HANSAPANK

INCOME STATEMENT



HANSABANKA'S UNAUDITED PROFIT 01.01-31.12.99



(LVL in thousands, unaudited)            1999     1998

                                                      

Net interest income                                   

Interest income                        10,586    6,734

Interest expense                      (3,490)  (2,718)

Net interest income                     7,096    4,016

                                                      

Provisions released/ (written-off)    (2,808)  (2,812)

Recovered loans previously written-       442       55

off

Net interest income after provision     4,731         

for credit losses                                1,259

                                                      

Non-interest income                                   

Foreign exchange gains and losses       3,788      891

Trading income                            339  (1,134)

Dividends                                  36        -

Fees and commissions                    6,128    2,828

Other income                              179       78

Total non-interest income              10,470    2,662

Total income after provision for       15,201         

credit losses                                    3,922

                                                      

Non-interest expenses                                 

Service fees                            (744)    (582)

Personnel expenses                    (4,345)  (2,206)

Data network expenses                   (628)    (308)

Administration expenses               (3,626)  (2,134)

Other operating expenses              (1,528)    (313)

Depreciation                          (3,144)  (1,554)

Total non-interest expenses          (14,015)  (7,163)

Net operating profit/ (loss) before     1,186         

taxation                                       (3,241)

Profit/ (loss) for the year             1,186  (3,241)

credited/ (charged) to reserves





Mart Tõevere

Analyst

+372 6131 569