HANSABANK

ANNOUNCEMENT

20.10.99

 

 

HANSABANKA’S 9-MONTH RESULTS

 

 

Hansabanka’s result for the first nine months of 1999 was a LVL 0.83 million profit. 

The bank’s assets increased by 16.3% to LVL 168.1 million during the period.

 

During the first nine months of the year Hansabanka’s operating volumes increased 

substantially – clients’ deposits increased by LVL 29.5 million, or 26.6% to LVL 

140.4 million at the end of September. Whereas due to decreasing interest rates most 

of the growth has come from demand deposits, while the volume of term deposits has 

increased by a marginal 6.5%. The volume of demand deposits at the same time 

increased by 35.0% to LVL 105.5 million at the end of September. Through deposit 

growth, the bank’s assets grew by 16.3% or LVL 23.5 million during the first nine 

months of the year, amounting to LVL 168.1 million at the end of September.

 

In the light of the unstable macroeconomic situation, Hansabanka’s loan growth in the 

first nine months of the year remained fairly modest. The loan portfolio grew by 

20.5% to LVL 74.8 million. As of September 30 total loans formed just 53.3% of 

clients’ deposits and the net loan portfolio formed 42.5% of total assets (40.2% in 

the beginning of the year).

 

For the nine-month period, the bank’s revenues amounted to LVL 10.43 million. Of this 

LVL 7.04 million was formed by non-interest income and LVL 3.39 million by interest 

income after provisions. The bank’s operating expenses amounted to LVL 9.60 million.

 

As at September 30, 1999 1 LVL = 25.31671 EEK

 

HANSABANK

 

 

Mart Toevere

Analyst

Tel. +372 6131 569

 

 

 

HANSABANKA

INCOME STATEMENT

(LVL in thousands)                                         9 m 1999         1998    9 m 1998

 

Net interest income

Interest income                                               7,385        6,734        4,790

Interest expense                                             -2,557       -2,718       -1,899

Net interest income                                           4,828        4,016        2,892

 

Provisions released/ (written-off)                           -1,615       -2,812         -435

Recovered loans previously written-off                          178           55           19

Net interest income after provision                           3,391        1,259        2,475

for credit losses

 

Non-interest income

Foreign exchange gains and losses                             2,523          891          362

Trading income                                                  110       -1,134         -369

Dividends                                                        30 -            -

Fees and commissions                                          4,302        2,828        1,759

Other income                                                     73           78           36

Total non-interest income                                     7,037        2,662        1,788

Total income after provision for credit losses               10,428        3,922        4,263

 

Non-interest expenses

Service fees                                                   -522         -582         -396

Personnel expenses                                           -3,051       -2,206       -1,531

Data network expenses                                          -475         -308         -125

Administration expenses                                      -2,516       -2,134       -1,349

Other operating expenses                                       -641         -313         -201

Depreciation                                                 -2,396       -1,554         -966

Total non-interest expenses                                  -9,601       -7,163       -4,567

Net operating profit/ (loss) before taxation                    827       -3,241         -304

Profit/ (loss) for the year credited/ (charged) to res          827       -3,241         -304

 

 

 

HANSABANKA

BALANCE SHEET

(LVL in thousands, unaudited)                             30.09.99     31.12.98     30.09.98

 

Cash                                                        10,660        9,754        4,802

Due from Central Bank                                        9,081       19,518        5,100

Due from credit institutions                                31,206       28,181       10,552

Liquidity portfolio                                         24,272        8,937-

Securities held for trading purposes                           677        1,501        9,062

Securities held for investment                               4,467        2,080        1,084

Loans and advances to customers (net)                       71,435       58,168       44,795

    Short-term loans                                        33,485       28,296       24,369

    Long-term loans                                         41,341       33,803       21,456

    Provisions                                              -3,391       -3,930       -1,031

Goodwill                                                     1,428        1,544-

Fixed assets                                                12,198       12,614        8,115

Accrued interest receivable and other assets                 2,694        2,300        2,380

Total assets                                               168,119      144,598       86,084

 

Due to Central Bank and government                           2,784        3,415-

Due to other credit institutions                             5,862       11,637       14,884

Deposits from customers                                    140,406      110,907       60,620

    Demand deposits                                        105,543       78,188       41,662

    Time deposits                                           34,863       32,719       18,958

Accrued interest payable and other liabilities               4,359        4,788        2,105

Provision for deferred taxation                                160          160          160

Subordinated debt                                            2,733        2,702        2,332

Total liabilities                                          156,303      133,608       80,101

 

Common stock                                                14,543       14,543        6,600

Capital reserves                                               135          135          135

Accumulated losses                                          -3,689         -448         -448

Profit for current year                                        827       -3,241         -304

Total liabilities and shareholders' equity                 168,119      144,598       86,084