annual report

Transcription

annual report

ANNUAL REPORT
2012
TABLE OF CONTENTS
1.MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS
2.PG BANK INTRODUCTION
04
06
- OVERVIEW
08
- AWARDS AND RECOGNITION
09
- CORPORATE GOVERNANCE
10
- SHAREHOLDERS INFORMATION
16
3.BUSINESS PERFORMANCE REPORT
17
- MILESTONES IN 2012
18
- OPERATIONAL HIGHLIGHTS
20
- FUND MOBILIZATION
21
- FUND UTILIZATION
21
CREDIT ACTIVITIES
21
CAPITAL MANAGEMENT
23
FOREIGN EXCHANGE TRADING
23
- BANKING SERVICES
23
REMITTANCE AND TRADE FINANCE
23
CARD SERVICE
24
- BANKING MANAGEMENT
24
RISK MANAGEMENT
24
HUMAN RESOURCES MANAGEMENT
24
BRAND AND NETWORK DEVELOPMENT
25
INFORMATION TECHNOLOGY
25
- CORPORATE SOCIAL RESPONSIBILITY
26
4.BUSINESS PLAN
25
5.FINANCIAL STATEMENTS
28
6.OPERATIONAL NETWORK
67
Ladies and gentlemen,
The year 2012 witnessed struggles
that left damaging effects on the
economy of Vietnam in general
and on the performance of the
Finance and Banking industry in
particular. Weakened demand
and increased inventory adversely
affected corporate performance,
leading to rising non-performing
loans and threatening the stability
of the banking system. Lending
interest rates were lowered but
credit growth was still lower than
expected. Meanwhile, the policies
introduced by the Government
to curb inflation and stabilize
macroeconomics have had limited
effectiveness, as low inflation
(6.81%) was offset by a 10-year low
in GDP growth (5.03%).
Operating in such a competitive
environment, the young PG
Bank has been faced with
enormous difficulties. Among
these is fierce competition
from other commercial banks.
More than ever, the proactive
attitude and willingness to work
hard to overcome challenges characteristics that define PG Bank
staff - have been put to great use.
In 2012, despite financial results
not being as good as expected,
the Bank managed to preserve
operative stability, and satisfy
liquidity ratio requirements even
in the market’s most constrained
time.
Ladies and Gentlemen, the year
2012 marked the significant
event of the Bank successfully
increasing chartered capital to
VND3,000 billion. PG Bank is now
able to provide most commercial
bank services, while maintaining
the leading position in foreign
exchanges, card and derivative
transactions. In 2012, Retail
MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS
5
Teller was applied in the whole
system, reducing transaction
times and cost and further
enhancing the professionalism
of service at transaction offices.
The Mobile Banking service,
with its user-friendly interface
and superior features, has
also been rolled out, allowing
customers to use banking services
regardless of their locations. In
addition to facility innovation
and enhancement, the Bank
also focused on improving teller
capability through the Enhancing
quality of services at transaction
offices program, with emphasis
on frequent assessment of tellers’
professional skills.
In 2012, PG Bank also engaged
in social activities such as the
Terry Fox Run for Children 2012,
Petrolimex Group’s Blood Drive
Day, and sponsoring a children’s
painting exhibition of Net ve Mam
sang. These activities have played
an important role in promoting PG
Bank in the community.
of the Board of Management and
every member of PG Bank, the
Bank will only continue to grow
and get stronger.
The year 2013 remains a
challenging one for the
Vietnamese banking system. To
overcome the challenges ahead,
PG Bank aims to: maintain focus
on sustainable growth achieved
through enhanced service quality;
exploit competitive advantages by
utilizing the potential of strategic
shareholders, and continue
to build on growth rates and
business efficiency.
On behalf of the PG Bank
management board, I would like
to convey my sincere thanks to
our customers and partners for
their support, our people for their
steadfastness and team spirit,
and our shareholders for their
continued faith in the Bank’s
bright future. May I wish you
and your family a very happy,
successful and prosperous new
year.
Sincerely,
Chairman of the Board of
Directors,
Bui Ngoc Bao
The tasks planned for 2013 will
require great efforts to accomplish;
however, we whole-heartedly
believe that, with the support
of our shareholders, the close
guidance of the Board of Directors,
and the determination and unity
Annual report 2012
MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS
Annual report 2012
4
MESSAGE FROM THE CHAIRMAN
OF THE BOARD OF DIRECTORS
Annual report 2012
PG BANK
INTRODUCTION
Annual report 2012
6
7
BANK NAME IN ENGLISH: PETROLIMEX GROUP COMMERCIAL JOINT STOCK BANK
NAME IN ABBREVIATION: PG BANK
TRANSACTION NAME: PETROLIMEX GROUP COMMERCIAL JOINT STOCK BANK
ESTABLISHMENT LICENSE: NO. 0045/NH-GP ISSUED BY THE STATE BANK OF VIETNAM ON
NOVEMBER 13RD, 1993
HEAD QUATERS: 16TH, 23RD, AND 24TH FLOOR, MIPEC TOWER, 229 TAY SON STREET, NGA TU SO
WARD, DONG DA DISTRICT, HANOI, VIETNAM.
WEBSITE: WWW.PGBANK.COM.VN
EMAIL: DVKH.PGBANK@PETROLIMEX.COM.VN
TELEPHONE NUMBER: (+84) 4 6281 1298
FAX: (+84) 4 6281 1299
“A Rating” Bank in 2007,
2008, 2009, 2010
Certificate of Merit for Excellent
performance in 2009, 2010
(awarded by the State Bank of
Vietnam)
(awarded by Ministry of Industry and Trade)
SWIFT CODE: PGBLVNVX
9
Vietnam Top Trade Services in 2009
(awarded by Ministry of Industry and
Trade)
Top 100 Vietnam Top Trade
Services in 2010
(awarded by Ministry of Industry and
Trade)
Vietnam Excellent Brand in 2008, 2009, 2010,
2011, 2012
(awarded by Vietnam Economic News and Trade
promotion Agency - Ministry of Industry and Trade)
TAX CODE: 1400116233
PG BANK INTRODUCTION
FULL NAME: PETROLIMEX GROUP COMMERCIAL JOINT STOCK BANK
AWARDS AND RECOGNITION
Emulation Flag in 2011
(awarded by Chairman
of Hanoi People’s
Committee)
Certificate of Merit of Vietnam
Social Insurance in 2011
Certificate of Merit for Excellent
Organization, 2012
(awarded by Vietnam Social
Insurance)
(awarded by the Governor of the State Bank of
Vietnam)
Annual report 2012
Annual report 2012
8
OVERVIEW
ORGANIZATIONAL STRUCTURE
GENERAL MEETING OF
SHAREHOLDERS
Board of Supervisors
Internal Audit
BOARD OF DIRECTORS
Risk Management Committee
Human Resources Committee
GENERAL DIRECTOR
Personnel Committee
TREASURY
DIVISION
Foreign
Exchange
Money
Market
Commodity
Derivatives
INVESTMENT
DIVISION
Investment
Research &
Analysis
Corporate
Finance
Financial
Institutions
Investor
Relations
CORPORATE
BANKING
DIVISION
RETAIL
BANKING
DIVISION
RISK
MANAGEMENT
DIVISION
OPERATION
DIVISION
Cusomer
Relationship
Card
Business
Development
Credit Risk
Management
Remittance
Cash & Trade
Sales
Product
Management
& Development
Business
Support
Southern
Corporate
Coverage
CARD
CENTER
11
Finance
Accounting
Dispute &
Chargeback
Legal &
Compliance
Retail
Business
Development
Market Risk
Management
Retail
Partnership
Operational
Risk
Management
Treasury
Operation
Delivery
Chanel
Credit
Supervision
& Debt Collection
Contact
Center
Credit
Management
Operation
Support
& Product
Development
Trade
Service
Card Risk
Management
HR & Admin
Card
Technology
Information
Technology
Operations
Management
Marketing &
Network Development
NETWORK OF BRANCHES & TRANSACTION OFFICES
Branches
Transaction Offices
Transaction Offices
Annual report 2012
Annual report 2012
10
Asset & Liability
Management Committee
Deputy General Directors
Credit Committee
Member
Mr. Bui Ngoc Bao has a PhD in Economics. At present, he
is the Secretary of Party Committee cum Chairman of the
Board of Directors of the Vietnam National Petroleum
Group (Petrolimex) – the largest shareholder of PG Bank.
For his outstanding professional performance, he was
honorably awarded a number of merit certificates by the
Prime Minister and the Vietnamese General Confederation
of Labor. As the Chairman of Board of Directors of PG Bank,
he has made remarkable contributions to mapping out the
orientation for PG Bank’s development and provided crucial
support and guidance in operations.
Mr. Nguyen Manh Hai is a member of the Board of
Representatives of the Vietnam Active Fund (VFA); a
member of the Board of Supervisors of Petrolimex
Aviation Fuel Joint Stock Company and Head of PG Bank’s
Investment Division. He is a MBA Valedictorian graduated
from IE Business School in Madrid, Spain and holds a
Bachelor of Art in Business and Management from the
University of Reading in the United Kingdom. With more
than seven years of management experience in Finance
and Banking, he has made definite contributions to the
strong development of PG Bank’s Investment Division. In
September 2010, he was appointed as Head of Investment
Division and has been a member of the Board of Directors
since April 2011.
Member
1
2
3
4
5
6
7
8
Mr. Tran Long An is Chairman of the Board of Supervisors
of Petrolimex. Mr. An finished a High-level Political Theory
course after completing a Bachelor’s degree in Accounting.
He has held a number of important roles in member
companies of the Vietnam National Petroleum Group
such as Chief Accountant of Lubricating Oil Company and
Deputy Director of Petrolimex Petrochemical Joint Stock
Company. He has been awarded with merit certificates by
the Prime Minister, the Vietnamese General Confederation
of Labor and the Ho Chi Minh Communist Youth Union.
3.Mr. Tran Ngoc Nam
Member
Mr. Tran Ngoc Nam is currently the Deputy General Director
of Petrolimex and has been the Group’s spokesperson
since March 14, 2012. His excellent performance has been
honorably awarded with a merit certificate by the Prime
Minister. Holding a Bachelor’s degree in Accounting and
having more than 20 years’ experience in Accounting
and Finance, he has been devoted to PG Bank since its
transformation to an urban commercial joint stock bank
and has made significant contributions to establishing and
developing its banking management system.
6.Mr. Dinh Thanh Nghiep
Member
Mr. Dinh Thanh Nghiep used to be the Director of Dong
Thap Muoi Rural Join Stock Bank, the former name of PG
Bank. After the bank was transformed into an urban joint
stock bank, he became a member of the Board of Directors
cum Deputy General Director of PG Bank. He graduated
from the University of Economics in Ho Chi Minh City
and the Ho Chi Minh City University of Law. He has also
completed a High-level Political Theory training program.
7.Mr. Le Minh Quoc
Member
Mr. Le Minh Quoc holds a PhD in Physical Geology in Russia.
Currently, he is the Chairman of Member’s Council of Viet
Nang Co. Ltd.; Deputy Director of Military Petrochemical
Corporation (MIPEC), and Director of Mipecland JSC. With
many years’ experience in management, he has made a
valuable contribution to the development of PG Bank.
8.Mr. Vo Van Hiep
Independent Member
4.Mr. Nguyen Quang Dinh
Member
Mr. Nguyen Quang Dinh has nearly 20 years of experience
in Accounting and Finance. He holds a Bachelor’s degree
in Accounting from the Academy of Finance (formerly the
University of Financial and Accountancy) and Diploma in
Management from Henley Business School in the United
Kingdom. Through his prolonged commitment to PG Bank
– dating from its transformation into an urban commercial
joint stock bank - in the role of Chief Executive Officer, he
has made outstanding contributions to the Bank, leading
it in overcoming challenges and achieving great success.
With his excellent professional performance, he has been
awarded merit certificates by the Ministry of Industry and
Trade (MOIT) and the Hanoi People’s Committee.
Mr. Vo Van Hiep is Director of VI (Vietnam Investments)
Partners, LLC and member of the Board of Directors of the
Chitin Vietnam Joint Stock Company. He holds an MBA
from Harvard University – the world’s leading university
- and a Bachelor’s degree from West Point, the United
States Military Academy. He has 14 years of management
experience in Finance and Banking in large financial
institutes such as Citi Group, VN Partners and Deutsche
Bank. He was appointed to be an independent member of
the Board of Directors in April 2011.
5.Mr. Nguyen Manh Hai
Chairman
2.Mr. Tran Long An
12
Annual report 2012
1.Mr. Bui Ngoc Bao
13
Annual report 2012
BOARD OF DIRECTORS
BOARD OF MANAGEMENT
BOARD OF SUPERVISORS
1.Mr. Nguyen Quoc Trung
Chairman
Annual report 2012
14
3
2
2.Ms. Thai Thi Lan Huong
1
Member
Ms. Thai Thi Lan Huong holds a Master’s degree in Finance
and Banking from CFVG (Centre Franco-Vietnamien
de Formation à la Gestion), a Bachelor’s degree from
the Banking Academy and has more than 10 years of
experience in Finance and Banking. Before joining PG
Bank, she worked as Controller of the Credit Management
department of Chinfon Bank, Hanoi Branch. In PG Bank,
she has held many important roles including Head of the
Credit Management department, Hanoi branch and then
Head of the Internal Audit department. In April 2012, she
was appointed to be a member of PG Bank’s Board of
Supervisors.
3.Mr. Nguyen Quang Nghi
Member
Holding a Master’s degree in Accounting and a Bachelor
of Art in Finance, Mr. Nguyen Quang Nghi has more
than 10 years of experience in Finance and Accounting.
He has held many important roles in Ha Long Fisheries
Corporation and Petrolimex Thai Nguyen before joining
PG Bank. He was appointed to be member of the Board of
Supervisors in April 2010.
2
3
5
1.Mr. Nguyen Quang Dinh
Chief Executive Officer
Mr. Nguyen Quang Dinh has nearly 20 years of experience
in Accounting and Finance. He holds a Bachelor’s degree
in Accounting from the Academy of Finance (formerly the
University of Financial and Accountancy) and Diploma in
Management from Henley Business School in the United
Kingdom. Through his prolonged commitment to PG Bank
– dating from its transformation into an urban commercial
joint stock bank - in the role of Chief Executive Officer, he
has made outstanding contributions to the Bank, leading
it in overcoming challenges and achieving great success.
With his excellent professional performance, he has been
awarded merit certificates by the Ministry of Industry and
Trade (MOIT) and the Hanoi People’s Committee.
2.Mr. Nguyen Tien Dzung
Deputy CEO
In charge of Corporate Banking
Mr. Nguyen Tien Dzung holds a Master’s degree in Banking
and Finance from CFVG (Centre Franco-Vietnamien de
Formation à la Gestion) and the National Economics
University. Before joining PG Bank, Mr. Dzung gathered
10 years of management experience in large banks. His
roles included: Head of Corporate Banking of Woori Bank –
Hanoi Branch and Deputy Director of Techcombank - Hoan
Kiem Branch. In December 2009, he was appointed to be
Deputy CEO of PG Bank.
3.Mr. Nguyen Hong Duc
Deputy CEO
In charge of Financial Institutions, Human Resources &
Administration, Marketing and Network Development
Mr. Nguyen Hong Duc holds Master’s degree in Business
4
Administration from the Asia Institute of Technology (AIT)
and a Bachelor’s degree from the University of Foreign
Trade. Mr. Duc has more than 18 years of experience
in Finance and Banking and has held many important
roles including Deputy CEO of Chinfon Bank – Cambodia
Branch, Vice-Chairman & Head of Financial Institutions of
Citibank, Deputy CEO of Global Petro Commercial Joint
Stock Bank and Tien Phong Commercial Joint Stock Bank.
He was appointed to be Deputy CEO of PG Bank in May
201
4.Mr. Dinh Thanh Nghiep
Deputy CEO
In charge of the South business
Mr. Dinh Thanh Nghiep used to be the Director of Dong
Thap Muoi Rural Join Stock Bank, the former name of PG
Bank. After the bank was transformed into an urban joint
stock bank, he became a member of the Board of Directors
cum Deputy General Director of PG Bank. He graduated
from the University of Economics in Ho Chi Minh City
and the Ho Chi Minh City University of Law. He has also
completed a High-level Political Theory training program.
Mr. Nguyen Thanh To
Deputy CEO
In charge of Treasury
Holding a Master’s degree in Business Administration from
the Southern California University for Professional Studies,
California, U.S.A and a Bachelor’s degree in Economics
from the Banking Academy, Mr. Nguyen Thanh To has
more than 20 years of experience in Finance and Banking.
Before joining PG Bank, he accumulated many years
of senior management experience. His roles included:
Deputy Director of the Global Treasury Department – Joint
Stock Commercial Bank for Foreign Trade of Vietnam;
Deputy Director of the Vietnam Finance Company in Hong
Kong, and Deputy CEO of the Vinaconex - Viettel Finance
Joint Stock Company. He has also attended intensive
courses on money trading, foreign exchange and financial
market products in many countries. He was appointed to
be Deputy CEO of PG Bank in September 2010.
1
15
Annual report 2012
Since graduating from the Vietnam University of
Commerce in 1993, Mr. Trung has accumulated more than
17 years’ management experience in big companies. His
roles have included: Chief Accountant of Castrol BP Petco
Ltd.; Chief Financial Officer of PTN Chemical Co., Ltd. and
Schmidt Vietnam Co., Ltd., and Internal Supervisor of Total
Refinery and Marketing Asia. He was appointed as the
Chairman of the Board of Supervisors in September 2010.
SHAREHOLDERS INFORMATION
(Last updated on 31/12/2012)
SHAREHOLDERS STRUCTURE
Shareholders
Number of shareholders
Number of shares
% Holdings
12
151,868,173
50.6227%
1
120,000,000
40%
11
31,868,173
10.6227%
Organizations
State
Non-state
0
0
0%
Individuals
Foreign
2,572
148,131,827
49.3773%
Domestic
2,572
148,131,827
49.3773%
0
0
0%
2,584
300,000,000
100%
SHAREHOLDINGS OF THE BOARD OF DIRECTORS
Title
Number of
shares
% Holdings
16
1
Bui Ngoc Bao
Chairman
66,000
0.0220%
2
Tran Long An
Member
447,750
0.1493%
3
Tran Ngoc Nam
Member
0
0%
4
Nguyen Quang Dinh
Member cum CEO
41,289
0.0137%
5
Nguyen Manh Hai
Member cum Head of Investment
Division
18,154
0.0060%
6
Dinh Thanh Nghiep
Member cum Deputy CEO
7
Le Minh Quoc
Member
8
Vo Van Hiep
Independent Member
Total
3,076,380
1.0255%
13,971,000
4.6600%
0
0%
17,620,573
5.8765%
SHAREHOLDINGS OF THE BOARD OF MANAGEMENT
Name
Title
Number of
shares
% Holdings
1
Nguyen Quang Dinh
CEO cum Member of the BOD
41,289
0.0137%
2
Nguyen Tien Dzung
Deputy CEO
11,053
0,0036%
3
Nguyen Hong Duc
Deputy CEO
0
0%
4
Dinh Thanh Nghiep
Deputy CEO cum Member of the BOD
3,076,380
1.0255%
Nguyen Thanh To
Deputy CEO
5
Total
0
0%
3,128,722
1.0428%
SHAREHOLDINGS OF THE BOARD OF SUPERVISORS
Name
Title
Number of
shares
% Holdings
1
Nguyen Quoc Trung
Chairman
0
0%
2
Thai Thi Lan Huong
Member
13,703
0.0046%
3
Nguyen Quang Nghi
Member
3,000
0.0010%
16,703
0.0056%
Total
17
BUSINESS
PERFORMANCE
REPORT
Annual report 2012
Name
Annual report 2012
Foreign
Total
MILESTONES IN 2012
Annual report 2012
18
In August 2012, PG Bank
officially raised its charter
capital to VND3,000 billion.
This action affirmed PG Bank’s
growing financial capacity
and allowed the Bank to
widen its operational network
and modernize its technical
and IT infrastructure in order
to meet customers’ growing
demands.
Ranked in Top 500 largest
Vietnamese enterprises
and received the honorable
“Vietnam Excellent
Brand” award for the fifth
consecutive year
In 2012, PG Bank was
ranked by VNR500 in the
Top 500 largest Vietnamese
enterprises in terms of
revenue, also ranking in
the Top 500 largest private
Vietnamese enterprises.
The year 2012 was also
the fifth consecutive year
PG Bank was awarded the
“Vietnam Excellent Brand”, for
companies operating in the
Finance and Banking industry.
3
Maintained the leading
position in forex trading;
Improved quality of
remittance service
In 2012, PG Bank maintained
its leading position in forex
trading on the interbank
market. Total forex trading
volume was USD10,768
million, with VND44.3 billion
profit.
Besides, centralizing swift
message processes at
Head Office significantly
improved the quality of PG
Bank’s remittance service.
BanknetVN’s payment and
online transfer gateways were
also integrated into PG Bank’s
core banking system, which
enabled immediate interbank
remittance transactions.
4
5
Increased card trading
activities
Launched the mobile
banking service
The year 2012 marked
a breakthrough in the
development of PG Bank’s
card trading activities. Many
projects related to card
services were completed
and successfully launched,
effectively increasing the
competitiveness of the Bank’s
card trading activities.
March 2012 saw the launch
of the Bank’s mobile banking
service. Its simple and
user-friendly interface, and
fast and stable processing
speed will enable customers
to reap the full benefits of the
internet banking service.
The Fleet card (F-card),
which was customized for
transportation enterprises
or enterprises that own
many cars, has significantly
assisted these organizations
in managing and controlling
petrol expenses.
The VISA card project was
also completed in 2012 and
is expected to be rolled out
in early 2013 to better meet
customers’ shopping and
travelling needs.
Aiming to continuously
improve the quality of card
services, as well as increase
utilities and convenience
for Flexicard users, PG Bank
increased the cash withdrawal
limit at ATMs to VND4 million
per transaction in August
2012
6
Launched a number of
promotion programs to
support fund mobilization
In 2012, many promotion
programs, such as European
Travelling, Lucky Hour in
Autumn, and Creating Online
Savings Account - Receiving
Gifts, with their popular
prizes, received positive
feedback from customers,
and effectively supported the
Bank’s capital mobilization
activities. Each promotion
program helped the Bank
mobilize about VND1,000 to
VND2,000 billion of customer
deposits on average.
7
8
Allowed to increase credit
balance to 15%
Actively participated in
social activities
In 2012, the State Bank of
Vietnam classified the whole
banking system into four
groups, based on operations
and potential credit growth.
Each group was assigned a
specific credit growth rate of
either 0%, 8%, 15%, or 17%.
PG Bank was placed in the
2nd group, which is allowed
to increase credit balance to
15%.
PG Bank has continued
to demonstrate its strong
commitment to local
communities with charitable
activities like the Terry
Fox Run for Children 2012
program and the sponsorship
of a children’s painting
exhibition. In 2012, the Bank
also awarded scholarships
to talented students in
difficult circumstances in
Hanoi universities, as well as
visited and gave presents to
underprivileged students in
the Hoa Binh province and
other provinces where PG
Bank’s transaction offices are
located. In addition, PG Bank
actively took part in other
social activities, such as giving
gifts to disabled war veterans
and martyrs’ families on War
Veterans and Martyrs’ Day,
and participating in Petrolimex
Group’s Blood Drive Day. In the
future, the Bank is dedicated
to further increasing its social
commitment and contributing
to the development of our
community.
BUSINESS PERFORMANCE REPORT
Successfully increased
charter capital to VND3,000
billion
2
19
Annual report 2012
1
OPERATIONAL HIGHLIGHTS
FUND MOBILIZATION
2008
2009
2010
2011
2012
Total Assets
6,184
10,419
16,378
17,582
19,251
Total outstanding loans
2,365
6,267
10,886
12,112
13,787
Total mobilized fund
5,051
9,092
13,995
14,802
15,858
Equity and reserves
1,024
1,082
2,172
2,591
3,194
Net interest income
139
295
517
1,096
981
Operating profit
210
432
664
1,170
1,159
Pre- tax profit
Capital adequacy ratio (CAR)
Number of employees
92
230
293
594
319
26.9%
12.9%
20.6%
16.7%
22.6%
530
876
1,149
1,375
1,441
TOTAL ASSETS
OPERATING PROFIT
Unit: VND billion
Unit: VND billion
In 2012, the State Bank of Vietnam cut deposit interest rates six times to help businesses and encourage economic growth,
lowering the interest rate to 8% per annum by the end of the year. This tightened monetary policy caused many difficulties for
banks in attracting customer deposits. In that context, PG Bank implemented a number of solutions to stabilize and expand
the funds mobilized, such as applying flexible, competitive interest rate policies and promotion programs, and launching new
product packages to meet various customer demands. Promotion programs like European Travelling, Lucky Hour in Autumn,
Creating Online Savings Account - Receiving Gifts, with their high-value gifts attracted a lot of interest and positive feedback
from customers, and effectively supported the Bank’s capital mobilization activities. Each promotion program helped the Bank
mobilize about VND1,000 to VND2,000 billion on average. Thanks to those efforts, fund mobilization has continued to render
encouraging results. The capital mobilized has been gradually increased. The key funds therein, from individual and economic
entities, have also experienced an increasing trend.
At the end of 2012, total mobilized funds reached VND15,858 billion, an increase of 7% compared to 2011, primarily due to
growth in customer deposits. By December 31, 2012, funds mobilized from individual and economic entities totaled VND12,432
billion, an increase of 13% from December 31, 2011, and contributed 78% to the total funds mobilized.
TOTAL MOBILIZED FUNDS
Unit: VND billion
12,432
From individuals and economic entities
20
1,170
19,251
1,159
11,044
From SBV and other credit institutions
Unit: VND billion
21
10,766
17,582
664
6,946
10,419
432
6,184
3,229
210
2,367
2008
2009
2010
2011
2012
2008
2009
2010
2011
2,685
TOTAL OUTSTANDING LOANS
Unit: VND billion
Unit: VND billion
3,427
2,146
2012
2008
TOTAL MOBILIZED FUND
3,758
2009
2010
2011
2012
FUND UTILIZATION
CREDIT ACTIVITIES
13,995
14,802
15,858
13,787
10,886
12,112
9,092
6,267
5,051
2,365
2008
2009
2010
2011
2012
2008
2009
2010
2011
2012
Weakened credit demand, together with cautiousness in lending activities due to concern about non-performing loans, has
slowed down the credit activities of the whole economy. In this context, PG Bank actively employed a number of flexible credit
policy to drive credit demand, such as reducing interest rate for good and familiar corporate customers or conducting many
promotional programs to attract individual customers like 90 days of preferred loans and Support for buying Honda CR-V. In the
meantime, the Bank also implemented a strict and prudent credit policy throughout the year. Credit appraisal activities as well
as disbursement are tightly controlled to ensure capital is directed to the most effective and safe destination.
The year-end total of outstanding loans increased by VND1,675 billion to VND13,787 billion in 2012 compared to 2011,
equivalent to a growth of 13.8%. In this, loans in VND accounted for VND10,419 billion, making up 75.6% of the total loans. The
loan term structure was stable, with 68.5% loans being short-term loans. PG Bank continued directing its credit to high-potential
and low-risk manufacturing sectors like processing and manufacturing, agriculture, forestry and fishery.
Annual report 2012
Annual report 2012
16,378
LOANS BY SECTORS
CAPITAL MANAGEMENT
19%
3%
Agriculture, forestry and fishery
Capital trading on the interbank market not only brought
big profits, but also enhanced PG Bank’s prestige in
domestic and foreign markets.
Mining
7%
Processing & Manufacturing
Construction
18%
22
Logistics
Others
Remarkably, investing in Government bonds increased
strongly in 2012. By December 31, 2012, this investment
was valued VND1,326 billion, an increase of VND204 billion
(18%) compared to 2011, and brought a profit of VND19.2
billion, reflecting significant growth compared with 2011’s
results (VND3.5 billion).
CREDIT GROWTH
Unit: VND billion
16,000
180%
165%
14,000
160%
13,787
12,112
140%
10,886
10,000
120%
100%
8,000
6,267
80%
74%
6,000
40%
2,365
23%
14%
11%
20%
0%
2008
2009
2010
FOREIGN EXCHANGE TRADING
Difficulties in the macroeconomic environment
dramatically influenced the result of foreign exchange
trading business. Total forex trading volume in 2012 was
USD10,768 million, with just VND44.3 billion profit.
Profit
1,350
2011
LOANS BY TERM
2012
25
1,326
1,300
19.2
20
1,250
15
1,200
1,150
10
1,122
5
1,050
3.5
1,000
2011
0
2012
FOREX TRADING VOLUME
Unit: USD billion
11.5
10.8
23
7.7
6.6
However, PG Bank continued to successfully accomplish
its vital role as the foreign currency provider of Petrolimex.
In 2012, PG Bank sold USD2,710 million to the Group,
accounting for 25% of total forex trading volume and 61%
of Petrolimex’s total foreign currency demand.
60%
4,000
2,000
Value
1,100
6%
12,000
Annual report 2012
At the end of 2012, interbank loans had been boosted
by VND986 billion (70%) to VND2,390 billion in 2012
compared to 2011. Net profit from this activity reached
VND26.1 billion.
Trade
36%
Unit: VND billion
4.1
2008
2009
2010
2011
2012
BANKING SERVICES
REMITTANCE AND TRADE FINANCE
In 2012, centralizing message processes at Head Office significantly improved the quality of PG Bank’s remittance service
and shortened processing times for outgoing commercial payments. In addition, PG Bank’s system archived all transaction
information, such as processing steps, code of transactions and time-to-transfer to beneficiary banks, so that tellers can check
and provide this information to customers as needed. This feature has been highly appreciated by customers.
Internet banking, with its user-friendly interface, together with a fast and accurate automatic system has also been receiving
positive feedback from customers.
11%
Customers also enjoy reduced trading times, as up to 80% of incoming credit transactions at PG Bank were processed
automatically.
21%
In 2012, PG Bank signed a number of bilateral and multilateral contracts with large commercial banks in order to diversify and
improve the performance of the Bank’s remittance service. The total number of transactions processed in 2012 reached 240,495
deals, with a total revenue of VND10.6 billion.
68%
Short term 68%
In 2012, the total value of LC issued increased by 29% compared with 2011. Inward collection reached 102 items, valued at
USD15.7 million. The number of export collections increased by a strong 33.7% in quantity and 7.9% in value compared with
2011. Total revenue from cross-border remittance and trade finance fees was VND6.6 billion.
Long term 11%
Medium term 21%
Currently, PG Bank has established a correspondent banking relationship with 314 financial institutions in over 57 countries
worldwide and is now able to fully meet demand for advising LC to countries and territories that have trade relations with
Vietnam.
Annual report 2012
11%
GOVERNMENT BONDS
In PG Bank, the task of capital management is centralized
at Head Office. This model helps balance fund mobilization
and fund utilization, ensuring the Bank’s liquidity and
optimizing the use of funds.
CARD SERVICE
Training
With the advantage of the first ATM card integrating the dual features of Petrol Prepaid and Debit, PG Bank’s Flexicard
is widely accepted at more than 2,000 Petrolimex petrol stations. Post-issuance activities have accelerated and shown
encouraging achievements.
By the end of 2012, PG Bank successfully deployed 33 training courses with 74 classes for 1,818 trainees to attend 704 hours of
training. In these, classes with internal lecturers accounted for 55% of the total number of deployed classes (41/74). All training
courses received positive feedback for their useful and highly applicable knowledge and skills. In addition, PG Bank successfully
carried out the project “Enhancing quality of services at transaction offices” for all tellers, aimed at improving professionalism and
modernizing facilities at the transaction offices in order to offer customers an experience of upmost convenience and comfort
when making transactions with PG Bank, and to create an image of a friendly and professional bank.
Annual report 2012
24
BANKING MANAGEMENT
PG Bank’s remuneration package is based on a thorough study of market policy. There are nine salary ranges in total with a wide
gap among each range, allowing a highly competitive salary for all positions. In addition to the competitive incomes, PG Bank’s
staff also enjoyed many other benefits such as annual health check-ups in modern medical centers, telephone allowances, lunch
allowances and travel allowances, such as an annual vacation in Nanning (China), Ninh Binh, and Cat Ba; gifts for employees’ on
their birthdays and on wedding occasions, and maternity support.
Trade Union activities
RISK MANAGEMENT
Fully aware of the important role of risk management in banking activities, PG Bank has constantly sought to improve its
risk management procedures, emphasize professional training and raise staff awareness of risk management to make these
activities more effective in coming years.
In 2012, the Trade Union’s role was highlighted through lots of practical and exciting activities organized for staff such as
Rewarding Talented Pupils, giving gifts for staff’s children on International Children’s Day and Christmas, organizing The PG Bank
Mid-Autumn Festival 2012. PG Bank’s Youth Union has also held very positive and powerful events through the Bank, including on
Vietnamese Women’s Day, International Women’s Day, Ho Guom Cup 2012, PG Bank Sports festival 2012 and Blood Drive Day. PG
Bank staff really came together for these team-building events and they had a very positive impact on team morale.
The structure of risk management in PG Bank is thoroughly organized and includes a Risk Management Committee; Credit
Committee; Assets and Liabilities Management Committee - ALCO; Risk Management (RM) Division - an independent unit
specializing in managing risks in the whole system; and different levels of authorities controlling and managing risks in each
business unit.
BRAND AND NETWORK DEVELOPMENT
In 2012, new procedures, regulations and instructions related to protecting and controlling risks were introduced. Both direct
and remote supervision of operational risks was enhanced, resulting in a number of crucial, timely warnings that significantly
helped minimize risks and potential losses. In addition, PG Bank has developed a self-assessment program at branches and
transaction offices nationwide, to help each business unit discover its shortcomings and the most suitable solution to solve
them.
Social media promotion activities continued to get good results. Information about new PG Bank products and services was
widely reported in newspapers; the Bank’s representative gave numerous interviews with national news publications and with
national and local television. The daily broadcasting of the “PG Bank with marketbeat” program on the Traffic channel of The
Voice of Vietnam was particularly instrumental in generating positive brand recognition among customers. The Bank’s dynamic
and professional image was further promoted through the sponsorship of the 20th anniversary of the Vietnamese banking
sector event, and of professional forums like Export 2012: Opportunities and Outlook forum and the Human Resources Bridge 2012
fair.
PG Bank also dedicated attention to training activities, so as to improve staff’s professional knowledge. In 2012, many courses
about operational risk and credit risk were held throughout the network to raise awareness of risk management among PG
Bank’s employees.
There are many difficulties and challenges awaiting the whole banking system in the coming year, especially relating to the
threat of increasing non-performing loans. Consequently, PG Bank has focused on facilitating risk management activities
from the very beginning of the year. With the determination and effort of all units, we strongly believe that risk management
activities will be enhanced effectively to ensure the sustainable development of the Bank
HUMAN RESOURCES MANAGEMENT
Aiming to produce capable personnel and competent
successors for management level suited to carrying out
the Bank’s development strategy, PG Bank places great
emphasis on staff training and development. PG Bank
strives to create favorable conditions for employees to
participate in training courses, both in Vietnam and abroad,
organized by the State Bank of Vietnam, or other reputable
training organizations. Consequently, the professional skills
of PG Bank’s human resources are improving day by day to
meet the increasing demands of the job.
Recruitment
As of December 31 2012, the total number of employees
reached 1,441 people, an increase of 66 employees
(about 5.0%) from 2011. The quality of human resources
improved, with a 6% increase in the number of staff holding
a Bachelor’s degree and above, accounting for more than
85% of total personnel.
By the end of 2012, most PG Bank transaction offices were using the new brand identity system and had been designed to look
more modern and friendly. These changes have made the PG Bank brand name more popular among customers and respected
among partners.
As of December 31, 2012, PG Bank’s operational network has 81 transaction points, including transaction offices and savings
counters, located in big cities and in the provinces throughout the country such as Hanoi, Ho Chi Minh City, Hai Phong, Da
Nang, Can Tho, Ba Ria – Vung Tau, Quang Ninh, Khanh Hoa, Dong Thap, Bac Ninh, Hai Duong, Dong Nai, Binh Duong, Long An
and An Giang.
INFORMATION TECHNOLOGY
Following its policy of pro-active investment in its facilities, in 2012, PG Bank continuously upgraded its IT platform to improve
productivity, enhance the capability of controlling operations, and add utilities for users.
QUALIFICATION
One of the more notable events was the launch of Mobile Banking service – internet banking on mobile devices in March
2012. With a simple and user-friendly interface, and fast and stable processing speed, Mobile Banking will enable customers to
reap the full benefits of the internet banking service. Mobile Banking helps customers with account transaction information
inquiries, transfers and remittance, ATM or transaction office locations, and a lot more, all from customers’ mobile devices.
31/12/2012
5%
10%
PG Bank also successfully accomplished many important IT projects during 2012, including:
Successfully deploying KPI software, which helps evaluate the exact performance of each business unit
Developing express money transfer software at Petrolimex petrol stations based on modern facilities and advanced
security technology
85%
Completing the international credit card project
Higher Education
Colleges and Vocational
School
Others
Integrating payment and an online transfer gateway of BanknetVN into PG Bank’s core banking system
Continuing to improve back-up system capacity, and safety and security of core banking will be priorities in 2013. Moreover,
the IT Department has been cooperating with the Finance and Accounting Department to enhance the core banking system,
providing more utilities like automatic expense allocation, or profit analysis so as to evaluate the performance of each business
unit more exactly.
Users of PG Bank’s debit card aren’t charged when conducting transactions at other banks’ ATMs and the card users enjoy a
number of benefits when purchasing petrol at Petrolimex Group petrol stations. Card transaction activities in 2012 were quite
busy, with 2.8 million transactions through POS, valued at VND6,668 billion. The volume of payment transactions via card
reached 1.8 million deals with a total value of VND3,006 billion.
Remuneration package
25
Annual report 2012
In 2012, PG Bank issued new 70,538 cards, of which 78% were prepaid cards, increasing the total number of outstanding
Flexicards to 663,988 cards. In addition, the Fleet card (F-card) was launched in order to promote the use of petrol cards in
enterprises that own many cars. The VISA Credit card project has been completed and is expected to be rolled out in early
2013. As of December 31, 2012, PG Bank had 62 ATMs and 4,107 POS across the country.
BUSINESS PLAN
CORPORATE SOCIAL RESPONSIBILITY
The year 2013 remains a challenging one for the Vietnamese economy in general and for the banking system in particular.
Considering both existing and potential resources, PG Bank has mapped out 2013’s business plan as follows:
To facilitate fund mobilization activity, ensuring a growth rate of mobilized funds that is superior to that of
loans balance; to enforce credit supervision and accelerate debt collection;
To expand retail banking services using Petrolimex Group’s retail network;
To keep exploiting the competitive advantages in the Bank’s leading position in forex trading and derivatives;
to increase market share beyond Petrolimex Group;
Together with study and talent encouragement activities, charitable activities also featured in the Bank’s agenda. Programs
included the purchase of paintings drawn by gifted children in difficult circumstances in the Net ve mam sang Children
Exhibition, rewarding students of distinction, participating in Petrolimex Group’s Blood Drive Day. In addition, the Bank
continued to take part in the Terry Fox Run for Children, contributing a huge number of staff to the event. PG Bank also actively
took part in the “Building New Rural Areas” scheme initiated by the government, and has committed to building several
bridges in the Dong Thap province to facilitate transportation there.
With its Towards the Community philosophy, PG Bank is dedicated to further increasing its social commitment, to promote the
development of our beloved community.
PG Bank’s staff joining
“Terry Fox Run for
Children 2012”
To improve service quality, especially at transaction offices;
To enhance PG Bank’s prestige through effective PR work;
To improve operational efficiency and cost control.
TOTAL ASSETS
TOTAL MOBILIZED FUNDS
Unit: VND billion
Unit: VND billion
27
25,000
25,000
23,197
Annual report 2012
26
To strengthen organizational structure, emphasizing the Head Office’s roles in management, supervision and
sales-boosting;
20,001
20,000
20,000
19,251
15,858
15,000
10,000
PG Bank giving presents
to underprivileged
students in Nuong Dam,
Kim Boi, Hoa Binh
15,000
2012
2013
10,000
TOTAL OUTSTANDING LOANS
PROFIT BEFORE TAX
Unit: VND billion
Unit: VND billion
17,000
500
16,000
15,133
15,000
14,000
2012
2013
451
400
319
13,787
300
13,000
12,000
200
11,000
10,000
2012
2013
100
2012
2013
Annual report 2012
PG Bank paid special attention to academic study and talent encouragement activities. In the new academic year 2012-2013,
scholarships were awarded to talented students with difficult personal circumstances in Hanoi universities such as: the
National Economics University, VNU University of Economics and Business, and the Banking Academy. The PG Bank Youth
Union visited and awarded scholarships and gifts to underprivileged students in Nuong Dam village - a poor and remote
village in the Hoa Binh province. In the future, PG Bank will continue to aid students with financial difficulties so that they can
pursue their academic careers.
In 2012, PG Bank initiated and took part in lots of social activities and programs, further to the Bank’s commitment to a better
society.
Annual report 2012
FINANCIAL
STATEMENTS
Annual report 2012
28
29
STATEMENT OF THE BOARD OF MANAGEMENT
INDEPENDENT AUDITOR’S REPORT
The Board of Management of Petrolimex Group Commercial Joint Stock Bank (“the Bank”) presents this report together with
the Bank’s financial statements for the year ended 31 December 2012.
NO: 927/Deloitte-AUDHN-RE
Deloitte VietNam Company Limited
12A Floor, Vinaconex Tower
34 Lang Ha Street, Dong Da District
Ha Noi, Viet Nam
THE BOARDS OF DIRECTORS AND MANAGEMENT
Tel: +84 4 6288 3568
The members of the Boards of Directors and Management of the Bank who held office during the year and at the date of this report
are as follows:
Annual report 2012
30
Member
Mr. Tran Long An
Member
Mr. Le Minh Quoc
Member
Mr. Tran Ngoc Nam
Member
Mr. Nguyen Quang Dinh
Member
Mr. Nguyen Manh Hai
Member
Mr. Vo Van Hiep
Member
Mr. Nguyen Trong Hieu
Member (assigned on 12 April 2012, resigned on 01
March 2013)
Ms. Nguyen Thi Thanh Ha
Member (resigned on 12 April 2012)
Mr. Nguyen Quang Dinh
BOARD OF
MANAGEMENT
To:
Mr. Dinh Thanh Nghiep
The Shareholders, the Boards of Directors and Management
Petrolimex Group Commercial Joint Stock Bank
We have audited the accompanying balance sheet of Petrolimex Group Commercial Joint Stock Bank (“the Bank”) as at 31
December 2012, the related statements of income and cash flows for the year then ended, and the notes thereto (collectively
referred to as “the financial statements”) prepared on 29 March 2013, as set out from page 5 to page 39. The accompanying
financial statements are not intended to present the financial position, results of operations and cash flows in accordance
with accounting principles and practices generally accepted in countries and jurisdictions other than Vietnam.
RESPECTIVE RESPONSIBILITIES OF THE BOARD OF MANAGEMENT AND AUDITORS
As stated in the Statement of the Board of Management on page 2 and page 3, these financial statements are the
responsibility of the Bank’s Board of Management. Our responsibility is to express an opinion on these financial statements
based on our audit.
BASIS OF OPINION
Mr. Dinh Thanh Nghiep
Deputy Chief Executive Officer
Mr. Nguyen Tien Dung
Mr. Nguyen Thanh To
Mr. Nguyen Hong Duc
Mr. Nguyen Van Hao
Chief Financial Officer cum Chief Accountant
We have conducted our audit in accordance with Vietnamese Standards on Auditing. Those standards require that we plan
and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatements. An
audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
OPINION
BOARD OF MANAGEMENT’S STATEMENT OF RESPONSIBILITY
The Board of Management of the Bank is responsible for preparing the financial statements of each year, which give a true and
fair view of the financial position of the Bank and of its business operation results and cash flow for the year. In preparing these
financial statements, the Board of Management is required to:
In our opinion, the accompanying financial statements give a true and fair view of, in all material respects, the financial
position of the Bank as at 31 December 2012 and the results of its operations and its cash flows for the year then ended in
accordance with Vietnamese Accounting Standards, Vietnamese Accounting System, Financial Reporting Regime applicable
to credit institutions under regulations of the State Bank of Vietnam and prevailing relevant regulations in Vietnam.
Select suitable accounting policies and then apply them consistently;
Make judgments and estimates that are reasonable and prudent;
State whether applicable accounting principles have been followed, subject to any material departures disclosed and
explained in the financial statements;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Bank will
continue in business; and
Design and implement an effective internal control system for the purpose of properly preparing and presenting the
financial statements so as to minimize errors and frauds.
The Board of Management is responsible for ensuring that proper accounting records are kept, which disclose, with reasonable
accuracy at any time, the financial position of the Bank and that the financial statements comply with Vietnamese Accounting
Standards, Vietnamese Accounting System, Financial Reporting Regime applicable to credit institutions as regulated by
the State Bank of Vietnam and prevailing relevant regulations in Vietnam. The Board of Management is also responsible for
safeguarding the assets of the Bank and hence for taking reasonable steps for the prevention and detection of frauds and other
irregularities.
The Board of Management confirms that the Bank has complied with the above requirements in preparing these financial
statements.
For and on behalf of the Board of Management,
Truong Anh Hung
Tran Duy Cuong
Deputy General Director
Auditor
CPA Certificate No. D.0029/KTV
CPA Certificate No.0797/KTV
For and on behalf of
DELOITTE VIETNAM COMPANY LIMITED
29 March 2013
Nguyen Quang Dinh
29 March 2013
Hanoi, S.R. Vietnam
FINANCIAL STATEMENTS
BOARD OF DIRECTORS
Chairman
www.deloitte.com/vn
31
Annual report 2012
Mr. Bui Ngoc Bao
Fax: +84 4 6288 5678
BALANCE SHEET
BALANCE SHEET
As at 31 December 2012
FORM B02/TCTD
FORM B02/TCTD
Unit: VND
Notes
NO. ITEMS
A ASSETS
5
201,123,428,291
228,299,047,661
I Borrowings from the Government and
Balances with the State Bank of Vietnam 6
416,124,061,792
748,922,723,773
7
2,389,624,369,149
1,403,467,339,527
1 Cash, gold at other credit institutions
770,708,369,149
1,403,467,339,527
2 Loans to other credit institutions
1,618,916,000,000
-
2 Borrowings from other credit institutions
IV Derivatives and other financial assets 2,229,058,279
119,715,058
III Deposits of customers
V Loans to customers
13,469,077,478,041
11,928,233,217,836
13,787,372,583,332
12,112,037,242,993
borrowings at risk of credit institutions
V Issuance of valuable papers
III Cash, gold with other credit institutions
-
400,000,000,000
Loans to customers
8
2
Provisions for loan losses 9
VI Investment securities 10 1 Available-for-sale securities
1 Deposits of other credit institutions
11 1 Other long-term investments
3,357,571,095,529
623,908,496
3,357,571,095,529
3,425,952,000,000
-
17 12,332,420,759,303
10,925,179,046,121
18 98,775,653,000
117,083,650,000
(318,295,105,291)
(183,804,025,157)
421,926,378
1,977,401,615
2,022,497,195,760
VI Other liabilities 198,670,626,091
189,294,063,267
1,988,586,661,238
2,085,817,170,899
1 Interests, fees payable
163,707,658,999
120,582,549,562
16,660,220,209
54,686,396,355
(64,827,791,634)
(63,319,975,139)
3 Other provisions 39,815,572,698
55,643,662,419
63,335,941,996
85,659,289,537
(23,520,369,298)
(30,015,627,118)
2 Provisions for diminution in value
of long-term investments
3,426,575,908,496
IV Grants, trusted Investments and other
2 Other payables and liabilities
investment securities
16
1,923,758,869,604
2 Provision for diminution in value of
VII Long-term investments credit institutions
19
20
20 18,302,746,883
Total liabilities
16,056,864,873,268
14,991,105,256,532
VII Equity and reserves
3,194,033,016,015
2,590,976,073,869
1 Equity
21 3,000,000,000,000
2,000,000,000,000
2 Reserves
22 159,092,327,325
81,430,997,127
VIIIFixed assets
259,400,035,407
267,484,183,742
3 Foreign exchange difference
1 Tangible fixed assets
4 Retained earnings
226,255,813,686 230,417,000,726
a Cost
334,914,966,754
306,690,724,227
b Accumulated depreciation
(108,659,153,068)
(76,273,723,501)
33,144,221,721
37,067,183,016
60,805,442,674
55,630,960,298
2 Intangible fixed assets 12 13 a Cost
b Accumulated armotisation
(27,661,220,953)
(18,563,777,282)
IX Other assets
549,745,016,022
927,414,244,625
14,025,117,350
21 TOTAL LIABILITIES AND OWNERS’ EQUITY -
34,940,688,690
504,422,722,299
19,250,897,889,283
17,582,081,330,401
31/12/2012 31/12/2011
236,918,395,564
652,890,671,648
I Contingent liabilities
2 Interest, fees receivable
210,889,563,716
232,016,766,494
1 L/C commitments 583,982,457,626
825,908,592,385
3 Other assets
101,937,056,742
42,506,806,483
2 Other guarantees 1,018,911,121,914
935,129,577,641
19,250,897,889,283 17,582,081,330,401
2,910,726,693,561
2,533,163,902,198
1 Receivables
14 15 TOTAL ASSETS
II Commitments
1 Other commitments Nguyen Quang Dinh
Nguyen Van Hao
Chief Financial Officer
29 March 2013
33
5,122,354,443
OFF BALANCE SHEET ITEMS
NO. ITEMS FINANCIAL STATEMENTS
Annual report 2012
1
the State Bank of Vietnam
II Deposits and borrowings from other
and loans to other credit institutions
31/12/2011
31/12/2012
B LIABILITIES AND OWNERS’ EQUITY
II
32
Notes
NO. ITEMS
31/12/2011
Annual report 2012
I Cash on hand, jewels, precious stones
31/12/2012
Unit: VND
CASH FLOW STATEMENT
FORM B03/TCTD
For the year ended 31 December 2012
FORM B04/TCTD
Unit: VND
Notes
NO. ITEMS
1 Interest income and similar income
2 Interest expense and similar expenses
2012
2011
23 2,256,955,432,049
2,817,815,430,101
24
1,276,234,123,905
1,721,454,475,295
980,721,308,144
1,096,360,954,806
I Net interest income
3 Income from services
4 Expenses from services
Annual report 2012
34
63,655,661,665
84,549,032,457
35,769,434,838
39,101,551,371
II Net profit from services
25
27,886,226,827
45,447,481,086
III Net profit from dealings in foreign currencies 26
44,371,598,407
22,294,771,652
IV Net profit from dealings in trading securities
-
579,900,000
V Net profit/(loss) from trading
investment securities
NO. ITEMS
2012
01 Interest income and similar income
2,278,082,634,827
5,845,167,374,500
02 Interest expense and similar expenses
(1,233,109,014,468)
(4,782,511,565,468)
27,886,226,827
45,447,481,086
03 Net cash receipts from services
04 Difference of cash receipts and cash
disbursements from business activities
(dealings in foreign currencies, jewels, and securities)
05 Net cash generated from other activities
(624,396,303,936)
(131,550,717,084)
(132,002,771,278)
673,829,553,531
426,470,859,074
(2,680,248,224,304)
(593,413,158,341)
Operating profit before movements in
assets and working capital
Movements in operating assets
119,552,923,210
6 Other expenses 29,176,615,203
70,857,083,432
09 Changes in trading securities
VI Net profit from other activities
65,792,873,546
48,695,839,778
10 Changes in derivatives and other financial assets
5,517,620,400
6,371,850,154
557,043,301,650
453,389,242,797
IX
29 Net profit from operating activities
before credit provision expenses
X Credit provision expenses
601,690,452,519
716,417,620,826
08 Changes in cash, gold and loans to other credit institutions
12 Changes in provision 674,718,229,165
14 Changes in borrowings from the Government and the State Bank
(400,000,000,000)
400,000,000,000
15 Changes in deposits of and borrowings from
148,131,145,555
17 Changes in issuance of valuable papers
78,983,024,364
148,131,145,555
XIV Basic earning per share 31 446,254,768,053
878
1,891
other credit institutions
16 Changes in deposits from customers (including State Treasury)
Nguyen Van Hao
29 March 2013
(excluding valuable papers in finance activities)
69,004,812,967
128,794,642,585
1,407,241,713,182
220,428,665,582
(1,555,475,237)
1,977,401,615
18 Changes in grants, trusted funds and borrowings
(18,307,997,000)
55,610,547,569
19 Changes in other operating liabilities at risk of credit institutions
(410,777,860,124)
(116,593,028,186)
20 Cash outflow from reserves
(26,837,376,992)
(15,500,000,000)
(1,387,650,853,977)
507,775,929,898
I
Nguyen Quang Dinh
41,162,591,956
618,767,816,796
78,983,024,364
239,984,673,581
1,605,240,062
(1,197,754,698,148)
Movements in operating liabilities 594,385,913,608
XIII Profit after tax (2,109,343,221)
(1,675,335,340,339)
318,967,697,945
(132,612,533,536)
309,268,546,833
XI Profit before tax
XII Corporate income tax expense
384,917,694,492
97,230,509,661
552,881,949,595
122,031,707,218
30 -
(1,652,916,000,000)
13 Changes in other operating assets 282,722,754,574
11 Changes in loans to customers 7 Current corporate income tax expense
44,305,173,197
(412,088,175,369)
94,969,488,749
VIII Operating expenses 30,461,470,973
65,792,873,546
07 Corporate income tax paid
VII Income from capital contribution, investments
78,815,725,252
06 Cash payment for employees and management activities (49,943,933,853)
28 2011
CASH FLOWS FROM OPERATING ACTIVITIES
34,444,126,845
5 Other income
27 Unit: VND
Net cash (used in)/from operating activities FINANCIAL STATEMENTS
35
Annual report 2012
INCOME STATEMENT
CASH FLOW STATEMENT (CONTINUED)
NOTES TO THE FINANCIAL STATEMENTS
FORM B04/TCTD
These notes are an integral part of and should be read in conjunction with the accompanying financial statements
Unit: VND
1. GENERAL INFORMATION
2011
2012
NO. ITEMS
FORM B 05/TCTD
Structure of ownership
CASH FLOWS FROM INVESTING ACTIVITIES
01 Acquisition of fixed assets (63,085,529,763)
(159,346,995,870)
02 Proceeds from sales, disposal of fixed assets
1,309,968,181
24,490,909
03 Cash outflows from sales, disposal of fixed assets
(2,098,929,487)
-
04 Cash outflow for investments in other entities
22,323,347,541
05 Proceeds from investments in other entities
-
(200,849,317)
35,372,978,669
Petrolimex Group Commercial Joint Stock Bank (“the Bank”), previously known as Dong Thap Muoi Rural Commercial Joint
Stock Bank, was incorporated in the Socialist Republic of Vietnam in accordance with Business License No. 0045-NHNN
dated 13 January 1993 issued by the Governor of the State Bank of Vietnam (SBV). According to Decision No. 368/QD-NHNN
dated 8 February 2007 by the SBV Governor, Dong Thap Muoi Rural Commercial Joint Stock Bank was approved to change
its name to Petrolimex Group Commercial Joint Stock Bank.
06 Proceeds from dividends, distributed retained
Annual report 2012
36
II Net cash (used in) investing activities
5,517,620,400
312,000,000
(36,033,523,128)
(123,838,375,609)
CASH FLOWS FROM FINANCING ACTIVITIES
As at 31 December 2012, the Bank had 16 branches.
01 Proceeds from issuing stocks and/or receiving capital
from shareholders
02 Dividends and profits received
III Net cash from/(used in) financing activities
1,000,000,000,000
(603,048,874,624)
(50,711,815,200)
396,951,125,376
(50,711,815,200)
(1,026,733,251,729)
333,225,739,089
V Cash and cash equivalents at the beginning of the year
2,380,689,110,961
2,047,463,371,872
VI Cash and cash equivalents at the end of the year 1,353,955,859,232
2,380,689,110,961
IV Net (decrease)/increase in cash Cash and cash equivalents at the end of the year:
31/12/2012
31/12/2011
VND
VND
Cash and cash equivalents on hand
201,123,428,291
228,299,047,661
Balances with the State Bank of Vietnam
416,124,061,792
748,922,723,773
Cash, gold at other credit institutions (under
3 months)
736,708,369,149
1,403,467,339,527
1,353,955,859,232
2,380,689,110,961
From January 2012, the Bank moved its head office to MIPEC Building – 229 Tay Son Street, Dong Da District, Hanoi. The
movement was approved by the Governor of the State Bank of Vietnam according to Decision No. 03/QD-NHNN dated 05
January 2012.
The number of employees of the Bank as at 31 December 2012 was 1,441 (31 December 2011: 1,375).
Operating industry and principal activities
Principal activities of the Bank are to provide banking services and related financial services in Vietnam.
2. ACCOUNTING CONVENTION AND FINANCIAL YEAR
Accounting convention
The accompanying financial statements, expressed in Vietnam Dong (VND), are prepared under the historical cost
convention and in accordance with Vietnamese Accounting Standards, the Vietnamese Accounting System applicable
to credit institutions as per Decision No. 479/2004/QD-NHNN dated 29 April 2004 (and its amendments) and Financial
Reporting Regime for credit institutions as per Decision No. 16/2007/QD-NHNN dated 18 April 2007 issued by the SBV
Governor and prevailing relevant regulations in Vietnam.
Financial year
The Bank’s financial year begins on 01 January and ends on 31 December.
3. ADOPTION OF NEW ACCOUNTING GUIDANCE
Nguyen Quang Dinh
Nguyen Van Hao
29 March 2013
On 21 January 2013, the State Bank of Vietnam (“SBV”) issued Circular No. 02/2013/TT-NHNN on classification of assets, levels
and method of risk provision-making, and use of provisions against credit risks in the banking activity of credit institutions
and branches of foreign banks. The Circular replaces Directive No. 05/2005/CT-NHNN dated 26 April 2005 of the State Bank
Governor on classification of debts and provision-making against credit risks under Decision No. 493/2005/QD-NHNN
dated 22 April 2005 of the Governor, Decision No. 780/QD-NHNN dated 23 April 2012 of the Governor on classification
of debts with respect to re-structured loans, Decision No. 493/2005/QD-NHNN dated 22 April 2005 of the Governor on
promulgating Regulations on classification of debts, provision-making against credit risks in the banking activity of credit
institutions, Decision No. 18/2007/QD-NHNN dated 25 April 2007 of the Governor on amending and supplementing a
number of articles of Regulations on classification of debts, setting up and use of provisions against credit risks in the
banking activity of credit institutions promulgated together with Decision No. 493/2005/QD-NHNN dated 22 April 2005.
Circular No. 02/2013/TT-NHNN will take effect from 01 June 2013. The Management of the Bank is considering the extent
of impact when adopting the Circular on the Bank’s financial statements for future accounting periods.
and capital contribution
37
Annual report 2012
earnings from long-term investments
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FORM B 05/TCTD
Annual report 2012
4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
The significant accounting policies, which have been adopted by the Bank in the preparation of these financial statements,
are as follows:
Loans
Estimates
Loans are recorded at principal less written-off amounts and provisions for doubtful debts.
The preparation of financial statements are in conformity with Vietnamese Accounting Standards, Vietnamese Accounting
System applicable to credit institutions in accordance with Decision No. 479/2004/QD-NHNN dated 29 April 2004 (and
its amendments) and Financial Reporting Regime for credit institutions as per Decision No. 16/2007/QD-NHNN dated 18
April 2007 issued by the SBV Governor and other prevailing relevant regulations requires the Bank’s management to make
estimates and assumptions that affect the reported figures of assets, liabilities and disclosures of contingent assets and
liabilities at the date of the financial statements and the reported figures of revenues and expenses during the financial
year. Although these accounting estimates are based on the management’s best knowledge, actual results may differ from
those estimates.
Provisions for doubtful debts and commitments
Financial instruments
Financial assets
On 23 April 2012, Governor of the State bank of Vietnam issued Decision 780/QD-NHNN on classification of rescheduled loan.
Decision 780/QD-NHNN came into effect from 23 April 2012 and the Bank adopted this decision in loan classification and
preparation of financial statements of 2012. Accordingly, some loans were overdue but the Bank assessed that the customers
had objective repayment capacity, thus, these loans were kept in their pre-scheduled classification group and extended.
Without adoption of the Decision, the figures of loan quality analysis and doubtful debt provision might be different from the
reported amount.
38
4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
At the date of initial recognition, financial assets are recorded at costs plus transaction cost which are directly attributable
to the acquisition of the financial assets.
Specific provisions for loans and advances as at the balance sheet date (31 December 2012) are calculated based on the
following provision rates applicable to loans as at 31 December 2012 after deducting the value of evaluated collaterals:
39
Initial recognition
Financial assets of the Bank comprise of cash on hand, balances with the State Bank of Vietnam, deposits and loans to other
credit institutions, loans to customers, investment securities, long-term investments, derivatives, other financial assets and
other receivables.
Financial liabilities
At the date of initial recognition, financial liabilities are recorded at costs net of transaction cost which are directly attributable
to the issue of the financial liabilities.
Financial liabilities of the Bank comprise of borrowings from the Government and the State Bank of Vietnam, deposits and
borrowings from other credit institutions, deposits from customers, grants, entrusted investments, borrowings at risks of
other credit institutions, issuance of valuable papers and other payables.
Re-measurement after initial recognition
Currently, there is no regulation on re-measurement of financial instruments after initial recognition.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand, demand deposits and short-term, highly liquid investments that are
readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
Derivatives
For foreign currency buying/selling forward contracts and currency swap contracts, the difference between the foreign
currencies amount in VND committed to buy/sell translated in forward exchange rate and in spot exchange rate at the
effective date of the contracts is recognized at the effective date of the contracts as assets - “Derivatives and other financial
assets” if the difference is positive or as liabilities - “Derivatives and other financial liabilities” if the difference is negative. The
difference is then credited/charged into “Profit/Loss from dealing in foreign currencies” during the terms of the contracts.
Provisions for doubtful debts and commitments are made based on the management’s estimates on doubtful loans and
commitments in accordance with Decision No. 493/2005/QD-NHNN dated 22 April 2005 and Decision No. 18/2007/QD-NHNN
dated 25 April 2007 of the State Bank of Vietnam on the amendment and supplement of some articles of the regulations on
classification of debts, provision appropriation and provision utilization to mitigate credit risk in credit institutions’ banking
activities.
Group
1
Outstanding status
Current loans
Provision rate
0%
2
Special mentioned loans
5%
3
Sub-standard loans
20%
4
Doubtful loans
50%
5
Loss
100%
General provision for loan losses, losses on guarantees is made at 0.75% of the Bank’s calculated net exposure.
Net exposure is determined by adding the total amount of loans to customers (after deducting loans that have been fully
provided for) with the total amount of guarantees as at the balance sheet date.
The provision for losses on guarantees is charged to the income statement. Reversed value is recorded as other income.
Trading securities and investment securities
Trading securities and investment securities comprise equity securities which are not held for investee controlling purposes
and debt securities issued by the Government, other credit institutions, and economics entities. Securities held by the Bank for
less than one year for the purpose of getting profit from price difference are classified as trading securities. Securities which the
Bank has intention and ability to hold to maturity are classified as held-to-maturity securities. Other securities are classified as
available-for-sale securities.
Annual report 2012
FORM B 05/TCTD
FORM B 05/TCTD
FORM B 05/TCTD
Trading securities and investment securities (Continued)
Intangible fixed assets and amortization
Trading securities and investment securities are classified in accordance with Official Letter No. 2601/NHNN-TCKT dated
14 April 2009 of the State Bank of Vietnam and are measured at historical cost. Provision for diminution in value of these
securities is made in compliance with the above Official Letter and guidance of Circular No. 228/2009/TT-BTC dated 7
December 2009 issued by the Ministry of Finance. Accordingly, for listed equity securities, the Bank determines the value
of the investments using closing prices as at the date of financial statements. When market price increases, profit will be
offset against, but not exceed the provision made previously. The difference is not recorded as income until the securities
are sold.
Intangible fixed assets comprise land use rights and computer software.
Annual report 2012
40
Entrustment and trusted funds
Entrustment activities of the Bank comprise: complete entrustment and nominated entrustment. The value of investment
from entrustment is recognized when entrustment contract is signed and entrustment funds are realized. Rights and
obligations of the trustors and the trustees on profit and profit distribution, entrustment fees, and other rights and
obligations are as specified in the signed contract.
Computer software is recognized at the purchase prices of new software that is not an integral part of the related hardware.
The computer software is amortized using the straight-line method over the period of 5 years.
Operating lease
Leases where substantially all the rewards and risks of ownership of assets remain with the leasing company are accounted
for as operating leases. Operating leases are charged to income statement on the straight-line basis as incurred over the lease
term.
Foreign currencies
Transactions arising in foreign currencies other than VND are translated into VND at exchange rates ruling at the transaction
dates. Foreign exchange differences arising from these transactions are recognized in the income statement.
Foreign exchange contracts
The Bank entered into forward foreign exchange and swap contracts to facilitate its clients to transfer, adjust or mitigate
exchange rate risk or other market risks as well as to facilitate its own business activities.
Forward contracts are commitments to either purchase or sell a specified currency on a certain date in the future at a fixed
exchange rate and will be settled in the future using this exchange rate.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.
The cost of purchased tangible fixed assets comprises its purchase price and any directly attributable costs of bringing the
assets to its working condition and location for its intended use.
Tangible fixed assets are depreciated using the straight-line method over their estimated useful lives as follows:
Computer software
2012
Years
Buildings, structures
4 - 25 Machinery, equipment
4-7
Motor vehicles 6 - 10 Management tools
4 - 5
Others5
Monetary assets and liabilities denominated in foreign currencies other than VND are retranslated into VND at the exchange
rates prevailing on the balance sheet date. Exchange differences arising from the translation of these accounts are recognized
in the income statement.
Commitments under forward foreign exchange contracts are retranslated at the exchange rates of contracts with same terms
ruling at the reporting date. Exchange differences arising from the translation are recorded in the balance sheet.
Revenue
Interest income
Income from interest payments is recorded on accrual basis for the loans which are identified as being able to reclaim both
principals and interests on time and the Bank shall not appropriate specific provisions according to prevailing regulations.
The interest amounts which have been recorded as income, in the event that the customer could not pay on the maturity
date, would be charged into operating expenses and credit institutions shall track off-balance sheet to urge the collection of
those loans. When collected, interests are recored as income from operating activities.
Interest receivables from overdue loans arose during year shall not be recognized as income. Credit institutions shall track
off-balance sheet to urge the collection, when collected, interests are recorded as income from operating activities.
Long-term investments include equity securities and investments in projects with the holding, recovery or payment period
of more than 1 year for profit-taking purpose in the following circumstances (i) the Bank is the founding shareholder; or (ii)
the Bank is the strategic partner; or (iii) the Bank obtains a certain controlling power in making, approving financial policies
or operation through written agreements to appoint representatives joining the Boards of Directors/Management.
Long-term investments are stated at cost. Provision for diminution in value of these investments is made in accordance
with Circular No. 228/2009/TT-BTC dated 07 December 2009 issued by the Ministry of Finance.
Land use rights consist of expenses incurred for the acquisition of official land use rights. The initial cost of the land use right is
recognized based on the expenses incurred and the value of the land approved by the Government at the date of acquisition.
Land use rights granted for indefinite term are not amortized. Land use rights granted for definite term are amortized using
the straight-line method over the duration of the right to use the land.
41
Annual report 2012
Long-term investments
Land use rights
FORM B 05/TCTD
FORM B 05/TCTD
Reserves (Continued)
Revenue (Continued)
Annual report 2012
42
(a) The amount of revenue can be measured reliably;
(b) It is probable that the economic benefits associated with the transaction will flow to the Company;
(c) The percentage of completion of the transaction at the balance sheet date can be measured reliably; and
(d) The costs incurred for the transaction and the costs to complete the transaction can be measured reliably.
Dividends recognition
Cash dividends received from investment activities are recorded into the income statement when the receiving rights of the
Bank are confirmed. For stock dividends, stocks that are distributed from profits of joint-stock companies shall not be recognized
in the financial statements according to Circular No. 244/2009/TT-BTC dated 31 December 2009 issued by the Ministry of Finance.
Borrowing costs
Borrowing costs are recognized on the accrual basis in the income statement when incurred.
Related parties
Related parties of the Bank are enterprises and individuals which directly or indirectly through one or several intermediaries
hold control of the Bank and its subsidiaries; or under the control of the Bank and its subsidiaries; or under the control of
both the Bank and its subsidiaries; associates and individuals which directly or indirectly hold voting power of the Bank and
its subsidiaries which have significant influences on the Bank; chief management positions like directors, managers of the
Bank. Close members in families of these individuals, these associates or associated companies of these individuals are also
considered as related parties. The nature of relationships is considered when evaluating the relationships of each relate parties,
not only under legal form.
Charter capital supplement reserve and financial reserve funds as mentioned above shall not be distributed.
Off-balance-sheet commitments and guarantees
During the course of business, at any time, the Bank has outstanding credit commitments. These commitments are under form
of approved loans. The bank also provides financial guarantees and letters of credit to guarantee the contract performance of
customers to third parties. These transactions are recorded to financial statements when incurred or when related expenditures
are incurred or received. Many of the contingent liabilities and commitments will expire without being advanced in whole or in
part. Therefore, the amounts do not represent expected future cash flows.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the income
statement because it excludes items of income or expense that are taxable or deductible in other years (including loss carried
forward, if any) and it further excludes items that are never taxable or deductible.
Deferred tax is recognised on significant differences between carrying amounts of assets and liabilities in the financial statements
and the corresponding tax bases used in the computation of taxable profit and are accounted for using balance sheet liability
method. Deferred tax liabilities are generally recognised for all temporary differences and deferred tax assets are recognised to
the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilised.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset
realised. Deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited directly to
equity, in which case the deferred tax is also dealt with in equity.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current
tax liabilities and when they relate to income taxes levied by the same taxation authority and the Bank intends to settle its
current tax assets and liabilities on a net basis.
Reserves
According to Decree No. 57/2012/ND-CP dated 20 July 2012 issued by the Government of Vietnam, credit institutions are
required to make the following allocations to reserves before distribution of profits:
a. Charter capital supplement reserve should be equal to 5% of the annual profit after tax and should not exceed the chartered
capital of the Bank;
b. Financial reserve funds should be equal to 10% of the annual profit after tax, after deducting allocation to charter capital
supplement reserve, losses carried forwards of previous years and other non-deductible expenses. The financial reserve funds
can not exceed 25% of the Bank’s charter capital. Financial reserve funds are appropriated to cover losses incurred during the
normal course of business;
There was no deferred tax asset and liability recognized as at 31 December 2012 since there was no significant difference between
carrying amounts of assets and liabilities in the balance sheet and the corresponding tax bases used in the computation of
taxable profit.
The determination of the tax currently payable is based on the current interpretation of tax regulations. However, these
regulations are subject to periodic variation and their ultimate determination depends on the results of the tax authorities’
examinations.
Other taxes are paid in accordance with the prevailing tax laws in Vietnam.
Income from transactions on providing services is recognized as the outcomes of the transactions are reliably identified. In case
transactions on providing services relate to several accounting periods, income is recognized during the period based on the
percentage of completion of the job at the balance sheet date. The result of transactions on providing services is identified when
all of the following 4 factors are satisfied:
43
Annual report 2012
Income from services
c. Investment and development fund, bonus and welfare fund and other funds: are appropriated in accordance with Decision
of the General Shareholders’ Meeting of the Bank. Appropriation ratios of these funds are determined by the Shareholders’
Meeting of the Bank, in compliance with laws and regulations.
FORM B 05/TCTD
FORM B 05/TCTD
Cash on hand in foreign currencies
31/12/2011
VND
VND
139,013,139,933
185,100,820,933
62,110,288,358
43,198,226,728
201,123,428,291
228,299,047,661
6. BALANCES WITH THE STATE BANK OF VIETNAM
Deposits in cash and gold at other credit institutions
Annual report 2012
44
According to Decision No. 1925/QD-NHNN dated 26 August 2011:
Compulsory reserve balances for VND deposits applicable to credit institutions:
- Compulsory reserve balance is 3% (31 December 2011: 3%) of the preceding month’s average balance for demand deposits
and time deposits with terms of less than 12 months in VND;
- Compulsory reserve balance is 1% (31 December 2011: 1%) of the preceding month’s average balance for deposits in VND
with terms of more than 12 months.
Compulsory reserve balances for deposits in foreign currencies applicable to credit institutions:
- Compulsory reserve balance is 8% (31 December 2011: 8%) of the preceding month’s average balance for demand deposits
and time deposits with terms of less than 12 months in foreign currencies;
- Compulsory reserve balance is 6% (31 December 2011: 6%) of the preceding month’s average balance for deposits in
foreign currencies with terms of more than 12 months.
- Compulsory reserve balance is 1% (31 December 2011: 1%) of the balance for deposits in foreign currencies from overseas
credit institutions.
31/12/2012
Settlement deposits at the State Bank of Vietnam
31/12/2011
VND
VND
416,124,061,792
748,922,723,773
416,124,061,792
748,922,723,773
31/12/2011
VND
VND
Demand deposits
736,708,369,149
103,936,239,527
- In VND
565,362,775,040
18,058,799,014
- In foreign currencies, gold
171,345,594,109
85,877,440,513
Term deposits
34,000,000,000
1,299,531,100,000
- In VND
34,000,000,000
882,971,100,000
-
416,560,000,000
770,708,369,149
1,403,467,339,527
The amount consists of compulsory reserve and current accounts. Under regulations of the State Bank of Vietnam on
compulsory reserve, banks are permitted to maintain a floating balance at its compulsory reserve. In details:
31/12/2012
1,618,916,000,000
-
- In VND
640,000,000,000
-
978,916,000,000
-
Loans to other credit institutions
1,618,916,000,000
-
2,389,624,369,149
1,403,467,339,527
45
Annual report 2012
Cash on hand in VND
31/12/2012
7. CASH, GOLD BALANCES WITH OTHER CREDIT INSTITUTIONS AND LOANS TO OTHER CREDIT INSTITUTIONS
5. CASH ON HAND, JEWELS, PRECIOUS STONES
FORM B 05/TCTD
FORM B 05/TCTD
Loans from discounted commercial bills and other
valuable papers
Loans by trusted funds, investments
31/12/2012
31/12/2011
VND
VND
13,684,235,841,339
12,011,686,396,603
3,041,609,898
2,628,993,472
100,095,132,095
97,721,852,918
13,787,372,583,332
12,112,037,242,993
Annual report 2012
46
Special mentioned loans
Sub-standard loans
31/12/2012
31/12/2011
VND
VND
One-member limited liability companies with 100% of charter capital
owned by the State
507,235,404,876
453,742,579,696
Two or more-member limited liability companies with 50% of
charter capital or more owned by the State
113,331,267,266
32,759,416,618
3,136,050,256,368
3,188,983,174,306
Joint stock companies with 50% of charter capital or voting shares
owned by the State, or the State has the control power according to
the charter
635,833,480,365
781,554,641,576
Other limited companies
217,413,669,268
-
5,966,838,590,942
5,201,172,060,087
Other limited liability companies
Loans quality
Current loans
Loans by types of customers and enterprises:
31/12/2012
31/12/2011
VND
VND
10,967,602,865,795
11,553,561,102,982
1,656,494,899,134
309,490,293,675
863,519,712,574
66,165,001,497
Private companies
-
201,269,651,363
Companies with foreign investments
203,499,515,831
212,110,212,580
Collective economy - Cooperatives
277,471,313,189
375,056,880,337
2,688,378,708,309
1,620,030,135,573
41,320,376,918
45,358,490,857
13,787,372,583,332
12,112,037,242,993
Doubtful loans
108,923,185,414
40,021,386,886
Loss
190,831,920,415
142,799,457,953
13,787,372,583,332
12,112,037,242,993
Other joint stock companies
Collective economy - Households and individuals
Other organizations
Loans by terms
Loans by sectors
31/12/2012
31/12/2011
VND
VND
31/12/2012
31/12/2011
Short-term loans
9,440,564,135,262
8,491,258,291,361
VND
VND
Medium-term loans
2,840,545,416,309
2,263,855,593,906
Agriculture, forestry and fishery
1,481,569,343,540
1,554,968,745,083
1,506,263,031,761
1,356,923,357,726
Mining industry
435,883,313,919
301,763,603,188
13,787,372,583,332
12,112,037,242,993
5,008,476,579,558
4,246,270,053,142
Long-term loans
Processing and manufacturing industry
Distribution of electricity, gas, water and air condition
Providing, management and processing of wastes and waste water
Construction
Loans by currencies
Loans in VND
Loans in foreign currencies, gold
31/12/2012
31/12/2011
VND
VND
10,419,105,199,124
9,448,405,165,746
3,368,267,384,208
2,663,632,077,247
13,787,372,583,332
12,112,037,242,993
Retail, whole sale and repair of cars, motors and other motor
vehicles
Hospitality and beverage
Logistics
Information and telecommunication
3,651,992,000
12,034,038,377
55,460,064,395
51,435,555,571
810,928,698,172
1,046,219,755,785
2,459,886,552,028
2,417,918,454,626
74,197,433,386
85,661,622,898
1,014,079,686,818
962,582,955,277
2,136,260,000
46,222,173,478
Finance, banking and insurance
606,795,000
30,363,687,476
Real estates
540,000,000
-
Science and technology
Administration and support services
Training and education
Medical and social support
Arts and entertainment
Employment in household businesses, manufacturing of
self-consuming products and services
Others
9,581,546,614
9,213,882,000
21,768,305,158
42,921,441,538
2,284,330,643
1,308,470,590
78,257,000,599
25,091,425,767
7,683,177,818
9,524,547,148
222,715,521,246
137,679,736,058
2,097,665,982,438
1,130,857,094,991
13,787,372,583,332
12,112,037,242,993
Loans to local economic entities and individuals
8. LOANS TO CUSTOMERS (CONTINUED)
47
Annual report 2012
8. LOANS TO CUSTOMERS
FORM B 05/TCTD
FORM B 05/TCTD
11. LONG-TERM INVESTMENTS
Specific provisions
Total
VND
VND
VND
80,998,722,761
24,271,705,860
105,270,428,621
31,310,100,420
77,487,049,504
108,797,149,924
(22,258,044,040)
(5,983,009,348)
(28,241,053,388)
-
(2,022,500,000)
(2,022,500,000)
90,050,779,141
93,753,246,016
183,804,025,157
90,050,779,141
93,753,246,016
183,804,025,157
42,002,701,304
227,384,807,004
269,387,508,308
(17,826,376,757)
(15,173,476,135)
(32,999,852,892)
-
(101,896,575,282)
(101,896,575,282)
114,227,103,688
204,068,001,603
318,295,105,291
2011
Opening balance
Provision made for the year
Reversal for the year
Provision used for the year
Closing balance
2012
Opening balance
Annual report 2012
48
Provision made for the year
Reversal for the year
Provision used for the year
Closing balance
7,793,646,440
30,000,000,000
Fund Certificates VF4
SSI Vision Investment Fund (i)
44,904,486,698
44,904,486,698
VietFund Active (VFA)
10,150,000,000
10,150,000,000
PTN Chemicals Co., Ltd.
Other long-term investments provision
Buildings,
VND
VND
1,988,586,661,238
2,085,817,170,899
Debt Securities
1,886,491,314,558
1,985,682,773,661
COST
- Government bonds
1,325,563,639,571
1,121,999,002,728
As at 01/01/2012
80,914,202,081
281,481,487,879
480,013,472,906
582,202,283,054
institutions
economic entities
Equity securities
- Equity securities issued by other local
102,095,346,680
100,134,397,238
8,569,643,305
7,576,503,305
93,525,703,375
92,557,893,933
(64,827,791,634)
(63,319,975,139)
1,923,758,869,604
2,022,497,195,760
credit institutions
- Equity securities issued by other local
economic entities
Provision for diminution in value of
available-for-sales securities
487,808,858
604,802,839
63,335,941,996
85,659,289,537
(23,520,369,298)
(30,015,627,118)
39,815,572,698
55,643,662,419
(i) Investment that SSI Vision Fund commits to pay the Bank due to its dissolution on 14 November 2012. However, up to 31 December 2012, the division of assets to
investors has not been completed. Therefore, the Bank has not reclassified this investment into corresponding account.
31/12/2011
- Debt securities issued by other local
VND
Other long-term investments
31/12/2012
- Debt securities issued by other local credit
31/12/2011
VND
12.TANGIBLE FIXED ASSETS
10. INVESTMENT SECURITIES
Available-for-sales securities
31/12/2012
structures
Machinery,
equipment
VND
VND
Motor vehicles
Management
tools
Other fixed
assets
Total
VND
VND
VND
VND
144,039,354,892
9,162,815,850
47,600,829,977
105,674,702,508
213,021,000
306,690,724,227
Additions
24,375,916,977
2,193,215,585
14,716,219,100
16,466,657,725
159,038,000
57,911,047,387
Other increases
1,132,420,927
54,136,364
298,035,181
3,100,380
-
1,487,692,852
(6,208,710,016)
(91,566,226)
(3,010,388,139)
(1,411,239,763)
-
(10,721,904,144)
-
(79,400,000)
(75,219,812)
(20,297,973,756)
-
(20,452,593,568)
163,338,982,780
11,239,201,573
59,529,476,307
100,435,247,094
372,059,000
334,914,966,754
16,202,719,633
2,424,047,887
16,822,546,383
40,770,914,111
53,495,487
76,273,723,501
Charge for the year
10,654,009,656
1,880,079,044
8,133,920,706
20,339,957,917
59,339,537
41,067,306,860
Disposals
(5,633,489,225)
(89,843,257)
(1,833,256,434)
(1,125,288,377)
-
(8,681,877,293)
21,223,240,064
4,214,283,674
23,123,210,655
59,985,583,651
112,835,024
108,659,153,068
Disposals
Other decreases
As at 31/12/2012
ACCUMULATED
DEPRECIATIOIN
As at 01/01/2012
As at 31/12/2012
NET BOOK VALUE
The book value of bonds pledged for fund mobilization contracts as at 31 December 2012 is VND 1,104,545,000 (31 December
2011: VND 1,572,334,000,000).
As at 31/12/2012
142,115,742,716
7,024,917,899
36,406,265,652
40,449,663,443
259,223,976
226,255,813,686
Details of debt securities
As at 31/12/2011
127,836,635,259
6,738,767,963
30,778,283,594
64,903,788,397
159,525,513
230,417,000,726
Treasury bonds (i)
31/12/2012
31/12/2011
VND
VND
1,181,021,457,086
977,457,154,186
Urban development bonds (ii)
144,542,182,485
144,541,848,542
Corporate bonds (iii)
480,013,472,906
582,202,283,054
80,914,202,081
281,481,487,879
1,886,491,314,558
1,985,682,773,661
Other banks’ valuable papers (iv)
(i)
Government bonds with terms of three to fifteen years in VND issued by the State Treasury, earning interest at 9.3% p.a. to 12.3% p.a. Interest is payable annually;
(ii) Urban development bonds represent ten-year and fifteen-year bonds in VND issued by Ho Chi Minh City People’s Committee, earning interest at 8.8% p.a. to 9.55%
p.a. Interest is payable annually;
(iii) Corporate bonds include bonds in VND issued by economic entities with terms of three to ten years, earning interest at 9.4% p.a. to 15.5% p.a. Interest is payable
annually;
(iv) Other valuable papers include bonds with terms of three to ten years in VND issued by local credit institutions, earning interest at 9.5% p.a. to 11.8% p.a. Interest is
payable annually.
General provisions
49
Annual report 2012
9. PROVISIONS FOR LOANS LOSSES
FORM B 05/TCTD
FORM B 05/TCTD
Computer software
Others
Total
VND
VND
VND
VND
COST
As at 01/01/2012
Additions
As at 31/12/2012
Annual report 2012
50
16,080,041,750
39,467,918,548
83,000,000
55,630,960,298
3,875,280,000
1,146,172,280
153,030,096
5,174,482,376
19,955,321,750
40,614,090,828
236,030,096
60,805,442,674
ACCUMULATED
AMORTIZATION
As at 01/01/2012
-
18,516,777,282
47,000,000
18,563,777,282
Charge for the year
-
9,060,605,534
36,838,137
9,097,443,671
As at 31/12/2012
-
27,577,382,816
83,838,137
27,661,220,953
As at 31/12/2012
19,955,321,750
13,036,708,012
152,191,959
33,144,221,721
As at 31/12/2011
16,080,041,750
20,951,141,266
36,000,000
37,067,183,016
Collateral (i)
31/12/2011
VND
VND
47,810,000,000
-
Undistrbuted expenses
22,265,267,930
21,302,488,541
Other assets
31,861,788,812
21,204,317,942
101,937,056,742
42,506,806,483
(i) Represents the land use right of the land lot located at Ninh Xa Ward, Bac Ninh Province which was mortgaged by a customer and approved by the Bank’s
Board of Management under the Resolution No. 07/2012/NQ-HDQT-PGB dated 30 June 2012 on “Treatments for overdue loans and guarantor’s receipt of
collaterals to take over payment obligations on behalf of borrowers at PG Bank”. The Board of Management has assessed financial capability of the borrower and
believed that there would be no legal risk or diminution in value of disposal of assets.
NET BOOK VALUE
14. RECEIVABLES
- External receivables (*)
- Internal receivables
- Acquisition of fixed assets
16. DEPOSITS AND LOANS FROM OTHER CREDIT INSTITUTIONS
31/12/2012
31/12/2011
VND
VND
Demand deposit
623,908,496
1,851,095,529
- In VND
Cash, gold from other credit institutions
31/12/2012
31/12/2011
VND
VND
205,459,986,477
630,935,463,721
28,535,206,812
12,921,909,884
2,923,202,275
9,033,298,043
236,918,395,564
652,890,671,648
623,908,496
1,851,095,529
Term deposits
-
3,355,720,000,000
- In VND
-
960,500,000,000
-
2,395,220,000,000
623,908,496
3,357,571,095,529
635,000,000,000
-
2,790,952,000,000
-
Borrowings from other credit institutions
- In VND
(*) Details of external receivables
31/12/2012
Deposits, mortgage
Balance due from the State Budget
Entrusted investment, securities brokerage (i)
31/12/2011
VND
VND
50,447,668,756
70,042,610,125
1,528,431,933
6,175,601,089
82,780,000,000
508,070,605,135
Interest subsidiary program (ii)
5,807,271,164
7,999,948,671
Receivables from services
2,291,177,465
938,735,348
62,605,437,159
37,707,963,353
205,459,986,477
630,935,463,721
Other receivables
(i) Represent the amount disbursed for entrustment and securities brokerage contracts. The bank bears credit risks incurred from the amount transferred to the
trustees. The Board of Management has assessed financial capability of the trustees and believed the Bank would able to recover all these entrustments.
(ii) Interest subsidiary program balances represent the amount subsidized to borrowing customers who are qualified for the interest subsidiary program of the
Government. This amount will be paid to the Bank by the State Bank of Vietnam.
Total cash, gold and borrowings from other credit
institutions
3,425,952,000,000
-
3,426,575,908,496
3,357,571,095,529
51
Annual report 2012
Land use rights
31/12/2012
15. OTHERS ASSETS
13. INTANGIBLE FIXED ASSETS
FORM B 05/TCTD
FORM B 05/TCTD
17. DEPOSITS FROM CUSTOMERS
31/12/2012
31/12/2011
VND
VND
VND
VND
1,285,769,803,274
1,572,790,720,435
16,660,220,209
54,686,396,355
1,060,694,798,348
1,431,807,871,413
225,075,004,926
140,982,849,022
10,911,263,435,668
9,204,817,929,533
- In VND
9,427,568,651,906
8,008,662,699,643
Other provisions
1,483,694,783,762
1,196,155,229,890
- Provisions for commitments
65,596,970
3,779,361,534
135,321,923,391
143,791,034,619
12,332,420,759,303
10,925,179,046,121
- In VND
Term deposits
Deposits for specific purposes
Margin deposits
- Internal payables
9,181,784,842
5,785,300,080
- External payables (*)
7,473,649,986
45,155,818,986
4,785,381
3,745,277,289
18,302,746,883
14,025,117,350
18,302,746,883
14,025,117,350
34,962,967,092
68,711,513,705
31/12/2012
31/12/2011
VND
VND
93,406,553
37,184,118,386
-
3,541,424,656
7,380,243,433
4,430,275,944
7,473,649,986
45,155,818,986
- Other debt assets
(*) Details of external payables
Details by types of customers
Economic entities
Individuals
3,485,832,949,406
5,915,380,064,494
8,846,587,809,897
5,009,798,981,627
12,332,420,759,303
10,925,179,046,121
52
Annual report 2012
Other payables and liabilities
- Unearned revenues
- Other payables
21. EQUITY
18.GRANTS, TRUSTED INVESTMENTS, BORROWINGS AT RISK OF CREDIT INSTITUTIONS
Trusted investments in VND (*)
- Taxes and amounts payable to the State
budget
31/12/2012
31/12/2011
VND
VND
Charter capital
Retained earnings
Total
98,775,653,000
117,083,650,000
VND
VND
VND
98,775,653,000
117,083,650,000
2,000,000,000,000
504,422,722,299
2,504,422,722,299
1,000,000,000,000
-
1,000,000,000,000
Profit for the year
-
239,984,673,581
239,984,673,581
Distribution to funds (ii)
-
(104,498,707,190)
(104,498,707,190)
-
(604,968,000,000)
(604,968,000,000)
3,000,000,000,000
34,940,688,690
3,034,940,688,690
(*) Represents trusted amounts received from the State Bank of Vietnam and lent to enterprises eligible for conditions regulated by Small & Medium Enterprise
Development Fund Project. The interest rate is adjusted on quarterly basis equivalent to basic interest rate applicable to the last working day of the prior quarter
announced by the State Bank of Vietnam less 1.5% per annum.
Opening balance
Increase (i)
Share dividends declared (iii)
Closing balance
19. ISSUANCE OF VALUABLE PAPERS
Bill of exchange
- Bill of exchange (less than 12 months)
31/12/2012
31/12/2011
VND
VND
421,926,378
1,977,401,615
421,926,378
1,977,401,615
421,926,378
1,977,401,615
(i) The Bank increased its charter capital under Resolution No. 13-2011/NQ-HDQT-PGB dated 30 December 2011 and paid share dividends on 10 February 2012.
Accordingly, the Bank‘s charter capital increased by VND 1,000,000,000,000, in which VND 360,000,000,000 was stock dividend.
(ii) Distribution to funds from retained earnings in 2011 was made in accordance with the Resolution No 02/2012.NQDHDCD-PGB of the General Shareholders’
Meeting dated 12 April 2012. The distribution to funds from retained earnings in 2012 will be made at the following General Shareholders’ Meeting.
(iii) Dividends distributed in 2012 included VND 316,668,307,654 from retained earnings in 2011 in accordance with the Resolution No 02/2012.NQDHDCD-PGB
of the General Shareholders’ Meeting dated 12 April 2012 and advance of dividend of 2012 of VND 205,043,984,890 from earnings of 5 months of 2012 and VND
39,924,015,110 from previous years’ earnings in accordance with the Resolution No. 04/2012.NQDHCD-PBG of the General Shareholders’ Meeting dated 16 June
2012. The remaining of VND 43,331,692,346 was paid in 2012 in accordance with Resolution No. 11/2011/NQDCD-PGB dated 09 November 2011.
31/12/2011
53
Annual report 2012
31/12/2012
Demand deposits
20.OTHER PAYABLES AND LIABILITIES
21.EQUITY (CONTINUED)
Details of the Company’s charter capital as at 31 December 2012 are as follows:
Vietnam National Petrolium Corporation
Saigon Securities Incorporation
Other shareholders
2012
Charter capital
as at 31/12/2012
VND
VND
Rate
1,200,000,000,000
1,200,000,000,000
40,00%
63,857,600,000
-
0,00%
1,736,142,400,000
1,800,000,000,000
60,00%
3,000,000,000,000
3,000,000,000,000
100%
VND
VND
Income from payment services
11,872,207,028
12,102,935,017
Income from cashiering services
18,111,857,950
15,006,064,195
Income from trusted and agency services
4,826,950,587
3,187,910,475
Income from consulting services
1,562,723,920
18,330,504,162
1,950,540
-
Income from insurance services
Income from assets preservation and safe leasing services
64,000,000
127,502,983
27,215,971,640
35,794,115,625
63,655,661,665
84,549,032,457
Expense on payment services
4,369,849,110
4,145,452,185
Postal cost on telecommunication
8,699,338,490
7,217,402,379
Expense on cash count, classification and packing services
5,240,091,119
3,826,388,640
Expense on entrusting and agency operation
1,929,444,458
1,189,999,999
771,985,500
1,073,704,427
22,958,402
4,705,257,547
14,735,767,759
16,943,346,194
Expenses from services
35,769,434,838
39,101,551,371
Net profit/loss from services
27,886,226,827
45,447,481,086
Others
Income from services
Annual report 2012
54
22.RESERVES
Opening balance
Development
investment
funds
Financial
reserve funds
Charter capital
supplement fund
Bonus,
VND
VND
VND
VND
VND
650,000,000 49,362,343,784
21,773,842,126
9,644,811,217
81,430,997,127
welfare funds
Total
Allocation to funds
-
42,394,202,965
22,312,738,403
39,791,765,822
104,498,707,190
Decrease
-
-
-
(26,837,376,992)
(26,837,376,992)
650,000,000 91,756,546,749
44,086,580,529
22,599,200,047
159,092,327,325
Closing balance
23.INTEREST INCOME AND SIMILAR INCOME
Interest from deposits
Expense on consulting services
Expense on commission, brokerage
Others
26.NET PROFIT FROM DEALINGS IN FOREIGN CURRENCIES
2012
2011
VND
VND
146,956,423,844
482,075,709,553
1,760,108,520,939
2,007,484,695,318
Gain from trading and investing in debt securities
247,397,781,545
218,752,396,762
Other income from credit activities
102,492,705,721
109,502,628,468
2,256,955,432,049
2,817,815,430,101
Interest from loans to customers
2011
2012
2011
VND
VND
Income from dealings in foreign currencies
49,554,978,957
61,488,544,241
- Income from spot foreign currency contracts
37,375,315,174
31,883,791,466
- Proceeds from monetary derivative instruments
12,179,663,783
29,604,752,775
Expenses on dealings in foreign currencies
5,183,380,550
39,193,772,589
15,753
34,353,822,916
5,183,364,797
4,839,949,673
44,371,598,407
22,294,771,652
- Expenses on spot foreign currency contracts
- Payments on monetary derivative instruments
Net profit from dealings in foreign currencies
24.INTERESTS AND SIMILAR EXPENSES
2012
Interest expenses on deposits
Interest expenses on borrowings
Interest expense from issuing valuables papers
Other expenses on credit activities
2011
VND
VND
1,206,744,136,999
1,621,436,847,690
63,214,571,837
53,369,049,976
34,382,218
30,398,473,529
6,241,032,851
16,250,104,100
1,276,234,123,905
1,721,454,475,295
27.NET PROFIT FROM INVESTMENT SECURITIES
Income from trading investment securities
Expenses on trading investment securities
Provision for diminution in value of investment securities
Reversal of provision for diminution in value of investment
55
Annual report 2012
Per Amended Business
License
FORM B 05/TCTD
25.NET PROFIT FROM SERVICES
FORM B 05/TCTD
2012
2011
VND
VND
22,114,094,341
103,027,797,584
(451,055,261)
(101,151,664,844)
(11,665,487,000)
(51,820,066,593)
24,446,574,765
-
34,444,126,845
(49,943,933,853)
FORM B 05/TCTD
FORM B 05/TCTD
31.BASIC EARNINGS PER SHARE
28.NET PROFIT FROM OTHER ACTIVITIES
VND
VND
Income from derivatives
29,133,096,947
38,455,413,339
Other income
65,836,391,802
81,097,509,871
(25,631,262,687)
Expenses for derivatives
Other expenses
Net profit for the year attributable to ordinary shareholders
Annual report 2012
56
Employee expenses
- Salary-based costs
- Subsidiaries
Expenses on assets
2011
VND
239,984,673,581
446,254,768,053
Number of shares outstanding at the beginning of the year
Share
200,000,000
200,000,000
Share
100,000,000
-
(34,064,746,758)
Weighted average number of ordinary shares
(retrospectively adjusted comparative period)
Share
273,322,404
236,000,000
(3,545,352,516)
(36,792,336,674)
Basic earnings per share
VND
878
1,891
65,792,873,546
48,695,839,778
2012
2011
VND
VND
16,193,999,827
12,240,782,948
220,828,535,583
201,134,963,656
200,818,159,104
183,690,030,645
19,588,705,931
16,148,400,655
421,670,548
1,296,532,356
113,647,701,834
94,899,111,524
50,072,201,584
40,443,316,846
191,259,639,786
110,931,479,999
32.INCOME OF EMPLOYEES
I. Total number of employees (at the end of the year/average)
2012
2011
VND
VND
1,441/1,410
1,375/1,287
163,324,748,011
124,343,864,379
34,854,896,842
34,823,198,909
198,179,644,853
159,167,063,288
9,652,763
8,057,534
11,712,745
10,302,742
31/12/2012
31/12/2011
VND
VND
10,877,888,077,488
8,988,191,104,769
II. Income of employees
1. Total salary funds (1)
In which:
- Salaries and allowance
2012
Number of shares issued during the year
29.OPERATING EXPENSES
Taxes, fees and charges
Unit
2. Bonus (2)
3. Total income (1+2)
4. Average salary
5. Average income
In which:
- Depreciation and amortization
Expenses on management activities
33.TYPES AND VALUES OF CUSTOMERS’ MORTGAGES
In which:
- Per diem expenses
4,122,140,596
2,898,259,641
Expenses on customers' deposit insurance,
insurance premium
7,319,778,180
6,254,870,010
Provision expense (excluding credit provisions,
provision for diminution in value of securities)
Other operating expense
-
27,928,034,660
7,793,646,440
-
557,043,301,650
453,389,242,797
Properties (houses, lands, vehicles)
Shares, bonds, valuable papers
Machinery and equipment
Others
2,699,692,147,440
1,672,882,676,513
10,525,704,708,351
9,892,266,829,465
4,223,518,081,340
4,411,102,903,770
28,326,803,014,619
24,964,443,514,517
34.GEOGRAPHIC DENSITY OF ASSETS, LIABLITIES AND OFF-BALANCE SHEET ITEMS
30.CURRENT CORPORATE INCOME TAX
As at 31 December 2012, most outstanding loan balances, deposits, credit commitments, derivative instruments and securities
investment incurred domestically, except for deposits at foreign credit institutions with the amount of VND 75,099,630,350 (31
December 2011: VND 37,970,167,093).
2012
2011
VND
VND
318,967,697,945
594,385,913,608
11,256,503,971
6,371,850,154
31/12/2012
31/12/2011
- Income from securities invesments, capital contribution
5,517,620,400
6,371,850,154
VND
VND
- Sales deductable in settlement corporate income tax 2011
5,738,883,571
-
2,465,170,838,000
2,465,170,838,000
Add : non-deductible expenses
8,220,903,481
4,510,518,765
Commitments on purchase of spot foreign currencies
-
31,242,000,000
315,932,097,455
592,524,582,219
Commitments on foreign currencies swaps (purchase)
224,942,400,000
6,737,149,848
25%
25%
Commitments on foreign currencies swaps (sale)
142,458,468,361
6,858,125,000
78,983,024,364
148,131,145,555
29,490,365,200
13,158,349,350
Profit before tax
Adjustments for taxable income:
Less: non-assessable income
Assessable income
Normal tax rate
Corporate income tax
35.CONTIGENT LIABILITIES AND COMMITMENTS
Commitments on nominal interest rate swaps
Commitments on forward goods purchases
Commitments on forward goods sales
48,664,622,000
9,997,440,000
2,910,726,693,561
2,533,163,902,198
2011
57
Annual report 2012
2012
FORM B 05/TCTD
FORM B 05/TCTD
36.FINANCIAL INSTRUMENTS
Financial risks management
Capital risk management
The Bank manages its capital to ensure that the Bank will be able to continue as a going concern while maximising the return to
shareholders through the optimisation of the debt and equity balance.
The capital structure of the Bank consists of capital, reserves and retained earnings.
Details of book values of the Bank’s financial instruments are as follows:
31/12/2012
31/12/2011
VND
VND
Cash on hand, gold and precious stones
201,123,428,291
228,299,047,661
Balances with the State Bank of Vietnam
416,124,061,792
748,922,723,773
2,389,624,369,149
1,403,467,339,527
2,229,058,279
119,715,058
13,469,077,478,041
11,928,233,217,836
1,923,758,869,604
2,022,497,195,760
39,815,572,698
55,643,662,419
510,950,903,838
848,776,680,455
18,952,703,741,692
17,235,959,582,489
31/12/2012
31/12/2011
VND
VND
-
400,000,000,000
3,426,575,908,496
3,357,571,095,529
12,332,420,759,303
10,925,179,046,121
98,775,653,000
117,083,650,000
421,926,378
1,977,401,615
Financial assets
Cash, gold at other credit institutions and loans to other
credit institutions
Annual report 2012
Derivatives and other financial assets
Loans to customers
Investment securities
Long-term investments
Others
Total
Financial liabilities
Borrowings from to the Government and the State Bank of
Vietnam
Deposits and borrowings from other credit institutions
Deposits of customers
Grants, entrusted investments and borrowings at risks of
other credit institutions
Issuance of valuable papers
Others
Total
171,092,687,813
128,758,104,155
16,029,286,934,990
14,930,569,297,420
The Bank has not assessed fair value of its financial assets and liabilities as at the balance date since there are no comprehensive
guidance under Circular No. 210/2009/TT-BTC issued by the Ministry of Finance on 06 November 2009 (“Circular 210”) and other
relevant prevailing regulations to determine fair value of these financial assets and liabilities. While Circular 210 refers to the
application of IFRS on presentation and disclosures of financial instruments, it did not adopt the equivalent guidance for the
recognition and measurement of financial instruments, including application of fair value, in accordance with IFRS.
59
Annual report 2012
Details of the significant accounting policies and methods adopted (including the criteria for recognition, the bases of
measurement, and the bases for recognition of income and expenses) for each class of financial asset, financial liability and
equity instrument are disclosed in Note 4.
The Bank’s operations are subject to the risk of interest rate fluctuations to the extent that interest earning assets and interest-bearing
liabilities mature at different times or in different amounts. Some assets have indefinite maturities or interest rate sensitivities and are
not readily matched with specific liabilities. The Bank manages interest rate risk on centralized fund management principal. Interest rate
risk is managed on weekly basis and maintained within the accepted risk limit in line with goals, strategies approved by the Board of
Directors and policies set up by Assets and Liabilities Management Committee (ALCO). Interest rate risk is managed using 2 methods,
namely interest rate sensitivity gap analysis method and the net value of equity method.
Interest rate risk
Significant accounting policies
58
This section provides details on risks that the Bank might be exposed to and demonstrates the methods the Board of Management used
to mitigate financial risks. The most potential risks are market risks, liquidity risks and credit risks.
Cash on hand,
gold, precious
stones
Balances with the
SBV
Deposits at and
loans to other
credit institutions
Available-for-sale
securities
Loans
Long-term capital
contribution
Fixed assets
Others
Liabilities
Deposits and
borrowings from
other credit
institutions
Deposits from
economic entities
Individual saving
accounts
Issuance of
valuable papers
Entrusted funds
at risks of credit
institutions
Others
Interest rate gap
1
2
3
4
5
6
7
8
II.
1
2
3
4
5
6
III.
0 – 1 month
100,623,908,496
-
1,010,595,187,812
818,436,379,931
-
421,926,378
1,176,411,303,902
491,503,166,008
98,775,653,000
-
-
2,235,503,262,797
3,512,960,401,573
590,278,819,008
-
-
-
-
3,079,142,482,043
-
1,105,362,775,040
339,050,332,302
-
4,523,555,589,385
719,374,971,089
259,400,035,407
-
290,927,052,510
-
-
139,013,139,933
1,408,715,198,939
1 - 3 months
2,458,385,755,527
-
-
-
328,061,762,485
918,614,504,880
535,000,000,000
1,781,676,267,365
-
-
-
4,004,537,735,654
101,524,287,238
134,000,000,000
-
-
4,240,062,022,892
2,236,107,091,450
-
-
-
93,637,429,995
78,611,281,071
-
172,248,711,066
-
-
-
2,208,355,802,516
200,000,000,000
-
-
-
2,408,355,802,516
3 - 6 months
1 – 5 years
1,390,800,009,053
-
-
1,247,000,000,000
143,800,009,053
42,722,379,316
-
171,500,000
42,550,879,316
-
1,348,077,629,737
6 - 12 months
984,387,620,737
-
-
300,000,000,000
684,387,620,737
5,671,005,246,075
-
23,933,901,690
5,647,071,344,385
-
(4,686,617,625,338)
INTEREST RATE RISK REPORT IN VND
Over 5 years
212,526,489,441
-
-
-
-
-
-
-
-
-
63,907,001,438
7,954,496,611
140,664,991,392
-
-
-
212,526,489,441
3,397,510,908,560
491,503,166,008
98,775,653,000
421,926,378
7,287,732,720,083
3,256,834,450,438
635,623,908,496
11,770,891,824,403
719,374,971,089
259,400,035,407
63,907,001,438
10,419,105,199,124
1,989,189,278,630
1,239,362,775,040
339,050,332,302
139,013,139,933
15,168,402,732,963
Total
FORM B 05/TCTD
Deposits from
economic entities
Individual saving
accounts
Others
Interest rate gap
2
3
4
III.
(2,662,536)
9,420,124
-
-
-
9,420,124
-
-
(48,657,716)
-
48,424,496
11,306,699
63,500,000
123,231,195
-
16,763,247
54,109,746
3,700,486
-
74,573,479
0 – 1 month
(4,084,180)
-
19,165,192
-
59,000,000
78,165,192
-
74,081,011
-
-
-
74,081,011
1 - 3 months
62,176,783
-
822,559
-
-
822,559
-
62,999,342
-
-
-
62,999,342
3 - 6 months
INTEREST RATE RISK REPORT IN USD
-
78,706
(39,642)
1,872,694
1,000,331
39,064
2,873,026
-
-
-
-
-
-
78,706
-
-
-
39,064
2,873,026
1,872,694
1 – 5 years
6 - 12 months
4,962,544
-
-
-
-
-
-
4,962,544
-
-
-
4,962,544
Over 5 years
12,695,584
9,420,124
70,363,647
11,306,699
122,500,000
213,590,470
4,104,217
161,718,234
54,109,746
3,700,486
2,653,371
226,286,054
+ USD interest rate decreases by 1%; NII increases by USD 433,000
+ USD interest rate increases by 1%; NII decreases by USD 433,000
Annual report 2012
Total
FORM B 05/TCTD
Assumed that long- and medium-term loans have floating rate with the dates of changing interest rate distributing evenly in the next 12 months; assets-liabilities structure is stable and interest rate equally
alternates in all terms, net interest income (NII) of the Bank in the next 12 months is as follows:
Deposits and
borrowings from
other credit
institutions
1
4,104,217
Others
Liabilities
Loans
4
5
Deposits at and
loans to other
credit institutions
3
II.
-
Balances with the
SBV
2
2,653,371
Cash on hand,
gold, precious
stones
1
6,757,588
Assets
I.
Insensitive to
interest rate
36.FINANCIAL INSTRUMENTS (CONTINUED)
+ VND interest rate decreases by 1%; NII increases by VND 19 billion.
+ VND interest rate increases by 1%; NII decreases by VND 19 billion;
Assumed that long- and medium-term loans have floating rate with the dates of changing interest rate distributing evenly in the next 12 months and interest rate equally alternates in all terms, net interest income (NII) of the
Bank in the next 12 months is as follows:
Assets
I.
Insensitive to
interest rate
Annual report 2012
60
61
Annual report 2012
62
5. Others
Liabilities and owners’ equity
Total assets
1. Deposits and borrowings from the State
Bank of Vietnam and other credit institutions
2. Deposits from customers
VND
VND
VND
1. Cash on hand, gold and precious stones
6,845,877,170
55,264,411,188
62,110,288,358
2. Balances with the State Bank of Vietnam
77,073,729,490
77,073,729,490
23,263,825,249
1,126,997,768,860
1,150,261,594,109
3,368,267,384,208
3,368,267,384,208
45,153,326
64,700,772,986
64,745,926,312
30,154,855,745
4,692,304,066,732
4,722,458,922,477
2,790,952,000,000
2,790,952,000,000
62,014,189,615
1,725,931,610,868
1,787,945,800,483
3. Others
(31,859,333,870)
175,420,455,864
143,561,121,994
Total liabilities and owners’ equity
30,154,855,745
4,692,304,066,732
4,722,458,922,477
On-balance sheet state of currency
-
Liquidity risk
The Bank is exposed to liquidity risk in continuous withdrawals in short-term period, current accounts, matured deposits, capital
withdrawal, guarantees, and payables in cash through derivative instruments.
The Bank pays special attention to effective management of the balance sheet and liquidity. Policy on liquidity risk management
is based on regulations and scopes issued by the State Bank of Vietnam.
Fixed assets
Others
Outflows
Deposits and
borrowings from
other credit
institutions
Deposits from
economic entities
Individual saving
accounts
Issuance of valuable
papers
Entrusted funds
at risks from other
credit institutions
7
8
II.
1
2
3
4
5
Liquidity gap
Other funds and
reserves
Long-term capital
contribution
6
8
Loans to customers
5
Other liabilites
Available-for-sale
securities
4
Charter capital
Deposits at and
loans to other credit
institutions
3
6
Balances with the
SBV
2
7
Inflows
Cash on hand, gold
1,160,144,423,255
-
-
-
-
-
-
-
-
-
-
-
-
1,160,144,423,255
-
-
-
-
1,160,144,423,255
336,680,609,099
-
-
-
-
-
-
-
-
-
-
-
-
336,680,609,099
-
-
-
-
336,680,609,099
644,858,559,662
-
-
82,265,284,732
-
-
1,149,036,890,426
1,508,730,315,337
100,623,908,496
2,840,656,398,991
120,769,535,342
-
-
1,781,319,176,036
-
1,105,362,775,040
339,050,332,302
139,013,139,933
3,485,514,958,653
Annual report 2012
325,773,320,868
-
-
164,530,569,464
98,775,653,000
421,926,378
332,169,517,782
996,076,471,526
535,000,000,000
2,126,974,138,150
239,791,657,029
-
-
1,977,431,514,751
101,524,287,238
134,000,000,000
-
-
2,452,747,459,018
1 - 3 months
-
395,483,168,560
2,238,181,117,615
-
246,795,854,196
(2,247,892,837,377)
49,880,532,824
5,765,350,525,712
-
-
182,640,570,473
-
-
513,248,085,755
1,619,185,389,472
3,418,687,849,567
-
1,247,000,000,000
500,000,000,000
-
-
-
-
-
-
628,004,271,857
-
-
358,813,778,719
2,866,185,389,472
4,277,501,628,286
6,525,394,465,663
1 - 5 years
3 - 12 months
(1,817,805,995,504)
-
2,360,000,000,000
-
-
-
1,817,054,968
45,617,205,717
-
2,407,434,260,685
-
259,400,035,407
63,907,001,438
125,656,236,944
140,664,991,392
-
-
-
589,628,265,181
Over 5 years
The Bank is exposed to currency risk in transactions denominated in foreign currencies. The Bank mainly uses VND and USD to
record its transactions. As the Bank’s financial statements are prepared in VND, they are under effects of exchange rate fluctuations
between foreign currencies and VND.
I.
Up to 1 month
Currency risk
1
Overdue within 3
months
4. Loans to customers
Total
LIQUIDITY GAP REPORT IN VND
639,939,197,618
395,483,168,560
2,360,000,000,000
493,591,708,392
98,775,653,000
421,926,378
7,298,254,521,712
3,246,312,648,808
635,623,908,496
14,528,463,535,346
719,374,971,090
259,400,035,407
63,907,001,438
10,419,105,199,124
1,989,189,278,630
1,239,362,775,040
339,050,332,302
139,013,139,933
15,168,402,732,964
Total
FORM B 05/TCTD
FORM B 05/TCTD
Overdue more than 3
months
3. Deposits at and loans to other credit
institutions
USD translated
Assets
EUR translated
63
-
9,420,124
71,519,545
11,346,386
134,000,000
226,286,055
4,104,217
161,718,235
54,109,746
3,700,486
2,653,371
226,286,055
Total
FORM B 05/TCTD
FORM B 05/TCTD
36. FINANCIAL INSTRUMENTS (CONTINUED)
(31,973,449)
(56,335,100)
9,420,124
19,232,460
48,303,608
881,743
4,292,443
79,114,203
59,000,000
63,500,000
125,516,175
1,368,072
684,036
45,772,682
8,033,436
54,109,746
3,700,486
2,653,371
47,140,754
69,181,075
2012
2011
VND
Sales of foreign currencies to
Vietnam National Petroleum
Corporation
equivalent (*)
USD
equivalent (*)
2,680,726,265
55,834,166,647,003
2,815,971,092
58,651,045,899,177
21,084,995,225
1,311,528
52,941
Liquidity gap
Others
4
-
Individual saving
accounts
3
-
Deposits from
economic
entities
2
-
-
-
Outflows
Deposits and
borrowings from
other credit
institutions
II.
1
Others
5
-
1,311,528
Loans to
customers
4
52,941
Deposits at and
loans to other
credit institutions
3
-
Balances with
the SBV
2
-
Cash on hand,
gold
1
-
1,311,528
52,941
Inflows
I.
Overdue within 3
months
22,798,856,837
The remuneration of management members is as follows:
2012
Overdue more than 3
months
VND
USD
Service charges for
management, operation of
databases and systems
Salary and bonuses
2011
VND
VND
11,124,860,124
10,184,990,571
(*) Foreign exchange rate: VND20,828/USD (2011: VND 20,828/USD)
31/12/2012
31/12/2011
VND
VND
Deposits of Vietnam National Petroleum
Corporation
297,965,286,640
553,538,643,087
Loans to member companies of Vietnam
National Petroleum Corporation
543,060,691,069
645,618,392,806
Balances with related parties are as follows
45,688,885
-
3,904,494
3,967,843
11,500,000
19,372,337
2,052,109
63,009,113
-
-
-
65,061,222
3 - 12 moths
1 - 3 months
Up to 1 month
LIQUIDITY GAP REPORT IN USD
65
During the year, the Bank had significant transactions with related parties as follows:
Annual report 2012
18,073,033
23,182,162
-
78,983
440,871
1,763,486
440,871
-
1,842,469
-
18,513,904
25,024,631
-
-
-
18,513,904
25,024,631
The Bank also is exposed to this threat when partners cannot fulfill their obligations as their ongoing concern is doubted. In order to
monitor credit risk, the Bank does not favorably provide high credit for a specific customer, a sector or industry, related customers or
sectors or industries, in a specific currency, a product or a region. Credit financing for a significant project or a significant amount is
executed in a collective manner (under the approvals of levels and votes of Credit Committee with the participation of members of the
Committee) to ensure objectivity.
37.RELATED PARTIES
Annual report 2012
64
The Bank is exposed to credit risk in lending activities, investing activities, when the Bank plays as the intermediary on behalf of
customers or third parties or when the Bank issues guarantees. In addition, the Bank also is exposed to credit risk in off-balance sheet
items through extended credit commitments or extended guarantees that the Bank has issued.
Credit risk management is based on the establishment of limits/structure of credit risk management and lending portfolio management.
1 - 5 years
Over 5 years
Credit risk
FORM B 05/TCTD
38.COMPARATIVE FIGURES
Comparative figures of the balance sheet are those of the audited financial statements for the year ended 31 December 2011.
Nguyen Quang Dinh
Nguyen Van Hao
29 March 2013
67
OP ER ATION A L
NETWORK
Annual report 2012
Annual report 2012
66
Bac Ninh
Hanoi
Quang Ninh
Hai Phong
OPERATIONAL NETWORK
Hai Duong
Card center
16th floor, Mipec Tower, No. 229
Tay Son st., Nga Tu So ward, Dong
Da dist., Hanoi city city
Tel: 04 62811298
Kim Lien Transaction office
No. 101A, C5, Kim Lien
Dormitory, Kim Lien ward,
Dong Da dist., Hanoi city
Tel: 04 3576 5536
Lo Duc Savings counter
No.125 Lo Duc st., Dong Mac
ward, Hai Ba Trung dist., Hanoi
city
Tel: 04 3972 8810
Hanoi Branch
No. 79 Ba Trieu st., Nguyen Du
ward, Hai Ba Trung dist., Hanoi
city
Tel: 04 3944 8899
Trung Kinh Transaction office
Tay Son Transaction office
1st foor, Mipec Tower, No. 229
Tay Son st., Nga Tu So ward,
Dong Da dist., Hanoi city
Tel: 04 6277 0297
Nguyen Cong Hoan Transaction
office
No. 84/9 Ngoc Khanh st., Giang Vo
ward, Ba Dinh dist., Hanoi city
Tel: 04 3771 1342
Ha Dong Transaction office
No. 12 Tran Phu st., Van Mo
ward, Ha Dong dist., Hanoi city
Tel: 04 3356 0710
Bach Khoa Transaction office
No.101-E7 Ta Quang Buu st., Bach
Khoa ward, Hai Ba Trung dist.,
Hanoi city
Tel: 04 3623 0737
68
Annual report 2012
Trung Hoa Transaction office
18T1-18T2 Trung Hoa Nhan
Chinh, Le Van Luong st., Nhan
Chinh ward, Thanh Xuan dist.,
Hanoi city
Tel: 04 6026 2666
Da Nang
Thai Thinh Transaction office
No. 192 Thai Thinhst., Lang Ha
ward, Dong Da dist., Hanoi city
Tel: 04 3514 9141
Nguyen Ngoc Nai Transaction
office
No. 227 Nguyen Ngoc Nai st.,
Khuong Mai ward, Thanh Xuan
dist., Hanoi city
Tel: 04 3566 6544
Khanh Hoa
Binh Duong
Dong Nai
Hochiminh city
Dong Thap
An Giang
Long An
Can Tho
Ba Ria Vung Tau
Truong Dinh Transaction office
No. 402-406 Truong Dinh st.,
Tuong Mai ward, Hoang Mai dist.,
Hanoi city
Tel: 04 3662 9236
No. 47 Trung Kinh st., Trung
Hoa ward, Cau Giay dist., Hanoi
city
Tel: 04 3783 4032
No. 552 Nguyen Van Cu st.,
Gia Thuy ward, Gia Lam dist.,
Hanoi city
Tel: 04 3872 7158
Vo Thi Sau Transaction office
No. 64-66 Vo Thi Sau st., Thanh
Nhan ward, Hai Ba Trung dist.,
Hanoi city
Tel: 04 3625 5075
Duc Giang Transaction office
No. 26 Duc Giang st., Duc
Giang ward, Long Bien dist.,
Hanoi city
Tel: 04 3655 7524
Hoang Mai Transaction office
Trau Quy Transaction office
No.7 Ngo Xuan Quang st.,
Trau Quy ward, Gia Lam dist.,
Hanoi city
Tel: 04 3876 0046
Box 7, Lotte 7 Den Lu 2, Hoang
Van Thu ward, Hoang Mai dist.,
Hanoi city
Tel: 04 3634 3591
Tay Do Transaction office
No.729 Quang Trung st., Phu
La ward, Ha Dong dist., Hanoi
city
Tel: 04 3311 9335
Kham Thien Savings counter
No. 340 Kham Thien st., Tho
Quan ward, Dong Da dist.,
Hanoi city
Tel: 04 3513 4602
Tu Liem Savings counter
Villa 205, Viglacera Complex
Dai Mo, Tu Liem dist., Hanoi
city
Tel: 04 3783 4191
Hoang Cau Transaction office
No. 1 Vo Van Dung, O Cho Dua
ward, Dong Da dist., Hanoi city
Tel: 04 3537 9561
Thang Long Branch
Le Hong Phong Transaction
office
No. 71 Le Hong Phong st.,
Dien Bien ward, Ba Dinh dist.,
Hanoi city
Tel: 04 3734 7818
An Duong Transaction office
No. 6 An Duong st., Yen Phu
ward, Tay Ho dist., Hanoi city
Tel: 04 3717 2890
Lac Long Quan Transaction
office
No. 105 Lac Long Quan st.,
Nghia Do ward, Cau Giay
dist.,Hanoi city
Tel: 04 3759 1819
OPERATIONAL NETWORK
Head Office
16th, 23rd and 24th floor, Mipec Tower, No. 229
Tay Son st., Nga Tu So ward, Dong Da dist.,
Hanoi city
Tel: (+84) 4 6281 1298
Fax: (+84) 4 6281 1299
Website: www.pgbank.com.vn
Email: dvkh.pgbank@petrolimex.com.vn
HA NOI
69
Annual report 2012
OPERATIONAL NETWORK
Annual report 2012
70
To Hieu Transaction office
No. 227 To Hieu st., Dich Vong
ward, Cau Giay dist., Hanoi city
Tel: 04 3791 6356
Pham Hung Transaction
office
CEO Tower, HH2-1, Me Tri Ha
New Urban Area, Pham Hung
st., Tu Liem dist., Hanoi city
Tel: 04 3787 6945
Tong Dan Transaction office
No. 18B Tong Dan st., Trang
Tien ward, Hoan Kiem dist.,
Hanoi city
Tel: 04 3939 3343
Lai Xa Transaction office
Box 1, Lotte 7, Lai Xa Industrial
Park, Kim Chung ward, Hoai
Duc dist., Hanoi city
Tel: 04 3366 0833
Phu Thuy Savings counter
Phu Thuy Hamlet, Phu Thi
ward, Gia Lam dist., Hanoi city
Tel: 04 3871 7803
Dong Anh Savings counter
No. 55, zone 1B, Dong Anh
ward, Dong Anh dist., Hanoi
city
Tel: 04 3965 6291
Minh Khai Transaction office
No.122 Minh Khai st., Minh
Khai ward, Hai Ba Trung dist.,
Hanoi city
Tel: 04 3974 4866/3974 4862
Khuong Dinh Savings
counter
No. 230A Khuong Dinh, Ha
Dinh ward, Thanh Xuan dist.,
Hanoi city
Tel: 04 3551 0445
Linh Nam Savings counter
No. 237 Linh Nam, Vinh Hung
ward, Hoang Mai dist., Hanoi
city
Tel: 04 3533 4360
Pham Viet Chanh Transaction
office
No. 19 Pham Viet Chanh
st., Nguyen Cu Trinh ward,
dist.1, Hochiminh city, Vietnam
Tel: 08 3926 0383
HAI PHONG
No. 188 Pasteur st., ward 6,
dist.3, Hochiminh city
No. 22 Ly Tu Trong st., Minh
Khai ward, Hong Bang dist.,
Hai Phong city
Tel: 08 3824 2021
HO CHI MINH CITY
No. 595 Hong Bang st, ward 6,
Tran Hung Dao Transaction
office
No. 223 Tran Hung Dao st.,
Tel: 08 3920 9101
Lac Long Quan Transaction
office
No. 482 Lac Long Quan st.,
ward 5, dist.11, Hochiminh city
Tel: 08 3975 2115
Ly Thai To Transaction office
No. 49 Ly Thai To st., ward 1,
Tel: 08 3830 1764
Le Hong Phong Transaction
office
No. 134/134A Le Hong Phong
st., ward 3, dist.5, Hochiminh
city
Tel: 08 3922 5368
Hoang Van Thu Transaction
office
No. 15 Hoang Van Thu st,
ward15, Phu Nhuan dist.,
Hochiminh city
Tel: 08 3995 9275
Da Nang Branch
No.143 - 145 Nguyen Van Linh
st., Thanh Khe dist., Da Nang
city
Tel: 0511 3689 777
Nguyen Thi Minh Khai
Transaction office
Cua Bac Savings counter
No. 40 Cua Bac, Truc Bach
ward, Ba Dinh dist., Hanoi city
Tel: 04 3715 4283
Sai Gon Branch
No. 2.5 - 2.8 Phan Xich Long
st., W.3, Binh Thanh dist.,
Hochiminh city
Tel: 08 3517 8171
DA NANG
Hong Bang Transaction
office
Tel: 08 3960 3318
Go Vap Transaction office
A0 Hanh Thong Tay Trade Area,
Quang Trung st., ward 11, Go
Vap dist., Hochiminh city
Tel: 08 3921 2560
Le Van Sy Transaction office
No. 380 Le Van Sy st., ward 2,
Tan Binh dist., Hochiminh city
Tel: 08 3991 5485
Tan Binh Transaction office
No. 374 - 374A, Truong Chinh
st., ward 13, Tan Binh dist.,
Hochiminh city
Tel: 08 3812 4107
Phu My Hung Transaction
office
No. 29 My Hoang group,
Nguyen Van Linh st., dist.7,
Hochiminh city
Tel: 08 5412 4706
Nha Be Transaction office
No. 67/3 Huynh Tan Phat st.,
Nha Be ward, Nha Be dist.,
Hochiminh city
Tel: 08 3873 8972
Tan Phu Transaction office
No. 313 Nguyen Son st., Phu
Thanh ward, Tan Phu dist.,
Hochiminh city
Tel: 08 3972 1055
Hai Phong Branch
Tel: 0313 822 238
Ngo Quyen Transaction
office
No. 147 Van Cao st., Dang
Giang ward, Ngo Quyen dist.,
Hai Phong city
Tel: 0313 727 596
Quang Trung Transaction
office
No. 73 Phan Boi Chau, Phan
Boi Chau ward, Hong Bang
dist., Hai Phong city
Tel: 0313 529 569
Le Chan Transaction office
No. 158 To Hieu st., Trai Cau
ward, Le Chan dist., Hai Phong
city
Tel: 0313 612 616
Lach Tray Transaction office
No. 416 Lach Tray st., Dang
Giang ward, Ngo Quyen dist.,
Hai Phong city
Tel: 0313 261 222
Cam Pha Transaction office
No. 258 Tran Phu st, Cam
Thanh ward, Cam Pha town,
Quang Ninh province
Tel: 0333 968 879
Sa Dec Transaction office
No.122 Hung Vuong st., ward
2, Sa Dec town, Dong Thap
province
Tel: 067 3774 615
Ha Tu Transaction office
No. 204, Group 1, Zone 4, Ha
Tu ward, Ha Long city, Quang
Ninh province
Tel: 0333 635 966
HAI DUONG
Hai Duong Branch
No. 1, Ho Chi Minh Avenue,
Hai Duong city, Hai Duong
Province
Tel: 0320 3848 600
DONG NAI
Dong Nai Branch
No. 16-17 Dong Khoi st., Bien
Hoa city, Dong Nai province
Tel: 061 6250 777
Dong Nam Cuong
Transaction office
No. 65, Thanh Nien st., Hai
Tan ward, Hai Duong city, Hai
Duong Province
Tel: 0320 3551 599
Ho Nai Transaction office
No. 149, Hanoi highway,
Hamlet 5A, Tan Bien ward, Bien
Hoa city, Dong Nai province
Tel: 061 6255 552
LONG AN
Long An Branch
No. 304 Hung Vuong st., Tan
An town, Long An province
Tel: 072 3525 454
BA RIA VUNG TAU
Ba Ria Vung Tau Branch
No. 05 Nguyen Thai Hoc st.,
ward 7, Vung Tau city, Ba Ria
Vung Tau province
Tel: 064 3543 441
KHANH HOA
Khanh Hoa Branch
No. 84 Quang Trung st., Loc
Tho ward, Nha Trang city,
Khanh Hoa province
Ben Luc Transaction office
No. 159 Nguyen Huu Tho st.,
Ben Luc ward, Ben Luc dist.,
Long An province
Tel: 072 3639 224
AN GIANG
An Giang Branch
No. 56-58 Nguyen Trai st., My
Long ward, Long Xuyen city,
An Giang province
Tel: 058 3521 919
Tel: 076 3941 249
BINH DUONG
BAC NINH
CAN THO
Binh Duong Branch
Can Tho Branch
No. 153 Cach Mang Thang Tam
st., Thu Dau Mot town, Binh
Duong province
Bac Ninh Branch
No. 10 Nguyen Dang Dao st.,
Tien An ward, Bac Ninh city,
Bac Ninh province
Tel: 0241 3893 500
No. 110 Cach mang thang 8,
Cai Khe ward, Ninh Kieu dist.,
Can Tho city
Tel: 0650 3865 678
Tel: 0710 3768 900
DONG THAP
Ninh Kieu Transaction office
No. 55A Nam Ky Khoi Nghia
st., Ninh Kieu dist., Can Tho city
Tel: 0710 3818 055
QUANG NINH
Quang Ninh Branch
No. 156B Le Thanh Tong st.,
Ha Long city, Quang Ninh
province
Tel: 0333 812 679
Dong Thap Branch
No.132-134 Nguyen Hue, ward
2, Cao Lanh city, Dong Thap
province
Tel: 067 3874 232
Cao Lanh Transaction office
No.198 Nguyen Trai st., Cao
Lanh city, Dong Thap province
Tel: 067 3822 030
Tu Son Savings counter
Thanh Ngoc Shopping center,
Pho Moi, Tu Son town, Bac
Ninh province
Tel: 0241 3745 798
OPERATIONAL NETWORK
OPERATIONAL NETWORK
Cau Dien Transaction office
No. 406 Ho Tung Mau st., Tu
Liem dist., Hanoi city
Tel: 04 3763 4613
Van Quan Savings counter
No. 84 Nguyen Khuyen, Van
Quan ward, Ha Dong dist.,
Hanoi city
Tel: 04 3354 0360
71
Annual report 2012
Duong Thanh Transaction
office
No. 12 Duong Thanh st., Cua
Dong ward, Hoan Kiem dist.,
Hanoi city
Tel: 04 3923 3760

annual report

Transcription

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