AS OPTIVA PANK

ANNOUNCEMENT

16.08.1999

 

COMMENTARY TO UNAUDITED FINANCIAL RESULTS OF OPTIVA PANK 07/99

 

The volume of net profit earned by Optiva Pank in July was 1.1 

million 

EEK; seven months’ net profit amounted to 8.7 million EEK. 

 

AS of end-July, the balance sheet volume of Optiva Pank was 3.3 

billion EEK. Balance sheet size decreased in July by 130.9

million EEK or 3.8%. 

 

Monthly increase of net loan portfolio amounted to 66.1 million EEK 

or 

3.8%. As of end-July, the volume of net loan portfolio totaled 1 

788.8 

million EEK, hence the share of net loan portfolio among total 

assets 

was 54%. As of the end of July, the allowances for potential loan 

losses totaled 9.3% gross loan portfolio, providing monthly 

increase 

of 5.8 million EEK or 3.3%.

 

Term and demand deposits with other banks decreased in July by 

121.9 

million EEK or 23.0%, investments in debt securities 18.4 million 

EEK 

or 2.6% and other assets 27.4 million EEK or 20.0%. Among the 

bank’s 

assets, the share of instruments with other banks was 12.3% and 

debt 

securities portfolio 21.1%.

 

Balance sheet volume decreased in July mainly due to decrease of 

clients’ deposits by 83.8 million EEK or 7.4%. 

 

The clients term deposits increased in July by 56.5 million EEK or 

14.0%. Total volume of the clients’ demand and term deposits 

amounted 

at the end of July 1 047.5 million EEK, whereas the demand deposits 

account for 62.6% and term deposits for 37.4%.

 

Amounts in collection decreased in July by 21.2% (41.4 million EEK) 

and other liabilities increased by 13.3% (7.8 million EEK).

 

The income structure in July was as follows: net interest income 

accounted for 36.1% of total revenue, commissions and service fees 

received for 27.6%, income from currency exchange for 14.9%, income 

from investments in shares for 19.4% and other income or 

2.0%.

 

As of end-July, the bank's capital adequacy level was 11.45%. 

Owners’ 

equity accounted for 10.47% of the bank’s total assets.

 

 

Piret Vilmann

Director of Budget and Planning Department

Optiva Pank

Tel. +372 6302 103