OPTIVA PANK

INCOME STATEMENT



OPTIVA GROUP UNAUDITED INCOME STATEMENT, 9 MONTHS 2000



PROFIT AND LOSS ACCOUNT

Consolidated 

unaudited 

EEK in thousand

                                         Group    Group    Group

                                        9 M 99  12 M 99   9 M 00



 Interest income                       176,677  229,234  178,302

 Interest expense                     -106,791 -135,804  -92,242

 Net interest income                    69,886   93,430   86,060

 Provisions for loan losses            -38,205  -84,640  -26,275

 Recovered loans                         1,025    2,147    3,243

 Net interest income after provisions   32,705   10,937   63,028



 Other operating income

 Fees and commissions income            40,451   58,610   52,967

 Income from foreign exchange 

 operations                             24,090   37,145   35,748

 Income from short-term investments     25,999   46,603    3,490

 Income from long-term investments      17,606    5,451      941

 Other income                           16,263   24,367   11,437

 Total other operating income          124,408   72,176  104,583



 Total income                          157,113  183,113  167,611



 Other operating expenses

 Fees and commissions expense           -9,725  -15,110  -13,611

 Personnel expenses                    -50,868  -69,511  -54,125

 Other administrative expenses         -38,734  -53,707  -38,814

 Other operating expenses               -7,592  -11,480   -8,610

 Assets revaluation                        -24     -103        0

 Total operating expenses             -106,943 -149,911 -115,160



 Operating profit                       50,170   33,202   52,451

 Depreciation                          -40,159  -53,619  -38,440

 Profit before taxes                    10,011  -20,417   14,011

 Income tax                               -312   -1,335        0

 Net income (loss) before minority 

 share of profits/losses(+/-)            9,700  -21,752   14,011

 Minority share of profits                 315    1,112      314

 Profit (loss)                          10,014  -20,640   14,325





PROFIT AND LOSS ACCOUNT

Unconsolidated 

unaudited 

EEK in thousands

                                          Bank	   Bank	    Bank

				        9 M 99  12 M 99   9 M 99

                                       

 Interest income                       185,582  250,011  179,422

 Interest expense                     -110,809 -147,234  -96,827

 Net interest income                    74,773  102,777   82,595

 Provisions for loan losses            -16,659   61,389  -23,095

 Recovered loans                         1,025    1,030    3,225

 Net interest income after provisions   59,139   42,418   62,725



 Other operating income

 Fees and commissions income            39,360   61,315   49,549

 Income from foreign exchange 

 operations			        25,433   36,819   35,101

 Income from short-term investments      3,233   21,987    3,312

 Income from long-term investments      18,808    1,306    9,781

 Other income                            1,973    4,536    1,583

 Total other operating income           88,806  125,963   99,326



 Total income                          147,944  168,382  162,051



 Other operating expenses

 Fees and commissions expense          -10,322  -16,077  -13,563

 Personnel expenses                    -46,379  -61,199  -48,845

 Other administrative expenses         -48,652  -67,243  -44,927

 Other operating expenses               -4,516   -7,228   -7,111

 Assets revaluation                        -24      -24        0

 Total operating expenses             -109,893 -151,771 -114,446



 Operating profit                       38,052   16,611   47,605

 Depreciation                          -27,751  -37,251  -33,280

 Profit before taxes                    10,300  -20,640   14,325

 Income tax                                  0        0        0

 Profit (loss)                          10,300  -20,640   14,325





Ruth Laidvee

Market Communications Director

+372 6 302 105