OPTIVA PANK

INCOME STATEMENT



UNCONSOLIDATED INCOME STATEMENT, 11 MONTHS 2000



PROFIT AND LOSS ACCOUNT

Unconsolidated 

unaudited 

EEK in thousand

                                                 31-12-99  30-09-00   30-11-00



 Interest income                                  250,011   179,422    222,894

 Interest expense                                -147,234   -96,827   -119,698

 Net interest income                              102,777    82,595    103,197

 Provisions for loan losses                       -61,389   -23,095    -46,073

 Recovered loans                                    1,030     3,225     10,682

 Net interest income after provisions              42,418    62,725     67,806



 Other operating income

 Fees and commissions income                       61,315    49,549     61,690

 Income from foreign exchange operations           36,819    35,101     42,988

 Income from short-term investments                21,987     3,312      2,493

 Income from long-term investments                  1,306     9,781     12,550

 Other income                                       4,536     1,583      2,001

 Total other operating income                     125,963    99,326    121,721



 Total income                                     168,382   162,051    189,527



 Other operating expenses

 Fees and commissions expense                     -16,077   -13,563    -17,141

 Personnel expenses                               -61,199   -48,845    -60,488

 Other administrative expenses                    -67,243   -44,927    -55,810

 Other operating expenses                          -7,228    -7,111     -9,488

 Assets revaluation                                   -24         0          0

 Total operating expenses                        -151,771  -114,446   -142,926



 Operating profit                                  16,611    47,605     46,601

 Depreciation:                                    -37,251   -33,280   -123,736

    Incl.goodwill depreciation                    -27,736   -20,802   -108,638

 Profit before taxes                              -20,640    14,325    -77,135

 Income tax                                             0         0          0

 Profit (loss)                                    -20,640    14,325    -77,135





Piret Villman

Analysis Department

+372 6 302 100