Vietnam Daily News

Vietcombank's 2010 audited profit up over 67b dong compared to un-audited figure

Written by Dailynews.vn Thursday, 15 December 2011 19:46

Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) has recently announced its revised fiscal report in 2010 according to the audited results and recommendations from the State Audit Office of Vietnam (SAV). Accordingly, its credit provision costs decreased 117 billion dong compared to independently audited result and its pre tax profit therefore increased nearly 90 billion dong and after tax profit increased 67.25 billion dong. The lender's total assets as of December 31, 2010 increased 125 billion dong against the independently audited result thanks to lower risk provision.
After being adjusted by SAV, the bank's financial statement reflected honestly and reasonably about its assets, capital source, business performance and the implementation of obligations to the state budget in the scope and limitations of mentioned audits.

Source: www.intellasia.net/news/articles/finance/111350929.shtml