OPTIVA PANK

INCOME STATEMENT



GROUP CONSOLIDATED INCOME STATEMENT, Q1 2000



In thousand EEK                 31.03.99  31.12.99  31.03.00



Interest income                   60,591   229,234    56,269

Interest expense                 -37,971  -135,804   -31,315

Net interest income               22,620    93,430    24,954

Provisions for loan losses        -4,251   -84,640    -2,024

Recovered loans                      217     2,147       608

Net interest income               18,587    10,937    23,538

after provisions



Other operating income

Fees and commissions income       12,097    58,610    16,320

Income from foreign                8,044    37,145    11,815

exchange operations

Income from short-term             1,983    46,603     3,427

investment in shares

Income from long-term              6,223     5,451      -112

investment in shares

Other income                       4,960    24,367     4,070

Total other operating income      33,308   172,176    35,520



Total income                      51,894   183,113    59,058



Other operating expenses

Fees and commissions expense      -1,906   -15,110    -4,036

Personnel expenses               -17,921   -69,511   -20,224

Other administrative expenses    -10,175   -34,950    -9,372

Other operating expenses          -4,925   -30,237    -5,518

Assets revaluation                    25      -103         0

Total operating expenses         -34,902  -149,911   -39,150



Operating profit                  16,993    33,202    19,908

Depreciation                     -13,299   -53,619   -12,767

Profit before taxes                3,694   -20,417     7,141

Income tax                          -671    -1,335         0

Net Profit/Loss                    3,023   -21,752     7,141

Minority interest                    -30     1,112       239

Net profit/loss for the group      2,992   -20,640     7,380





Piret Villman

Head of Analysis Dept.

+372 63 02 103