HANSAPANK

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT (EUR), Q1 2001



Group                  Bank      

(EUR in mil, unaudited)     3 m   2000     3 m     3 m    2000     3 m

                           2001           2000    2001            2000

                                                                      

Interest income            64.5  216.6    44.1    40.0   136.1    28.0

Interest expense          -27.7  -90.4   -16.8   -21.2   -67.1   -11.9

Interest income, net       36.9  126.2    27.4    18.8    69.0    16.1

                                                                      

Fee income                 17.4   69.5    14.1     9.8    42.2     8.9

Fee expense                -3.7  -13.3    -3.3    -2.5   -11.0    -2.8

Fees and commissions, net  13.7   56.2    10.9     7.3    31.2     6.1

                                                                      

Net result from             7.6   36.0     9.4     4.9    24.9     5.8

financial operations

Dividends                     -    0.2     0.0     0.1     0.2     0.0

Net income from             0.7    1.5     0.2       0       0       -

insurance activities

Other income                2.3    6.6     1.3     0.2     1.1     0.2

Total income               61.2  226.7    49.2    31.3   126.5    28.2

                                                                      

Operating expenses                                                    

Personnel expenses         13.1   45.6     9.9     7.3    24.2     5.6

Data network expenses       1.9    7.4     1.3     1.4     4.8     1.0

Administrative expenses     6.0   26.0     5.7     3.1    13.7     3.3

Other expenses              6.3   25.2     5.2     4.4    18.0     4.2

  incl. goodwill            3.4   13.2     3.2     3.3    13.1     3.3

amortisation

Depreciation                4.7   17.3     3.8     2.5     9.3     2.1

Total operating            32.0  121.6    25.9    18.5    70.0    16.2

expenses

Losses on loans and        -7.8  -31.6    -3.8    -3.3   -15.9    -0.6

guarantees

Recovered loans             5.7    8.3     1.6     5.3     6.0     1.0

Profit from associates      0.1    0.4     0.0    16.3    35.4     9.8

under the equity method

Operating profit           27.1   82.3    21.1    31.0    81.9    22.1

Extraordinary                 -    1.4       -       -       -       -

income/(expense)

Profit before income       27.1   83.7    21.1    31.0    81.9    22.1

tax

Income tax                 -0.9   -1.3    -0.2       -       -       -

Minority interest          -0.1   -0.3    -0.1       -       -       -

Net profit                 26.2   82.1    20.8    31.0    81.9    22.1





Mart Tõevere

Head of investor relations

+372 613 1569