AS OPTIVA PANK

PROFIT AND LOSS ACCOUNT

(EEK in thousands)                                                            

 

Unconsolidated, unaudited

In thousand EEK                                                                                      

					                 3 months                   3 months

                                                       01.01-30.06.99             01.01-30.06.98

                                                                                     audited

 Interest income                                          125,854                    114,842

 Interest expense                                         -77,766                    -42,451

 Net interest income                                       48,089                     72,391

 Provisions for loan losses                                -6,359                    -10,913

 Recovered loans                                            1,021                         39

 Net interest income after provisions                      42,751                     61,516

 

 Other operating income

 Fees and commissions income                               22,051                     29,480

 Income from foreign exchange operations                   15,361                     18,493

 Income from short-term investment in shares                2,136                    -57,312

 Income from long-term investment in shares                17,208                      4,117

 Other income                                               1,086                        467

 Total other operating income                              57,842                     -4,755

 

 Total income                                             100,593                     56,761

 

 Other operating expenses

 Fees and commissions expense                              -6,104                     -5,810

 Personnel expenses                               

 Other administrative expenses                            -32,813                    -40,555

 Other operating expenses                                  -3,115                     -1,907

 Assets revaluation                                           -24                    -19,933

 Total operating expenses                                 -74,609                    -94,461

 

 Operating profit                                          25,984                    -37,700

 Depreciation                                             -18,371                     -6,754

 Profit before taxes                                        7,612                    -44,454

 Income tax                                                     0                          0

 Profit/Loss                                                7,612                    -44,454