An Binh Securities Joint Stock Co (ABS) has released the 2011 audited financial reports with profit of 1.2 billion dong.
However, the audit agent announced that the company hasn’t set up standby fund of 14.5 billion dong for bad debts.
In details, the company’s net revenue was posted at 239 billion dong, down 22 percent against the previous year, while consolidated profit of 42.7 billion dong, down 45.5 percent.
Last year, the enterprise management cost accounted for 40.3 billion dong, resulting in net profit of 2.4 billion dong.
In addition, the securities firm’s other profit was posted at negative 1.2 billion dong, leading to whole year after tax profit of 1.2 billion dong.
Up to December 31, 2011, ABS hasn’t set up standby fund for bad debts of 14.5 billion dong.