HANSAPANK

ANNOUNCEMENT

16.04.99

 

HANSABANK-LATVIJA			

INCOME STATEMENT	

01.01-31.03.99		

			

(LVL)						    1Q'1998	       1998	    1Q'1999

			

Net interest income			

Interest income					  1,407,774	  6,733,625	  2,340,058

Interest expense				  (571,312)	(2,717,766)	  (875,889)

Net interest income				    836,462	  4,015,859	  1,464,169

			

Provisions released/ (written-off)		  (161,110)	(2,811,735)	  (149,907)

Recovered loans previously written-off		      7,737	     55,169	     40,765

Net interest income after provision for 

credit losses					    683,089	  1,259,293	  1,355,027

			

Non-interest income			

Foreign exchange gains and losses		    345,143	    890,973	    681,142

Trading income					   (99,531)	(1,133,925)	     49,031

Fees and commissions				    570,358	  2,827,516	  1,238,936

Other income					        587	     77,903	     21,351

Total non-interest income			    816,557	  2,662,467	  1,990,460

Total income after provision for credit losses	  1,499,645	  3,921,760	  3,345,487

			

Non-interest expenses			

Service fees					  (132,786)	  (581,761)	  (166,187)

Personnel expenses				  (535,129)	(2,206,314)	(1,060,065)

Data network expenses				   (33,725)	  (307,881)	  (180,780)

Administration expenses				  (413,425)	(2,134,194)	  (871,762)

Provisions for investments			   	-	   (66,000)	         -

Other operating expenses			   (31,768)	  (312,507)	  (142,206)

Depreciation					  (314,290)	(1,554,412)	  (785,130)

Total non-interest expenses			(1,461,123)	(7,163,069)	(3,206,130)

Net operating profit/ (loss) before taxation	     38,522	(3,241,309)	    139,357

Taxation	-	-	-

Profit/ (loss) for the year credited/ 

(charged) to reserves				     38,520	(3,241,309)	    139,357