AS OPTIVA PANK

ANNOUNCEMENT

17.05.99

 

COMMENTARY TO THE UNAUDITED FINANCIAL RESULTS 04/99

 

The volume of net profit earned by Optiva Pank in April was 2.16 

million EEK, and four-months profit 3.74 million EEK. As of the end of 

April, the bank’s balance sheet size was 3.3 billion EEK, decreasing in 

April by 0.6% (21.4 million EEK).

 

Monthly increase in clients’ deposits was 1.4 million EEK. The demand 

deposits decreased by 17.8 million EEK or 2.9%, and time deposits 

increased by 19.2 million EEK or 4.7%. At the end of April, the total 

volume of clients’ deposits amounted to 1.02 billion EEK. Of total 

volume of deposits, the demand deposits accounted for 57.8% (589.5 

million EEK) and time deposits for 42.2% (429.9 million EEK).

 

The volume of clearing accounts decreased in April by 13.7 million EEK 

(8.1%), borrowings from government by 11.1 million EEK (9.6%) and loans 

with banks by 11.1 million EEK.

 

As of the end of April, the bank’s interest-bearing assets accounted 

for 76.3% of the balance sheet volume, or 2.54 billion EEK. Monthly 

decrease in interest-bearing assets was 131.8 million EEK or 4.9%, 

including 23.6 million EEK (1.2%) decrease of net loan portfolio and 

66.5 million EEK (42.9%) decrease of time deposits with banks. 

 

Investments in shares increased from 391.6 million EEK to the level of 

461.5 million EEK (increase 69.9 million EEK or 17.9%). 

 

Long-term financial investments in shares decreased in April by 8.5 

million EEK (6.6%), other assets by 10.0 million EEK (6.9%), and cash 

in hand by 8.2 million EEK (11.1%).

 

The income structure in April was the following: net interest income 

after loan provisions accounted for 46.0% of total income, commissions 

and service fees received for 14.3%, income from currency exchange 

operations for 12.0%, income from investments in shares for 26.8% and 

other income for 1.0%.

 

As of the end of April, the level of bank’s capital adequacy was 

11.81%.

 

 

Piret Villman 

Manager of Budget and Planning Department

Tel. +372 6302 103