which are overdue from 91 days to 180 days; • First-time rescheduled debts, except for debts which are classified in Group 2; • Debts of which interest was waived or reduced because customer was not able to fully repay interest

in accordance with the payment schedule.

Group 4: Doubtful • Debts which are overdue from 181 days to 360 days; • First-time rescheduled debts which are overdue for less than 90 days within the rescheduled payment

term; • Second-time rescheduled debts.

Group 5: Loss

• Debts which are overdue for more than 360 days; • First-time rescheduled debts which are overdue for more than 90 days within the rescheduled

payment term; • Second-time rescheduled debts which are overdue within the second-time rescheduled payment

term; • Debts which are rescheduled for 3 times or more, including in due within rescheduled payment term; • Frozen debts and debts which are awaiting resolution.

In accordance with Decision No. 493/2005/QĐ-NHNN dated 22 April 2005 and Decision No. 18/2007/QĐ-NHNN dated 25 April 2007 of the Governor of the State Bank of Vietnam, the Bank classified overdue debts to the group of lower risk when the Bank considered that loan and interest could be taken back adequately and causes of overdue loans overcome were documented. The Bank actively classifies loans into groups of loans with higher risk corresponding with their level of risk in the following situations:

• There are indicators of adverse impacts effecting on customer’s business environment and sector ; or • Financial indicators or solvency of a customer continuously worsen; or



• Debtor doesn’t provide sufficiently, timely and fairly financial information according to the Bank’s requirement for assessing solvency.

Provision for credit losses: The determination of specific provision for credit losses is calculated based on rates applied to each group of debts as follows:

Group Categories Provision rates 1 Current 0% 2 Special mentioned 5% 3 Sub-standard 20% 4 Doubtful 50% 5 Loss 100%

The specific provision is calculated based on loan balance of each borrower as at 30 November less value of collateral assets. The value of these assets is calculated based on market value less estimated liquidation expenses before being discounted at predetermined percentage for each kind of collateral assets. In accordance with the Decision 493/2005/QD-NHNN dated 22 April 2005, a general provision is also required and should be equal to at least 0.75% of total balance of loans and financial leases to customers as at 30 November, and excluding the total balance of loans and finance leases to customers which are classified as loss group. This level of the general provision is required to be achieved within 5 years from the effective date of the Decision 493/2005/QD-NHNN.

9. Fixed assets

Fixed assets are stated at historical cost less accumulated depreciation. Fixed assets comprise all costs to bring them at their present location and condition to use. Depreciation of tangible fixed assets and intangible assets is calculated on straight-line method during their estimated useful lives as follows:

- Buildings 10 - 20 years - Machines and equipments 03 - 05 years - Motor vehicles 06 - 10 years - Software and management equipments 03 - 08 years

Definite term land use rights are amortized according to land use right certificates and based on straight line method. Indefinite term land use rights are recorded under historical cost and are not depreciated.

Gains and losses on disposals are determined by comparing net disposal proceeds with the carrying amount and are recognised as income or expense in the income statement.

10. Cash and cash equivalents

On the cash flow statement, cash and cash equivalents comprise cash, precious metals and stone, deposits with the State Bank of Vietnam, demand deposits and term deposits with other banks with maturity of 90 days or less.

11. Derivative financial instruments



Derivatives are recorded on the balance sheet at contract value on transaction date and then revalued at their fair values. Gains or losses from realization of derivatives are recognized in the income statement. Unrealized gains or losses are recorded into the balance sheet’s foreign exchange difference reserves and transferred to the income statement.

12. Recognition of interest and similar income and expense

Interest income and expense are recognised in the income statement on accrual basis.

13. Recognition of fees and commission income The Bank earns fees for services provided to customers, which can be divided into the following two categories: • Fees earned from services provided over a certain period of time: Fees earned for the provision of

services over a period of time are accrued over that period. They include management fees, custodian fees, commission income, credit related fees, asset management fees, portfolio fees, advisory fees and other fees.

• Fees from providing other services: Fees earned for providing services of negotiating or participating in negotiation with third-party such as acquisition arrangements for securities and enterprises completed as well as portion of fees corresponding to finished steps are recognised in the income statement.

14. Cash, precious metals and stones

31/03/2009 01/01/2009VND VND

Cash in VND 76,373,681,135 47,357,350,394 Cash in foreign currencies 26,800,026,648 20,121,451,542 Total 103,173,707,783 67,478,801,936

15. Deposits with the State Bank of Vietnam

31/03/2009 01/01/2009VND VND

Demand deposits 90,215,725,197 216,116,747,098 Total 90,215,725,197 216,116,747,098

16. Deposits with and loans to other credit institutions 31/03/2009 01/01/2009

VND VNDDemand deposits 46,998,205,017 34,698,032,363 - In VND 6,785,887,613 6,120,404,377 - In foreign currencies, gold 40,212,317,404 28,577,627,986 Term deposits 2,379,320,200,000 2,911,277,000,000 - In VND 2,021,500,000,000 1,902,800,000,000 - In foreign currencies, gold 357,820,200,000 1,008,477,000,000 Total 2,426,318,405,017 2,945,975,032,363

17. Trading securities



a. Details of trading securities 31/03/2009 01/01/2009

VND VNDDebt securities 474,839,440,889 474,839,440,889 - Government securities 170,351,200,000 170,351,200,000 - Debt securities issued by local credit institutions 304,488,240,889 304,488,240,889

Equity securities 19,859,340,000 19,859,340,000 - Equity securities issued by local credit institutions 10,440,000,000 10,440,000,000 - Equity securities issued by local economic entities 9,419,340,000 9,419,340,000

Provision for impairment losses (14,009,298,000) (14,167,588,000)

Total 480,689,482,889 480,531,192,889

b. Note to listing situation of trading securities 31/03/2009 01/01/2009

VND VNDDebt securities: 474,839,440,889 474,839,440,889 - Listed - - - Unlisted 474,839,440,889 474,839,440,889

Equity securities: 19,859,340,000 19,859,340,000 - Listed 9,419,340,000 9,419,340,000 - Unlisted 10,440,000,000 10,440,000,000 Total 494,698,780,889 494,698,780,889 18. Loans to customers

31/03/2009 01/01/2009VND VND

Loans to local economic entities and individual 5,860,938,653,705 6,231,779,297,805 Loan to customers funded by trust and other funds 23,780,730,000 20,920,000,000 Total 5,884,719,383,705 6,252,699,297,805 - Analysis by loan group:

31/03/2009 01/01/2009

VND VNDCurrent 5,527,169,053,260 5,968,921,305,903 Special mention 238,205,352,620 165,824,391,313 Substandard 46,567,156,981 49,695,627,710 Doubtful 59,867,082,979 56,612,136,354 Loss 12,910,737,865 11,645,836,525 Total 5,884,719,383,705 6,252,699,297,805



- Analysis by term:

31/03/2009 01/01/2009

VND VNDShort-term loans 3,633,492,641,945 3,892,066,886,032 Medium-term loans 1,454,515,595,125 1,551,912,566,417 Long-term loans 796,711,146,635 808,719,845,356 Total 5,884,719,383,705 6,252,699,297,805

18. Provision for credit losses Unit: VND

General provision Specific provisionCurrent periodBalances at the beginning 13,692,316,651 11,848,623,143 Additional provision in the period/ (Amountsrecovered during the period)

- -

Utilisation of provision for uncollectible loanswritten off

- -

Other Adjustments - - Balances at the ending 13,692,316,651 11,848,623,143

Last periodBalances at the beginning 5,336,385,224 2,746,771,958 Additional provision in the period/ (Amountsrecovered during the period)

8,355,931,427 9,101,851,185

Utilisation of provision for uncollectible loanswritten off

- -

Other Adjustments - - Balances at the ending 13,692,316,651 11,848,623,143

19. Investment securities

a. Available-for-sale securities 31/03/2009 01/01/2009

VND VNDDebt securities issued by local credit institutions - - Debt securities issued by local economic entities 955,000,000,000 955,000,000,000 Provision for impairment losses - - Total 955,000,000,000 955,000,000,000

b. Held-to-maturity securities 31/03/2009 01/01/2009

VND VND- Government securities 500,000,000 500,000,000 - Debt securities issued by local credit institutions 900,000,000,000 1,000,000,000,000 Total 900,500,000,000 1,000,500,000,000



20. Capital contribution and other long term investments

- Analysis by type of investment:

31/03/2009 01/01/2009VND VND

Investments in subsidiary company - - Capital contribution in joint-ventures - - Investments in associate company - - Other long-term investments 748,159,000,000 748,159,000,000 Provision for impairment losses - - Total 748,159,000,000 748,159,000,000

- The investments in other entities comprise of the following companies: Unit: VND

Cost Shareholding Rate Cost Shareholding

RateNghe An Rubber Development and Investment JS Co 600,000,000 0.80% 600,000,000 0.80%Ha Noi - Sai Gon Fund Management JS Company 5,200,000,000 10.40% 5,200,000,000 10.40%Ha Noi - Sai Gon Securities Joint Stock Company 35,000,000,000 10.00% 35,000,000,000 10.00%Phuoc Hoa Rubber Joint Stock Company 27,859,000,000 0.82% 27,859,000,000 0.82%An Viet Development Joint Stock Company 1,000,000,000 2.00% 1,000,000,000 2.00%SHB - Vinacomin Insurance JS Company 30,000,000,000 10.00% 30,000,000,000 10.00%Lilama SHB Construction Investment JS Company 11,000,000,000 11.00% 11,000,000,000 11.00%Nam Viet Financial Investment Joint Stock Company 1,500,000,000 2.14% 1,500,000,000 2.14%Son Lam Company Ltd 135,000,000,000 10.70% 135,000,000,000 10.70%Thanh Viet Investment Fund Management Company 501,000,000,000 0.10% 501,000,000,000 0.10%Total 748,159,000,000 748,159,000,000

FullnameCurrent period Previous period

Saigon - Hanoi Commercial Joint Stock Bank No 77 - Tran Hung Dao street - Hoan Kiem district - Hanoi capital - Vietnam

Financial statements for the year ended 31 December 2008

21. Tangible fixed assets - Increase and decrease of tangible fixed assets in the current period:

Unit: VND

Items Building Machinery and devices

Vehicle and transportation Office equipment Other assets Total

Historical costBalances at the beginning 42,591,390,049 12,199,481,855 35,102,080,983 21,821,317,818 1,100,366,145 112,814,636,850 Additions 427,139,656 1,802,113,266 1,570,281,489 1,607,765,076 213,328,818 5,620,628,305 - Purchasing 427,139,656 1,802,113,266 1,570,281,489 1,607,765,076 213,328,818 5,620,628,305 - From construction in progress - - - - - - - Others - - - - - - Decrease - - - 159,229,847 - 159,229,847 - Transfer investment property - - - - - - - Disposals - - - - - - - Others - - - 159,229,847 - 159,229,847 Balances at the ending 43,018,529,705 14,001,595,121 36,672,362,472 23,269,853,047 1,313,694,963 118,276,035,308 Accumulated depreciationBalances at the beginning 3,638,637,324 2,266,767,149 4,575,743,092 5,007,719,387 158,992,243 15,647,859,195 Additions 1,002,981,225 604,924,696 379,351,554 567,958,291 548,911,730 3,104,127,496 - Depreciation 1,002,981,225 604,924,696 379,351,554 567,958,291 548,911,730 3,104,127,496 - Others - - - - - - Decrease - - - 16,934,200 - 16,934,200 - Transfer investment property - - - - - - - Disposals - - - - - - - Others - - - 16,934,200 - 16,934,200 Balances at the ending 4,641,618,549 2,871,691,845 4,955,094,646 5,558,743,478 707,903,973 18,735,052,491 Net book amountAt the beginning 38,952,752,725 9,932,714,706 30,526,337,891 16,813,598,431 941,373,902 97,166,777,655 At the ending 38,376,911,156 11,129,903,276 31,717,267,826 17,711,109,569 605,790,990 99,540,982,817

Saigon - Hanoi Commercial Joint Stock Bank No 77 - Tran Hung Dao street - Hoan Kiem district - Hanoi capital - Vietnam

Financial statements for the year ended 31 December 2008

- Increase and decrease of tangible fixed assets in the previous period: Unit: VND

Items Building Machinery and devices

Vehicle and transportation Office equipment Other assets Total

Historical costBalances at the beginning 15,984,756,655 7,857,711,368 19,775,585,597 12,616,181,171 283,741,701 56,517,976,492 Additions 26,606,633,394 4,341,770,487 15,326,495,386 9,205,136,647 816,624,444 56,296,660,358 - Purchasing 26,606,633,394 4,341,770,487 15,326,495,386 9,193,970,381 816,624,444 56,285,494,092 - From construction in progress - - - - - - - Others - - - 11,166,266 - 11,166,266 Decrease - - - - - - - Transfer investment property - - - - - - - Disposals - - - - - - - Others - - - - - - Balances at the ending 42,591,390,049 12,199,481,855 35,102,080,983 21,821,317,818 1,100,366,145 112,814,636,850 Accumulated depreciationBalances at the beginning 1,849,032,286 817,308,037 1,917,212,842 1,834,253,816 49,703,234 6,467,510,215 Additions 1,789,605,038 1,449,459,112 2,658,530,250 3,173,465,571 109,289,009 9,180,348,980 - Depreciation 1,789,605,038 1,449,459,112 2,658,530,250 3,173,465,571 109,289,009 9,180,348,980 - Others - - - - - - Decrease - - - - - - - Transfer investment property - - - - - - - Disposals - - - - - - - Others - - - - - - Balances at the ending 3,638,637,324 2,266,767,149 4,575,743,092 5,007,719,387 158,992,243 15,647,859,195 Net book amountAt the beginning 14,135,724,369 7,040,403,331 17,858,372,755 10,781,927,355 234,038,467 50,050,466,277 At the ending 38,952,752,725 9,932,714,706 30,526,337,891 16,813,598,431 941,373,902 97,166,777,655


Financial statementsfor the year ended 31 December 2008

22. Intangible fixed assets - Increase and decrease of intangible fixed assets in the current period:

Unit: VND Items Land use rights Software Other assets TotalHistorical costBalances at the beginning 705,385,289,421 3,136,352,250 20,000,000,000 728,521,641,671 Additions - 209,760,000 104,880,000 314,640,000 - Purchasing - 209,760,000 104,880,000 314,640,000 - From internal entity - - - - - From business unify - - - - - Others - - - - Decrease - - - - - Disposals - - - - - Others - - - - Balances at the ending 705,385,289,421 3,346,112,250 20,104,880,000 728,836,281,671 Accumulated depreciationBalances at the beginning 164,280,000 533,119,191 1,000,000,000 1,697,399,191 Additions 23,654,785 101,695,869 85,744,928 211,095,582 - Depreciation 23,654,785 101,695,869 85,744,928 211,095,582 - Others - - - - Decrease - - - - - Disposals - - - - - Others - - - - Balances at the ending 187,934,785 634,815,060 1,085,744,928 1,908,494,773 Net book amountAt the beginning 705,221,009,421 2,603,233,059 19,000,000,000 726,824,242,480 At the ending 705,197,354,636 2,711,297,190 19,019,135,072 726,927,786,898

Increase and decrease of intangible fixed assets in the previous period: Unit: VND

Items Land use rights Software Other assets TotalHistorical costBalances at the beginning 291,842,765,400 2,405,683,000 - 294,248,448,400 Additions 413,542,524,021 730,669,250 20,000,000,000 434,273,193,271 - Purchasing 413,542,524,021 730,669,250 20,000,000,000 434,273,193,271 - From internal entity - - - - - From business unify - - - - - Others - - - - Decrease - - - - - Disposals - - Others - Balances at the ending 705,385,289,421 3,136,352,250 20,000,000,000 728,521,641,671 Accumulated depreciationBalances at the beginning 6,500,000 343,462,376 - 349,962,376 Additions 157,780,000 189,656,815 1,000,000,000 1,347,436,815 - Depreciation 157,780,000 189,656,815 1,000,000,000 1,347,436,815 - Others - - - - Decrease - - - - - Disposals - - - - - Others - - - - Balances at the ending 164,280,000 533,119,191 1,000,000,000 1,697,399,191 Net book amountAt the beginning 291,836,265,400 2,062,220,624 - 293,898,486,024 At the ending 705,221,009,421 2,603,233,059 19,000,000,000 726,824,242,480



23. Other assets Unit: VND

31/03/2009 01/01/2009VND VND

Construction in progress 7,151,645,550 7,998,889,115 Accounts Receivable (*) 170,202,671,828 142,638,626,052 Provision for impairment losses - - Other assets 901,393,234,432 641,193,181,488 Total 1,078,747,551,810 791,830,696,655

(*): Excluding deferred income tax assets and internal receivables. 24. Deposits and borrowings from other credit institutions - Deposits from customers

31/03/2009 01/01/2009VND VND

Current deposits 7,653,905,447 1,473,134,268 - In VND 7,642,217,188 1,376,245,916 - In gold and foreign currencies 11,688,259 96,888,352 Term deposits 768,241,640,000 2,233,611,040,000 - In VND 753,644,000,000 2,127,844,000,000 - In gold and foreign currencies 14,597,640,000 105,767,040,000 Total 775,895,545,447 2,235,084,174,268

- Analysis by type and term

31/03/2009 01/01/2009VND VND

Current deposits 2,851,265,384,354 2,990,147,994,088 - Current deposits in VND 2,760,067,933,689 2,817,985,592,255 - Current deposits in gold and foreign currencies 91,197,450,665 172,162,401,833 Term deposits 7,343,813,545,734 6,506,161,437,627 - Term deposits in VND 6,815,337,061,774 5,443,334,765,069 - Term deposits in gold and foreign currencies 528,476,483,960 1,062,826,672,558 Specialized deposits - - Security deposits 12,649,864,988 11,832,818,874 Total 10,207,728,795,076 9,508,142,250,589

25. Capital financed, entrusted for investment, lent to credit institutions, which is subject to risk

31/03/2009 01/01/2009

VND VNDTrust funds and other borrowing funds in VND 24,209,670,000 24,649,670,000 Trust funds and other borrowing funds in gold and foreign currencies 838,139,878 823,262,213 Total 25,047,809,878 25,472,932,213

26. Other liabilities



31/03/2009 01/01/2009VND VND

Accounts internal payable and similar debts 2,379,338,650 27,163,549,777 Accounts external payable and similar debts 100,402,575,356 185,407,441,936 Provision for impairment losses: 432,509,353 432,509,353 - Provision for commitment 432,509,353 432,509,353 Total 103,214,423,359 213,003,501,066

27. Shareholders' equity and reserves

Unit: Million VND

Chartered capital

Share premium

Treasury shares

Foreign ex revaluation

reserves

Investment & development

reserves

Financial reserves

Reserves for supplement

capital

Other reserves

Retained earnings

undistributedTotal

Balances at the beginning 2,000,000 48,000 (2,351) - 13 32,362 16,701 4,418 167,512 2,266,655 Additions - - - 8,454 - - - - 82,447 90,901 Capital increase in the period - - - 8,454 - - - - 80,874 89,328 Profit increase in the period - - - - - - - - 1,573 1,573 Others - - - - - - - - - - Decrease - - - 628 - - - 1,392 - 2,020 Utilization in the period - - - - - - - 1,392 - 1,392 Others - - - 628 - - - - - 628 Balances at the ending 2,000,000 48,000 (2,351) 7,826 13 32,362 16,701 3,026 249,959 2,355,536

28. Interest and similar income

First Quarter 2009 2008VND VND

Interest and similar income 340,842,397,628 1,288,207,791,338 Interest from placement with other banks and loans 267,522,455,227 1,175,747,782,362 Interest from trading and investment debt securities 73,319,942,401 112,460,008,976 Interest from finance leases - - Income from other credit activities 2,143,983,905 5,162,390,736 Total 342,986,381,533 1,293,370,182,074

29. Interest expense and similar expenses


Interest expenses from deposits 230,221,084,100 1,128,156,527,604 Interest expenses from borrowings 630,171,060 4,196,195,877 Expenses from other credit activities 9,479,961 217,723,865 Total 230,860,735,121 1,132,570,447,346



30. Net profit/loss from services


Fees and commission income from 1,663,142,517 14,397,990,394 - Settlement services 1,130,414,564 3,421,829,375 - Guarantee activities 120,370,138 1,758,079,632 - Treasury activities 29,578,845 394,291,651 - Agent services 40,470,031 106,044,326 - Other fees and commission 342,308,939 8,717,745,410 Fees and commission expense from 1,411,219,266 6,986,096,769 - Settlement services 541,361,293 2,890,652,564 - Treasury activities 183,693,417 547,320,941 - Other direct fees and commission expenses 686,164,556 3,548,123,264 Net fees and commission income 251,923,251 7,411,893,625

31. Net profit/loss from dealing in foreign currencies


Income from dealing in foreign currencies 6,045,054,323 32,378,014,361 - Income from spot trading in foreign currencies 6,023,099,619 31,370,533,356 - Income from derivative financial instruments 21,954,704 1,007,481,005 Expense from dealing in foreign currencies 926,071,747 6,355,121,772 - Expense from spot trading in foreign currencies 891,071,747 5,067,143,607 - Expense from derivative financial instruments 35,000,000 1,287,978,165 Net gain from dealing in foreign currencies and gold 5,118,982,576 26,022,892,589 32. Net profit/loss from trading of trading securities


Income from trading of held-for-trading securities - - Expense from trading of held-for-trading securities - - Expense from provision for impairment losses (211,699,724) (14,167,588,000)Net gain from trading of held-for-trading securities (211,699,724) (14,167,588,000)

33. Income from capital contribution, share purchase First Quarter 2009 2008

VND VNDDividends income - 2,964,659,000 - From equity securities for trading - 2,964,659,000 Total - 2,964,659,000



34. Net profit/loss from other operating activities


Income from other activities 4,756,717,179 297,054,985,200 - Income from other activities 4,756,717,179 297,054,985,200 Expense from other activities 65,604,580 2,299,657,181 - Expense from other activities 65,604,580 2,299,657,181 Net gain from other activities 4,691,112,599 294,755,328,019

35. Operating expenses First Quarter 2009 2008

VND VNDTax, duties and fees 945,395,595 9,268,511,020 Expense for employees 21,589,167,409 85,397,886,160 In which: - Salaries and allowances 18,496,151,263 75,291,327,710 - Social and health insurance, trade union fees 1,622,195,940 4,035,675,057 - Pension 1,000,000 465,519,131 - Social work 3,100,000 - Expense for fixed assets 9,517,769,326 28,519,997,824 In which: Depreciation and amortisation 10,527,785,795 10,525,808,172 Administration expense 7,745,289,212 63,361,809,909 In which: - Business trip expenses 389,916,033 2,709,977,534 - Expense for union activities of the Bank 4,417,000 247,700,000 Insurance for assets of the Bank and customer deposits 1,304,338,887 3,987,803,901 Provision for impairment losses (excluding provision forcredit losses and impairment of securities)

- -

Other expenses - - Total 41,101,960,429 190,536,008,814

36. Cash and cash equivalents First Quarter 2009 2008

VND VNDCash and cash equivalents on hand 103,173,707,783 67,478,801,936 Cash and balances with State Bank of Vietnam 90,215,725,197 216,116,747,098

Placements with credit institutions 1,964,298,405,017 2,490,921,405,450 Total 2,157,687,837,997 2,774,516,954,484




saigon - hanoi commercial joint stock bank - fpts - home€¦ · · 2009-08-20intangible fixed...

Documents