OPTIVA PANK

ANNOUNCEMENT

15.09.99

 

 

COMMENTARY TO THE FINANCIAL RESULTS 08/99

 

The volume of net profit earned by Optiva Pank in August 

was 982 thousand EEK; the bank's eight-months net profit 

is 9.7 million EEK. 

 

As of end-August, the balance sheet size of Optiva Pank 

stood at 3.36 billion EEK, increasing monthly by 49.1 

million EEK or 1.5%. 

 

Monthly increase of net loan portfolio amounted to 29.0 

million EEK or 1.6%. As of the end of August, the allowances 

for potential loan losses totaled 9.4% of gross loan portfolio. 

Deposits with other banks increased monthly by 37.2 million 

EEK or 9.1%. The bank's investments in debt securities dropped 

in August by 28.5 million EEK or 4.1% and other assets by 10.5 

million EEK or 9.6%. The share of net loan portfolio among 

total assets was 54.1%, deposits with other banks 13.3% and 

debt securities portfolio 19.9%.

 

The clients' term and demand deposits increased in August 8.0% 

(or 52.3 million EEK) and 7.6% (or 30.0 million EEK), respectively, 

providing 7.9% increase in total volume of deposits (82.3 

million EEK). The clients' deposits accounted for 33.6% of the bank's 

liabilities and owners' equity account.

 

Borrowings from other banks decreased monthly by 29.0 million 

EEK or 4.3%.

 

The income structure in August was as follows: net interest income 

accounted for 37.0% of total revenue, commissions and service fees 

received 30.7%, income from currency exchange 28.7%, income from 

investments in shares 1.7% and other income 1.9%.

 

As of end-August, the bank's capital adequacy level was 11.36%. 

Owners' equity accounted for 10.4% of the bank's total assets.

 

 

Piret Villman

Head of Budget and Planning Dept.

+372 63 02 503