Hansapank                     FINANCIAL RESULTS                 08/30/2002



HANSA CAPITAL FINANCIAL RESULTS, 6M 2002



Financial figures

                              30.06.02 Pro-forma Pro-forma Pro-forma

                                         30.06.02 31.12.01* 30.06.01*

At year end (in millions of                                          

euros)

Total assets                   1 137,4    1 347,1   1 180,5     984,2

Financial investments            995,2    1 175,7   1 028,8     845,1

  Leasing                        800,5      928,6     806,9     674,6

  Factoring                      121,7      151,2     133,9     107,1

  Loans                           25,0       44,4      48,3      34,7

  Assignment                       4,9        5,8       6,5       6,4

  Consumer financing              43,3       45,7      33,3      22,3

Allowance for doubtful            20,1      -23,0     -21,2     -19,2

receivables

Loan liabilities                 872,8    1 061,1     955,6     842,7

Owners' equity                    76,0       76,0      55,0      77,4

For the year (in millions of                                         

euros)

Net interest income               22,0       26,8      44,3      20,7

Net commission income              7,4        8,2      14,0       6,3

Net other operating income         2,8        3,1       6,0       3,0

Total revenue                     32,1       38,2      64,4      30,0

Net profit                        20,8       23,0      46,3      23,6

NIM (net interest margin)         4,1%       5,0%      4,4%      4,7%

ROA (return on assets)            3,9%       4,3%      4,4%      5,3%

ROE (return on operating         38,8%      44,2%     36,0%     36,3%

equity**)

Interest yield on average         8,5%       8,7%      9,9%      9,8%

assets

Cost-income ratio before         25,0%      24,2%     24,6%     24,8%

provisions

Net risk cost***                  0,5%       0,6%      0,5%      0,6%

EVA                                N/A       18,6      17,8      15,1

Number of employees                500        605       524       467



* Pro-forma figures also include the assets, liabilities and economic

results of SIA Hanza Lizings, which is not legally a part of Hansa

Capital Group from November 2001, but is organisationally still

managed by Hansa Capital.

** Return on operating equity = net income / (Group's average risk-

weighted assets x 11%)

*** Risk expense = (written-offs - recoveries)/average portfolio of

financial investments





The volume of the assets of Hansa Capital Group (hereinafter the

Group) increased by 166.6 million euro (14.1%) to 1 347.1 million

euros in the first half of 2002. Relating to volume, leasing portfolio

underwent the largest increase (15,1%) while relating to the growth

rate consumer factoring portfolio was the best performer during the

first half of the year (91.6%).



Estonia formed the major share of the Group's financial investment

(62.9%), followed by Lithuania (18.9%), Latvia (17.6%) and other

regions (0.6%). During the half-year the Lithuanian investment

portfolio saw the greatest rise (23.6%), the Estonian portfolio grew

by 16,8% while Latvia and other regions experienced negative growth

during the first half-year, -0,09% and -20,4% respectively.



Real estate and passenger cars are still the major funded asset types

by 30.2 % and  26.6% respectively; transport (19.7%) and business

services (19.1%) were the most credited sectors.



Of the net profit, 69.7% was earned in Estonia, followed by Lithuania

(19.7%), Latvia (9,6%) and other regions (0,97%).



During the first six months of this year several products were

introduced to the market or improved - in Lithuania a solution for

office equipment operating lease was launched and in February, a new

BRC Car Centre was opened in Vilnius; in Latvia, EGO card was further

developed by adding several new uses and a discount function; in

Estonia, the BRC Movables Sales Centre was opened in addition to the

Car Centre. A no-card transaction process was launched within EGO

project, allowing to apply for the consumer finance and receive the

goods immediately from the store. In addition, Hansa Leasing Estonia

concluded a cooperation agreement with the Tallinn City Government

Housing Economy Department for financing the renovation of apartment

buildings managed by apartment associations in the amount up to 100

million EEK and made the largest single investment in the Estonian

printing industry by funding the purchase of a roller printer for the

printing house for periodicals Unipress in the amount of 66 million

kroons.





Consolidated Income Statement

In millions of Euros



                         6 months    Pro-forma Pro-forma Pro-forma

                            02       6 months     01*     6 months

                                        02                  01*

Interest income                46,1       55,2      99,0       46,7

Interest expenses              24,2       28,4      54,7       26,0

Net interest income            22,0       26,8      44,3       20,7

                                                                   

Commission income               8,1        9,2      15,7        7,1

Commission expenses             0,8        1,0       1,7        0,8

Net other operating             2,8        3,1       6,1        3,0

income

TOTAL REVENUE                  32,1       38,2      64,4       30,0

                                                                   

Administrative expenses         8,1       10,0      16,6        7,6

Profit before                  24,0       28,2      47,9       22,5

provisions and

financial income

Net credit losses               2,7        3,6       2,2       -1,5

Net financial income           -0,2       -0,4       0,1        0,3

Operating profit               21,2       24,8      45,9       24,2

Income from equity              0,0        0,0       0,0       -0,0

investments

Extraordinary income           -0,0       -0,0      -0,0       -0,0

(expense)

PROFIT BEFORE INCOME           21,2       24,2      45,9       24,2

TAX AND MINORITY

INTEREST

Income tax                      0,4        1,2       1,6        0,6

Minority interest               0,0        0,0      -0,2       -0,0

NET PROFIT                     20,8       23,0      46,3       23,6



* Pro-forma figures also include the assets, liabilities and economic

results of SIA Hanza Lizings, which is not legally a part of Hansa

Capital Group (from November 2001), but is organisationally still

managed by Hansa Capital. Figures provided for 2000 are comparable to

the respective figures for 2001.







Consolidated Balance Sheet

In millions of Euros



ASSETS                         30.06.02  Pro-forma Pro-formaPro-forma

                                         30.06.02  31.12.01*30.06.01*

Cash and bank                     14,2        15,4     15,1      12,2

Due from customers                25,2        30,3     20,8      20,3

Financial investments            995,2     1 175,7  1 028,8     845,1

  Leasing                        800,5       928,7    806,9     674,6

  Factoring                      121,7       151,2    133,9     107,1

  Loans                           25,0        44,4     48,3      34,7

  Assignment                       8,9         5,8      6,5       6,4

  Small-scale financing           43,3        45,7     33,3      22,3

Allowance for doubtful           -20,1       -23,0    -21,2     -19,2

receivables

Net financial investments        975,2     1 152,7  1 007,6     825,9

Prepayments to suppliers          70,6        90,6     84,9      83,8

Stocks for resale                 21,7        25,2     16,4      13,0

Long-term equity investments       1,0         1,1      1,1       1,1

Tangible noncurrent assets        17,4        17,9     19,8      11,3

Intangible assets                  0,1         0,2      0,2       0,3

Accrued income and prepaid        11,8        13,8     14,6      16,4

expenses

TOTAL ASSETS                   1 137,4     1 347,1  1 180,5     984,2

                                                                     

LIABILITIES AND OWNERS'                                              

EQUITY

LIABILITIES                                                          

Loans                            872,8     1 061,1    955,6     842,7

Bonds                            110,0      109,98     89,0      18,5

Bills of exchange                  4,5         4,5      7,5      11,3

Liabilities to customers and      58,9       68,98     51,2      39,8

suppliers

Accrued expenses and prepaid      14,0       15,98     12,8      12,0

revenue

Other liabilities                  0,4         0,4      0,6       0,3

Deferred tax liabilities           0,7         0,7      0,7       0,1

Negative goodwill                  0,0         0,0      0,0       0,0

TOTAL LIABILITIES              1 061,2     1 261,7  1 117,5     906,7

Minority interest                  7,7         9,4      8,0       0,1

OWNERS' EQUITY                                 0,0      0,0       0,0

Share capital                      7,7         7,7      7,7       7,7

Reserves                           1,4         1,4      1,4       1,7

Retained earnings                 66,9        66,9     46,0      65,3

Unrealised exchange rate           0,1         0,1     -0,0       2,8

difference

TOTAL OWNERS' EQUITY              76,0        76,0     55,0      77,4

TOTAL LIABILITIES AND OWNERS'  1 137,4     1 347,1  1 180,5     984,2

EQUITY



* Pro-forma figures also include the assets, liabilities and economic

results of SIA Hanza Lizings, which is not legally a part of Hansa

Capital Group (from November 2001), but is organisationally still

managed by Hansa Capital. Figures provided for 2000 are comparable to

the respective figures for 2001.



Further information:

Mart Tooming

HC Board Chairman

Telephone: +372 613 1828

E-mail: mart.tooming@hansa.ee





Livia Kulm

Corporate Communications

+ 372 6133 816