HANSABANK-LATVIA

INCOME STATEMENT

01.01-31.12.98

 

 

(audited, LVL)

   					    1998		   1997

 

 

 

Net interest income

Interest income				 6,733,625		 4,664,381

Interest expense			(2,717,766)		(1,855,606)

Net interest income			 4,015,859		 2,808,775

 

 

Provisions (provided for) / released	(2,811,735)		     8,793

Recovered loans previously written-off	    55,169		    35,602

Net interest income after provision  	 1,259,293		 2,853,170

for credit losses

 

 

Non-interest income

Foreign exchange gains and losses	   890,973		 1,430,846

Trading (loss) gain			(1,133,925)		   298,484

Fees and commissions			 2,827,516		 1,890,393

Other income				    77,903		    25,975

Total non-interest income		 2,662,467		 3,645,698

Total income after provision for   	 3,921,760		 6,498,868

credit losses

 

Non-interest expenses

Service fees				  (581,761)		  (492,029)

Personnel expenses			(2,206,314)		(2,100,268)

Data network expenses			  (307,881)		  (127,545)

Administration expenses			(2,134,194)		(1,405,130)

Provisions for investments		   (66,000)		     2,500

Other operating expenses		  (312,507)		  (266,268)

Depreciation				(1,554,412)		(1,227,425)

Total non-interest expenses		(7,163,069)		(5,616,165)

Net operating (loss) / profit 		(3,241,309)		   882,703

before taxation

Taxation				    -			    32,000

(Loss)/ profit for the year 		(3,241,309)		   914,703

(charged) / credited to reserves

 

 

 

HANSABANK Ltd.

 

Mart Toevere

Analyst

Tel. +372 6131 569