OPTIVA PANK

BALANCE SHEET



GROUP CONSOLIDATED BALANCE SHEET, 31.03.2000



In thousand EEK                                  31-03-99   31-12-99   31-03-00



ASSETS

Cash in hand                                       73,863     80,471     52,032

Demand deposits with banks                        379,688    515,598    595,283

Interest-bearing deposits with banks              155,026    313,416    150,087

Short-term investments in shares                   44,029     24,981      3,375

Securities purchased under                          9,063      8,999      5,000

resale agreements

Loans to clients                                2,174,761  1,940,657  1,981,241

Allowances for loan losses                       -234,153   -145,358   -130,713

Net loans                                       1,940,608  1,795,299  1,850,528

Long-term financial investments                   175,462    241,026    214,803

in debt securities

Long-term financial investments                   104,629    102,418     76,036

in shares

Tangible assets                                   230,335    195,761    206,947

Intangible assets                                 132,264    112,507    106,532

Other assets                                      128,682    107,592    136,635

TOTAL ASSETS                                    3,373,649  3,498,068  3,397,258



LIABILITIES

Current accounts                                  605,166    994,104    991,058

Time deposits                                     412,162    523,577    538,229

Loans from banks                                  697,594    701,403    623,099

Borrowings from government                        115,472     95,958     58,224

Bonds issued                                      783,512    506,328    214,142

Clearing accounts                                 169,257     89,362    385,539

Other liabilities                                  54,822     68,067     60,463

Subordinated debt                                 194,500    194,500    194,500

TOTAL LIABILITIES                               3,032,486  3,173,299  3,065,254

Minority share                                      2,731      7,583      7,341

OWNERS' EQUITY

Share capital                                     412,559    412,559    412,559

Treasury shares                                    -2,528       -142        -45

Share premium account                              60,602     60,602     60,602

General banking reserve                            44,811     44,812     44,812

Mandatory reserve capital                           4,118      4,118      4,118

Other reserves                                        547        547        547

Retained earnings from prior years               -184,670   -184,670   -205,310

Profit/Loss for the financial year                  2,992    -20,640      7,380

TOTAL OWNERS' EQUITY                              338,432    317,186    324,663



TOTAL LIABILITIES AND OWNERS' EQUITY            3,373,649  3,498,068  3,397,258





Piret Villman

Head of Analysis Dept.

+372 63 02 103