Atnaujinta: 2024.11.24 08:07 (GMT+2)
HANSABANK
ANNOUNCEMENT
20.10.99
HANSABANKA’S 9-MONTH RESULTS
Hansabanka’s result for the first nine months of 1999 was a LVL 0.83 million profit.
The bank’s assets increased by 16.3% to LVL 168.1 million during the period.
During the first nine months of the year Hansabanka’s operating volumes increased
substantially – clients’ deposits increased by LVL 29.5 million, or 26.6% to LVL
140.4 million at the end of September. Whereas due to decreasing interest rates most
of the growth has come from demand deposits, while the volume of term deposits has
increased by a marginal 6.5%. The volume of demand deposits at the same time
increased by 35.0% to LVL 105.5 million at the end of September. Through deposit
growth, the bank’s assets grew by 16.3% or LVL 23.5 million during the first nine
months of the year, amounting to LVL 168.1 million at the end of September.
In the light of the unstable macroeconomic situation, Hansabanka’s loan growth in the
first nine months of the year remained fairly modest. The loan portfolio grew by
20.5% to LVL 74.8 million. As of September 30 total loans formed just 53.3% of
clients’ deposits and the net loan portfolio formed 42.5% of total assets (40.2% in
the beginning of the year).
For the nine-month period, the bank’s revenues amounted to LVL 10.43 million. Of this
LVL 7.04 million was formed by non-interest income and LVL 3.39 million by interest
income after provisions. The bank’s operating expenses amounted to LVL 9.60 million.
As at September 30, 1999 1 LVL = 25.31671 EEK
HANSABANK
Mart Toevere
Analyst
Tel. +372 6131 569
HANSABANKA
INCOME STATEMENT
(LVL in thousands) 9 m 1999 1998 9 m 1998
Net interest income
Interest income 7,385 6,734 4,790
Interest expense -2,557 -2,718 -1,899
Net interest income 4,828 4,016 2,892
Provisions released/ (written-off) -1,615 -2,812 -435
Recovered loans previously written-off 178 55 19
Net interest income after provision 3,391 1,259 2,475
for credit losses
Non-interest income
Foreign exchange gains and losses 2,523 891 362
Trading income 110 -1,134 -369
Dividends 30 - -
Fees and commissions 4,302 2,828 1,759
Other income 73 78 36
Total non-interest income 7,037 2,662 1,788
Total income after provision for credit losses 10,428 3,922 4,263
Non-interest expenses
Service fees -522 -582 -396
Personnel expenses -3,051 -2,206 -1,531
Data network expenses -475 -308 -125
Administration expenses -2,516 -2,134 -1,349
Other operating expenses -641 -313 -201
Depreciation -2,396 -1,554 -966
Total non-interest expenses -9,601 -7,163 -4,567
Net operating profit/ (loss) before taxation 827 -3,241 -304
Profit/ (loss) for the year credited/ (charged) to res 827 -3,241 -304
HANSABANKA
BALANCE SHEET
(LVL in thousands, unaudited) 30.09.99 31.12.98 30.09.98
Cash 10,660 9,754 4,802
Due from Central Bank 9,081 19,518 5,100
Due from credit institutions 31,206 28,181 10,552
Liquidity portfolio 24,272 8,937-
Securities held for trading purposes 677 1,501 9,062
Securities held for investment 4,467 2,080 1,084
Loans and advances to customers (net) 71,435 58,168 44,795
Short-term loans 33,485 28,296 24,369
Long-term loans 41,341 33,803 21,456
Provisions -3,391 -3,930 -1,031
Goodwill 1,428 1,544-
Fixed assets 12,198 12,614 8,115
Accrued interest receivable and other assets 2,694 2,300 2,380
Total assets 168,119 144,598 86,084
Due to Central Bank and government 2,784 3,415-
Due to other credit institutions 5,862 11,637 14,884
Deposits from customers 140,406 110,907 60,620
Demand deposits 105,543 78,188 41,662
Time deposits 34,863 32,719 18,958
Accrued interest payable and other liabilities 4,359 4,788 2,105
Provision for deferred taxation 160 160 160
Subordinated debt 2,733 2,702 2,332
Total liabilities 156,303 133,608 80,101
Common stock 14,543 14,543 6,600
Capital reserves 135 135 135
Accumulated losses -3,689 -448 -448
Profit for current year 827 -3,241 -304
Total liabilities and shareholders' equity 168,119 144,598 86,084
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