Andmed seisuga: 28.11.2024 12:44 (GMT+2)
HANSAPANK
COMMENTARY TO FINANCIAL RESULTS
LATVIAN HANSABANKA'S AUDITED FINANCIAL RESULTS, 2001
Hansabank Group’s Latvian subsidiary, Hansabanka finished last year
with a net income of LVL 6.17 million according to audited results.
The bank’s ROE was 16.2% and ROA 1.4%. On December 31, 2001 the bank’s
total assets amounted to LVL 556.7 million.
In November 2001 Hansa Capital’s Latvian subsidiary, SIA Hanza
Lizings, was sold to Hansabanka to improve the funding structure of
the Group’s leasing and factoring activities and hence SIA Hanza
Lizings is fully consolidated into Hansabanka’s financial results.
Hansabanka strengthened its position as one of the two leading banks
in Latvia and became the largest bank for resident retail customers
during the year 2001. Hansabanka continued its rapid development
throughout the year - its clientele increased by 53% to 258 thousand
while its customer deposits grew by 48% to LVL 424.0 million at the
end of December. Supported by rapid deposit growth, the Bank’s total
assets increased by 55% to LVL 556.7 million. Bank’s shareholders’
equity increased by 60% during the year to LVL 48.6 million, boosted
by a LVL 12 million share issue and the net profit of the year.
On the asset side the loan portfolio increased by 93.7% to LVL 326.4
million during the year. LVL 103 million of that was formed by SIA
Hanza Lizings portfolio. At the end of December the allowance for
credit losses amounted to LVL 4.32 million, forming 1.32% of the loan
portfolio.
During the year Hansabanka significantly expanded its distribution
channels. The number of branches increased by 9 to 57 and number of
ATM’s rose by 40 to a total of 180. Another pleasant development was
the growing popularity of Internet banking. In 2001 Hansabanka became
the leading Internet bank in Latvia with 74,000 customers, or 28.7% of
the customer base, using hanza.net.
Hansabanka’s 2001 unaudited net profit was LVL 6.17 million, exceeding
last year’s result by 27%. During the year the bank’s total revenues
amounted to LVL 32.6 million (+28% from 2000) and operating expenses
(incl. depreciation) to LVL 21.4 million (+20%). Revenue distribution
was the following: net interest income 49%, net fees 26%, trading
income 23%, other income 2%. The largest cost items were personnel
expense with LVL 7.1 million, administrative expense with LVL 5.9
million and depreciation with LVL 4.8 million.
31.12.01 1 LVL = 1.783 EUR
Mart Tõevere
Head of investor relations
+372 6131 569