Disclosure of Quarter IV/2023's consolidated, non-consolidated financial statements; explanation of profit fluctuations and adjustments on 2022's audited FS
a) Quarter IV/2023's consolidated, non-consolidated financial statements (FS)
Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) disclose Quarter IV/2023's consolidated, non-consolidated FS and the explanation of profit fluctuations, including:
- Statement of financial position;
- Income Statement;
- Cssh flow statement;
- Notes to the FS, in which the explanation of profit fluctuations is presented in Note 24.
b) Retroactive adjustment of 2022 audited FS according to the State Audit
VietinBank received the dispatch No.297/KTNN-TH dated 29/12/2023 of the State Audit on sending VietinBank’s 2022 audit report.
Accordingly, VietinBank has adjusted 2022’s consolidated and non-consolidated FS, audited by the independent audit according to audit reports of the State Audit. As the State Audit adjusted the data on the consolidated statement of financial position and consolidated income statement only, VietinBank had to adjust the non-consolidated statement of financial position and non-consolidated income statement respectively (The cash flow statement is unadjusted). VietinBank retroactively adjusted 2022 FS’s data starting from Quarter IV/2023’s FS (for the beginning data), the figures on Quarter I, Quarter II, Quarter III/2023’s FS remain unchanged.
The reasons for the difference in 2022 FS between the State Audit report and the FS audited by VietinBank's independent audit include:
- For the statement of financial position: The State Audit has adjusted the following items: loans to customer, provisions for credit losses of loans to customer, fixed assets, other assets, other liabilities, undistributed profit after taxes and a number of criterias outside the financial status report.
- For the income statement: The State Audit adjusted the following items: income from other activities, operating expenses, provision expenses for credit losses and corporate income tax expenses.
The consolidated and non-consolidated FS for Quarter IV/2023 published with this dispatch (section a) have restated the data at the beginning of the period according to the State Audit of Vietnam’s adjustment as above and Appendix attached.
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