financial statements
GENERAL INFORMATION
An Binh Commercial Joint Stock Bank (“the Bank”) is a commercial joint stock bank incorporated in the Socialist Republic of Vietnam.
The Bank was established under the Banking Establishment and Operation License No.120/GP-NHNN issued by the State Bank of Vietnam (“the SBV”) on 12 December 2018 replacing the Banking Establishment and Operation License No. 0031/NH-GP dated 15 April 1993, and Business Registration Certificate No. 0301412222 dated 17 May 1993 and amendments issued by the Department of Planning and Investment of Ho Chi Minh City. The Bank’s operation period is 99 years from 15 April 1993.
The current principal activities of the Bank include:
- Monetary intermediate activities including: To mobilise funds in the form of demand deposits, term deposits, saving deposits; to issue certificate of deposits, bonds and valuable papers; to borrow on a short-term basis from the SBV in the form of refinancing; to borrow from other credit institutions and finance companies; and to entrust, to be trusted, to provide agency services related to banking, insurance, and assets management in accordance with SBV’s regulations;
- To grant short-term, medium and long-term loans, finance leases and bank guarantees;
- Other financial services: to provide domestic, international settlement services and other banking services allowed by the SBV and international financial services;
- Other credit activities: to issue credit cards, to discount, re-discount financial instruments and valuable papers; to invest in equities; and
- Financial support activities: to provide banking financial advisory; to trade Government bonds, corporate bonds; to trade gold; to participate in bidding treasury bills; to trade financial instruments, treasury bills, the SBV’s notes and other valuable papers on the monetary market.
The Bank’s Head Office is located at 1st, 2nd, 3rd Floor, 36 Hoang Cau Street, O Cho Dua Ward, Dong Da District, Ha Noi. As at 31 December 2020, the Bank had one (1) Head Office, thirty-five (35) branches, one hundred and thirty (130) transaction offices located in cities and provinces throughout Vietnam.
Members of the Board of Directors during the year and at the date of this report are:
| Name | Position | Date of appointment |
|---|---|---|
| Mr. Dao Manh Khang | Chairman | 25 April 2018 |
| Mr. Vu Van Tien | Vice Chairman | 25 April 2018 |
| Mr. Luu Van Sau | Independent Member | 25 April 2018 |
| Mr. Nguyen Danh Luong | Independent Member | 25 April 2018 |
| Mr. Soon Su Long | Member | 25 April 2018 |
| Mrs. Iris Fang | Member | 25 April 2018 |
| Mr. Jason Lim Tsu Yang | Member | 12 June 2020 |
Members of the Board of Supervision during the year and at the date of this report are:
| Name | Position | Date of appointment |
|---|---|---|
| Mrs. Nguyen Thi Hanh Tam | Chief Supervisor | 25 April 2018 |
| Mrs. Pham Thi Hang | Full-time member | 25 April 2018 |
| Mrs. Nguyen Thi Thanh Thai | Part-time member | 25 April 2018 |
Members of the Board of Management and Chief Accountant during the year and at the date of this report are:
| Name | Position | Date of appointment/re-appointment/resignation |
|---|---|---|
| Mr. Le Hai | General Director Acting General Director |
Appointment on 30 Septermber 2020 Appointment on 1 April 2020 |
| Mr. Pham Duy Hieu | Acting General Director | Resignation on 1 April 2020 |
| Mr. Nguyen Manh Quan | Deputy General Director | Re-appointment on 20 June 2018 |
| Mr. Do Lam Dien | Deputy General Director | Re-appointment on 9 August 2020 |
| Mrs. Pham Thi Hien | Deputy General Director | Re-appointment on 14 January 2019 |
| Mrs. Nguyen Thi Huong | Deputy General Director | Re-appointment on 22 January 2019 |
| Mr. Lai Tat Ha | Deputy General Director | Appointment on 8 October 2019 |
| Mr. Le Manh Hung | Director of Corporate Banking Division, member of the Board | Re-appointment on 14 January 2019 |
| Mr. Tran Viet Thang | Director of Banking Technology Division, member of the Board | Re-appointment on 3 March 2021 |
| Mr. Nguyen Hong Quang | Director of SME Division, member of the Board | Appointment on 21 April 2020 |
| Mrs. Nguyen Thi Thuy Duong | Director of Human Resource Management Division | Resignation on 2 December 2020 Appointment on 2 June 2020 |
| Mrs. Nguyen Diep Anh | Director of Finance Department | Appointment on 29 June 2020 |
| Mr. Bui Quoc Viet | Chief Accountant | Re-appointment on 29 June 2020 |
The legal representative of the Bank during the year and at the date of this report is Mr. Dao Manh Khang, Chairman of the Board of Directors.
Mr. Le Hai - General Director is authorised to sign the accompanying separate financial statements for the financial year ended 31 December 2020 in accordance with Letter of Authorization No. 18/UQ-HDQT.20 dated 1 April 2020 by Chairman of the Board of Directors.
The auditor of the Bank is Ernst & Young Vietnam Limited.
INDEPENDENT AUDITORS’ REPORT ON THE SUMMARY SEPARATE FINANCIAL STATEMENTS
To: The Shareholders An Binh Commercial Joint Stock Bank
The summary separate financial statements prepared on 25 March 2021 and set out on pages from 95 to 100, which comprise the summary separate balance sheet as at 31 December 2020, the summary separate income statement and the summary separate cash flow statement for the year then ended, which are derived from the audited separate financial statements of An Binh Commercial Joint Stock Bank (“the Bank”) for the year ended 31 December 2020. We have expressed an unmodified opinion on the separate financial statements in our report dated 29 March 2021. Those separate financial statements and the summary separate financial statements do not reflect the effects of events that occurred subsequent to the date of our report on those separate financial statements.
These summary separate financial statements do not comprise all disclosures as required by the Vietnamese Accounting Standards, Vietnamese Accounting System for credit institutions and the statutory requirements relevant to the preparation and presentation of the separate financial statements. Accordingly, reading the summary separate financial statements is not a substitute for reading the separate financial statements of the Bank.
The Bank’s management is responsible for the preparation and fair presentation of these summary separate financial statements, which comprise the summary separate balance sheet as at 31 December 2020, the summary separate income statement and the summary separate cash flow statement for the year then ended for the purpose of publishing the financial statements in accordance with Paragraph 11, Article 1, Circular No. 49/2014/TT-NHNN dated 31 December 2014 on modification and supplementation to certain articles of the Financial Reporting Regime for credit institutions promulgated in Decision No. 16/2007/QD-NHNN dated 18 April 2007 and Chart of Accounts for credit institutions promulgated in Decision No. 479/2004/QD-NHNN dated 29 April 2004.
Our responsibility is to express an opinion on these summary financial statements based on our audit. We conducted our audit in accordance with Vietnamese Standard on Auditing No. 810 - “Engagements on summary financial statements”.
In our opinion, the summary separate financial statements - derived from the audited separate audited financial statements for the year ended 31 December 2020 of the Bank - are consistent, in all material respects, in compared with the audited separate financial statements in accordance with Paragraph 11, Article 1, Circular No. 49/2014/TT-NHNN dated 31 December 2014 on modification and supplementation to certain articles of the Financial Reporting Regime for credit institutions promulgated in Decision No. 16/2007/QD-NHNN dated 18 April 2007 and Chart of Accounts for credit institutions promulgated in Decision No. 479/2004/QD-NHNN dated 29 April 2004.
Ernst & Young Vietnam Limited
Nguyen Phuong Nga
Deputy General Director
Audit Practicing Registration No.: 0763-2019-004-1
Ho Chi Minh City, Vietnam
29 March 2021
Vu Tien Dung
Auditor
Audit Practicing Registration No.: 3221-2020-004-1
SUMMARY SEPARATE BALANCE SHEET
as at 31 December 2020
| Ending balance VND million |
Beginning balance VND million |
|
|---|---|---|
| ASSETS | ||
| Cash on hand | 579,345 | 757,147 |
| Balances with the State Bank of Vietnam | 996,258 | 6,802,645 |
| Due from and loans to other credit institutions | 28,367,461 | 17,776,242 |
| Due from other credit institutions | 24,795,071 | 9,627,855 |
| Loans to other credit institutions | 3,572,390 | 8,148,387 |
| Securities held for trading | 2,001,253 | - |
| Securities held for trading | 2,001,459 | - |
| Provision for securities held for trading | (206) | - |
| Derivatives and other financial assets | - | 49,812 |
| Loans to customers | 62,588,033 | 56,070,111 |
| Loans to customers | 63,293,151 | 56,802,965 |
| Provision for loans to customers | (705,118) | (732,854) |
| Purchased debts | 152,085 | 151,756 |
| Purchased debts | 153,234 | 153,234 |
| Provision for purchased debts | (1,149) | (1,478) |
| Investment securities | 16,676,923 | 16,463,267 |
| Available-for-sale securities | 15,003,710 | 15,001,050 |
| Held-to-maturity securities | 1,970,387 | 1,867,538 |
| Provision for investment securities | (297,174) | (405,321) |
| Long-term investments | 426,324 | 528,791 |
| Investments in subsidiaries | 260,000 | 260,000 |
| Other long-term investments | 182,978 | 268,791 |
| Provision for long-term investments | (16,654) | - |
| Fixed assets | 955,727 | 950,242 |
| Tangible fixed assets | 578,998 | 574,358 |
| Cost | 1,139,587 | 1,077,272 |
| Accumulated depreciation | (560,589) | (502,914) |
| Intangible fixed assets | 376,729 | 375,884 |
| Cost | 624,943 | 595,196 |
| Accumulated amortization | (248,214) | (219,312) |
| Other assets | 3,524,033 | 2,936,800 |
| Receivables | 1,795,895 | 1,093,907 |
| Interest and fees receivable | 772,150 | 851,290 |
| Other assets | 1,112,231 | 1,119,051 |
| Provision for other assets | (156,243) | (127,448) |
| TOTAL ASSETS | 116,267,442 | 102,486,813 |
| LIABILITIES | ||
| Due to and borrowings from other credit institutions | 26,502,701 | 16,734,947 |
| Due to other credit institutions | 22,904,484 | 8,465,970 |
| Borrowings from other credit institutions | 3,598,217 | 8,268,977 |
| Due to customers | 72,522,120 | 69,595,380 |
| Derivatives and other financial liabilities | 74,781 | - |
| Grants, entrusted funds and loans exposed to risks | 937,752 | 1,161,950 |
| Valuable papers issued | 5,605,930 | 5,191,040 |
| Other liabilities | 1,813,315 | 2,035,850 |
| Interest and fees payable | 1,394,148 | 1,546,071 |
| Other payables | 419,167 | 489,779 |
| TOTAL LIABILITIES | 107,456,599 | 94,719,167 |
| OWNERS’ EQUITY | ||
| Capital | 5,713,114 | 5,713,114 |
| Charter capital | 5,713,114 | 5,713,114 |
| Reserves | 766,850 | 603,103 |
| Retained earnings | 2,330,879 | 1,451,429 |
| TOTAL OWNERS’ EQUITY | 8,810,843 | 7,767,646 |
| TOTAL LIABILITIES AND OWNERS’ EQUITY | 116,267,442 | 102,486,813 |
| OFF-BALANCE SHEET ITEMS | ||
| Foreign exchange commitments | 153,781,044 | 98,781,375 |
| - Buying foreign currencies | 20,428,496 | 5,589,815 |
| - Selling foreign currencies | 20,403,616 | 5,593,406 |
| - Swap contracts | 112,948,932 | 87,598,154 |
| Irrevocable loan commitments | 34,501 | 32,771 |
| Letters of credit | 745,452 | 546,353 |
| Other guarantees | 4,525,446 | 4,342,411 |
| Other commitments | 2,464,767 | 2,553,650 |
| 161,551,210 | 106,256,560 | |
Prepared by
Mr. Nguyen Cong Anh
Head of General Accounting
Department
Ho Chi Minh City, Vietnam
25 March 2021
Reviewed by
Mr. Bui Quoc Viet
Chief Accountant
Approved by
Mr. Le Hai
General Director
SUMMARY SEPARATE INCOME STATEMENT
for the year ended 31 December 2020
| Current Year VND million |
Previous Year VND million |
|
| Interest and similar income | 6,647,934 | 6,492,320 |
| Interest and similar expenses | (4,303,385) | (4,054,971) |
| Net interest and similar income | 2,344,549 | 2,437,349 |
| Fee and commission income | 350,963 | 323,194 |
| Fee and commission expenses | (142,279) | (124,760) |
| Net fee and commission income | 208,684 | 198,434 |
| Net gain from trading of foreign currencies | 302,089 | 195,817 |
| Net gain from securities held for trading | 1,553 | - |
| Net gain from investment securities | 757,624 | 574,051 |
| Other operating income | 188,568 | 315,401 |
| Other operating expenses | (44,650) | (124,975) |
| Net gain from other operating activities | 143,918 | 190,426 |
| Income from investments in other entities | 16,232 | 22,227 |
| TOTAL OPERATING INCOME | 3,774,649 | 3,618,304 |
| Personnel expenses | (919,149) | (870,427) |
| Depreciation and amortization charges | (90,841) | (86,195) |
| Other operating expenses | (882,954) | (938,707) |
| TOTAL OPERATING EXPENSES | (1,892,944) | (1,895,329) |
| Net operating profit before provision expense for credit losses | 1,881,705 | 1,722,975 |
| Provision expenses for credit losses | (513,380) | (493,975) |
| PROFIT BEFORE TAX | 1,368,325 | 1,229,000 |
| Current corporate income tax expenses | (276,680) | (260,045) |
| Corporate income tax expenses | (276,680) | (260,045) |
| PROFIT AFTER TAX | 1,091,645 | 968,955 |
Prepared by
Mr. Nguyen Cong Anh
Head of General Accounting
Department
Ho Chi Minh City, Vietnam
25 March 2021
Reviewed by
Mr. Bui Quoc Viet
Chief Accountant
Approved by
Mr. Le Hai
General Director
SUMMARY SEPARATE CASH FLOW STATEMENT
for the year ended 31 December 2020
| Current Year VND million |
Previous Year VND million |
|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Interest and similar receipts | 6,724,084 | 6,674,871 |
| Interest and similar payments | (4,412,759) | (3,650,645) |
| Net fee and commission receipts | 208,684 | 235,514 |
| Net receipts from trading of securities, gold and foreign currencies | 999,575 | 775,824 |
| Other income | 65,210 | 116,343 |
| Collection of bad debts previously written off | 119,364 | 34,847 |
| Payments to employees and other operating expenses | (1,762,939) | (1,829,836) |
| Corporate income tax paid during the year | (318,285) | (228,438) |
| Net cash flows from operating activities before changes in operating assets and liabilities | 1,622,934 | 2,128,480 |
| Changes in operating assets | ||
| Increase in loans to other credit institutions | (333,875) | (2,378,515) |
| (Increase)/decrease in investment securities | (2,106,968) | 5,405,114 |
| Decrease in derivatives and other financial assets | 49,812 | 58,039 |
| Increase in loans to customers | (6,490,186) | (4,491,536) |
| Utilization of provision to write-off loans to customers, securities and long-term investments | (627,552) | (1,130,635) |
| (Increase)/decrease in other assets | (744,063) | 413,848 |
| Changes in operating liabilities | ||
| Decrease in borrowings from the State Bank of Vietnam | - | (6,753,044) |
| Increase in due to and borrowings from other credit institutions | 9,767,754 | 7,390,970 |
| Increase in due to customers | 2,926,740 | 7,048,081 |
| Increase in derivatives and other financial liabilities | 74,781 | - |
| Increase in valuable papers issued | 414,890 | 3,248,002 |
| (Decrease)/increase in grants, entrusted funds and loans exposed to risks | (224,198) | 9,960 |
| Decrease in other liabilities | (77,453) | (168,041) |
| Net cash from operating activities | 4,252,616 | 10,780,723 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchases of fixed assets | (91,710) | (121,258) |
| Proceeds from disposal of fixed assets | 1,047 | 125,233 |
| Receipt from disposal of long-term investments | 70,980 | - |
| Dividends received from long-term investments | 40,222 | 22,227 |
| Net cash from investing activities | 20,539 | 26,202 |
| CASH FLOWS FROM FINANCING ACTIVITY | ||
| Net cash used in financing activities | - | - |
| Net cash flows during the year | 4,273,155 | 10,806,925 |
| Cash and cash equivalents at the beginning of the year | 22,097,519 | 11,290,594 |
| Cash and cash equivalents at the end of the year | 26,370,674 | 22,097,519 |
Prepared by
Mr. Nguyen Cong Anh
Head of General Accounting
Department
Ho Chi Minh City, Vietnam
25 March 2021
Reviewed by
Mr. Bui Quoc Viet
Chief Accountant
Approved by
Mr. Le Hai
General Director
SUMMARY CONSOLIDATED BALANCE SHEET
as at 31 December 2020
| Ending balance VND million |
Beginning balance VND million |
|
| ASSETS | ||
| Cash on hand | 579,345 | 757,147 |
| Balances with the State Bank of Vietnam | 996,258 | 6,802,645 |
| Due from and loans to other credit institutions | 28,459,280 | 17,854,550 |
| Due from other credit institutions | 24,886,890 | 9,706,163 |
| Loans to other credit institutions | 3,572,390 | 8,148,387 |
| Securities held for trading | 2,001,253 | - |
| Securities held for trading | 2,001,459 | - |
| Provision for securities held for trading | (206) | - |
| Derivatives and other financial assets | - | 49,812 |
| Loans to customers | 62,588,033 | 56,070,111 |
| Loans to customers | 63,293,151 | 56,802,965 |
| Provision for loans to customers | (705,118) | (732,854) |
| Purchased debts | 152,085 | 151,756 |
| Purchased debts | 153,234 | 153,234 |
| Provision for purchased debts | (1,149) | (1,478) |
| Investment securities | 16,685,823 | 16,472,167 |
| Available-for-sale securities | 15,012,610 | 15,009,950 |
| Held-to-maturity securities | 1,970,387 | 1,867,538 |
| Provision for investment securities | (297,174) | (405,321) |
| Long-term investments | 166,324 | 268,791 |
| Other long-term investments | 182,978 | 268,791 |
| Provision for long-term investments | (16,654) | - |
| Fixed assets | 955,727 | 950,242 |
| Tangible fixed assets | 578,998 | 574,358 |
| Cost | 1,140,762 | 1,078,447 |
| Accumulated depreciation | (561,764) | (504,089) |
| Intangible fixed assets | 376,729 | 375,884 |
| Cost | 624,943 | 595,196 |
| Accumulated amortization | (248,214) | (219,312) |
| Investment properties | 69,980 | 71,227 |
| Cost | 74,030 | 74,030 |
| Accumulated depreciation | (4,050) | (2,803) |
| Other assets | 3,712,873 | 3,108,476 |
| Receivables | 1,747,900 | 1,038,953 |
| Interest and fees receivable | 776,959 | 855,728 |
| Other assets | 1,392,708 | 1,389,566 |
| Provision for other assets | (204,694) | (175,771) |
| TOTAL ASSETS | 116,366,981 | 102,556,924 |
| LIABILITIES | ||
| Due to and borrowings from other credit institutions | 26,502,701 | 16,734,947 |
| Due to other credit institutions | 22,904,484 | 8,465,970 |
| Borrowings from other credit institutions | 3,598,217 | 8,268,977 |
| Due to customers | 72,508,223 | 69,574,328 |
| Derivatives and other financial liabilities | 74,781 | - |
| Grants, entrusted funds and loans exposed to risks | 937,752 | 1,161,950 |
| Valuable papers issued | 5,605,930 | 5,191,040 |
| Other liabilities | 1,826,245 | 2,051,880 |
| Interest and fees payable | 1,394,142 | 1,545,671 |
| Other payables | 432,103 | 506,209 |
| TOTAL LIABILITIES | 107,455,632 | 94,714,145 |
| OWNERS’ EQUITY | ||
| Capital | 5,714,108 | 5,714,108 |
| Charter capital | 5,713,114 | 5,713,114 |
| Fund for capital expenditure | 994 | 994 |
| Reserves | 811,219 | 639,633 |
| Retained earnings | 2,386,022 | 1,489,038 |
| TOTAL OWNERS’ EQUITY | 8,911,349 | 7,842,779 |
| TOTAL LIABILITIES AND OWNERS’ EQUITY | 116,366,981 | 102,556,924 |
| OFF-BALANCE SHEET ITEMS | ||
| Foreign exchange commitments | 153,781,044 | 98,781,375 |
| - Buying foreign currencies | 20,428,496 | 5,589,815 |
| - Selling foreign currencies | 20,403,616 | 5,593,406 |
| - Swap contracts | 112,948,932 | 87,598,154 |
| Irrevocable loan commitments | 34,501 | 32,771 |
| Letters of credit | 745,452 | 546,353 |
| Other guarantees | 4,525,446 | 4,342,411 |
| Other commitments | 2,464,767 | 2,553,650 |
| 161,551,210 | 106,256,560 | |
Prepared by
Mr. Nguyen Cong Anh
Head of General Accounting
Department
Ho Chi Minh City, Vietnam
25 March 2021
Reviewed by
Mr. Bui Quoc Viet
Chief Accountant
Approved by
Mr. Le Hai
General Director
SUMMARY CONSOLIDATED INCOME STATEMENT
for the year ended 31 December 2020
| Current Year VND million |
Previous Year VND million |
|
| Interest and similar income | 6,684,626 | 6,525,900 |
| Interest and similar expenses | (4,303,080) | (4,047,648) |
| Net interest and similar income | 2,381,546 | 2,478,252 |
| Fee and commission income | 383,392 | 355,078 |
| Fee and commission expenses | (189,565) | (161,614) |
| Net fee and commission income | 193,827 | 193,464 |
| Net gain from trading of foreign currencies | 302,089 | 195,817 |
| Net gain from securities held for trading | 6,504 | - |
| Net gain from investment securities | 757,624 | 578,778 |
| Other operating income | 188,571 | 315,401 |
| Other operating expenses | (44,650) | (125,000) |
| Net gain from other operating activities | 143,921 | 190,401 |
| Net (loss)/gain from investments in other entities | (10,611) | 2,227 |
| TOTAL OPERATING INCOME | 3,774,900 | 3,638,939 |
| Personnel expenses | (928,879) | (877,938) |
| Depreciation and amortization charges | (92,088) | (87,441) |
| Other operating expenses | (837,356) | (905,601) |
| TOTAL OPERATING EXPENSES | (1,858,323) | (1,870,980) |
| Net operating profit before provision expense for credit losses | 1,916,577 | 1,767,959 |
| Provision expenses for credit losses | (513,380) | (493,975) |
| PROFIT BEFORE TAX | 1,403,197 | 1,273,984 |
| Current corporate income tax expenses | (285,540) | (273,309) |
| Corporate income tax expenses | (285,540) | (273,309) |
| PROFIT AFTER TAX | 1,117,657 | 1,000,675 |
| Basic earnings per share (VND/share) | 1,956 | 1,665 |
Prepared by
Mr. Nguyen Cong Anh
Head of General Accounting
Department
Ho Chi Minh City, Vietnam
25 March 2021
Reviewed by
Mr. Bui Quoc Viet
Chief Accountant
Approved by
Mr. Le Hai
General Director
SUMMARY CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 December 2020
| Current Year VND million |
Previous Year VND million |
|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Interest and similar receipts | 6,760,405 | 6,708,451 |
| Interest and similar payments | (4,412,060) | (3,643,322) |
| Net fee and commission receipts | 193,827 | 230,544 |
| Net receipts from trading of securities, gold and foreign currencies | 1,004,526 | 780,551 |
| Receipts from other activities | 65,213 | 116,318 |
| Collection of bad debts previously written off | 119,364 | 34,847 |
| Payments to employees and other operating expenses | (1,726,035) | (1,804,241) |
| Corporate income tax paid during the year | (328,515) | (239,297) |
| Net cash flows from operating activities before changes in operating assets and liabilities | 1,676,725 | 2,183,851 |
| Changes in operating assets | ||
| Increase in due from and loans to other credit institutions | (347,375) | (2,436,815) |
| (Increase)/decrease in investment securities | (2,106,968) | 5,396,214 |
| Decrease in derivatives and other financial assets | 49,812 | 58,039 |
| Increase in loans to customers | (6,490,186) | (4,491,536) |
| Utilization of provision to write-off loans to customers, securities and long-term investments | (627,552) | (1,130,635) |
| (Increase)/decrease in other assets | (752,734) | 170,244 |
| Changes in operating liabilities | ||
| Decrease in borrowings from the State Bank of Vietnam | - | (6,753,044) |
| Increase in due to and borrowings from other credit institutions | 9,767,754 | 7,390,970 |
| Increase in due to customers | 2,933,895 | 7,314,444 |
| Increase in derivatives and other financial liabilities | 74,781 | - |
| Increase in valuable papers issued | 414,890 | 3,248,002 |
| (Decrease)/increase in grants, entrusted funds and loans exposed to risks | (224,198) | 9,960 |
| Decrease in other liabilities | (80,217) | (158,942) |
| Utilization of funds | - | (30) |
| Net cash from operating activities | 4,288,627 | 10,800,722 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchases of fixed assets | (91,710) | (121,258) |
| Proceeds from disposal of fixed assets | 1,047 | 125,233 |
| Proceeds from investments in other entities | 85,813 | - |
| Dividends received from long-term investments | (10,611) | 2,227 |
| Net cash used in investing activities | (15,461) | 6,202 |
| CASH FLOWS FROM FINANCING ACTIVITY | ||
| Net cash used in financing activities | - | - |
| Net cash flows during the year | 4,273,166 | 10,806,924 |
| Cash and cash equivalents at the beginning of the year | 22,097,527 | 11,290,603 |
| Cash and cash equivalents at the end of the year | 26,370,693 | 22,097,527 |
Prepared by
Mr. Nguyen Cong Anh
Head of General Accounting
Department
Ho Chi Minh City, Vietnam
25 March 2021
Reviewed by
Mr. Bui Quoc Viet
Chief Accountant
Approved by
Mr. Le Hai
General Director
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