OPTIVA PANK

INCOME STATEMENT



BANK INCOME STATEMENT, Q1 2000



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



Interest income                     60,335    250,011     59,144

Interest expense                   -37,770   -147,234    -33,579

Net interest income                 22,565    102,777     25,565

Provisions for loan losses          -3,700    -61,389     -1,583

Recovered loans                        217      1,030        607

Net interest income after           19,082     42,418     24,589

provisions



Other operating income

Fees and commissions income         11,671     61,315     16,383

Income from foreign exchange         8,213     36,819     11,411

operations

Income from short-term               1,448     21,987      2,361

investment in shares

Income from long-term                4,865      1,306      2,493

investment in shares

Other income                           431      4,536        434

Total other operating income        26,628    125,963     33,082



Total income                        45,710    168,382     57,671



Other operating expenses

Fees and commissions expense        -1,892    -16,077     -3,992

Personnel expenses                 -16,358    -61,199    -18,453

Other administrative expenses      -15,168    -67,243    -14,344

Other operating expenses            -1,625     -7,228     -2,232

Assets revaluation                      23        -24          0

Total operating expenses           -35,020   -151,771    -39,021



Operating profit                    10,690     16,611     18,650

Depreciation                        -9,115    -37,251    -11,270

Profit before taxes                  1,575    -20,640      7,380

Income tax                               0          0          0

Net Profit/Loss                      1,575    -20,640      7,380





Piret Villman

Head of Analysis Dept.

+372 63 02 103