OPTIVA PANK

STATEMENT OF CHANGES IN EQUITY

31.12.98

 

Audited, consolidated

Ths. EEK

 

                                                  		     BANK                               GROUP

                                                             1998              1997              1998              1997

Share capital

   Balance at beginning of year                             41,182            41,182            41,182            41,182

   Issues of new shares                                    371,376                 0           371,376                 0

   Balance at year-end                                     412,558            41,182           412,558            41,182

 

Treasury shares1

   Balance at beginning of year                                  0                 0            -7,555           -10,599

   Decrease in treasury shares                                   0                 0             5,529             3,044

   Balance at year-end                                           0                 0            -2,026            -7,555

 

Paid-in capital over par

   Balance at beginning of year                             18,031            18,031            18,031            18,031

   Share premium from issuance of shares                    42,571                 0            42,571                 0

   Balance at year-end                                      60,602            18,031            60,602            18,031

 

General banking reserve

   Balance at beginning of year                             44,812            21,445            44,812            21,445

   Appropriations from retained earnings (74%)                   0            23,367                 0            23,367

   Balance at year-end                                      44,812            44,812            44,812            44,812

 

Mandatory reserve

   Balance at beginning of year                              4,118             2,332             4,118             2,332

   Appropriations from retained earnings                         0             1,786                 0             1,786

   Balance at year-end                                       4,118             4,118             4,118             4,118

 

Other reserves

   Balance at beginning of year                                547               547               547               547

   Balance at year-end                                         547               547               547               547

 

Retained earnings

   Balance at beginning of year                             80,303            33,904            68,497            33,904

   Profit (loss) for the financial year                   -264,973            74,862          -253,167            63,057

   Appropriations to the general banking reserve                 0           -23,367                 0           -23,367

   Appropriations to the mandatory reserve                       0            -1,786                 0            -1,786

   To deferred income tax liability                              0            -3,310                 0            -3,311

   Balance at year-end                                    -184,670            80,303          -184,670            68,497

 

TOTAL OWNERS' EQUITY                                       337,967           188,993           335,941           169,632

 

 

 

1 Number of treasury shares: Note 36