HANSAPANK

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT 31.12.98-31.12.99



unaudited, EEK in millions                  Group              Bank         

                                        1999     1998     1999     1998

                                                                       

Net interest income                                                    

Interest income                      2,459.3  1,794.5  1,572.3  1,108.2

Interest expense                       922.7    770.8    655.7    542.5

Net interest income                  1,536.6  1,023.7    916.7    565.7

                                                                       

Fees and commissions, received         777.8    511.4    541.6    381.4

Fees and commissions, paid             222.2    156.9    217.9    126.0

Net fee income                         555.7    354.5    323.7    255.4

                                                                       

Trading income                         491.8    127.8    423.7     69.4

   incl. provisions on financial      (36.9)   (32.3)    (8.3)   (30.7)

instruments

Dividends                                4.5      7.0      2.3    101.8

Net income from insurance               57.6     59.4                  

activities

Other income                           113.0     69.1     35.3     14.9

Total revenue                        2,759.3  1,641.5  1,701.8  1,007.2

                                                                       

Operating expenses                                                     

Personnel expenses                     577.0    422.3    332.6    245.5

Data network expenses                  109.1     42.0     85.8     41.2

Administration expenses                395.2    342.2    212.4    194.2

Other expenses                         340.8    195.3    271.1    129.6

Depreciation                           205.8    143.0    110.3     73.0

Total operating expenses             1,627.9  1,144.8  1,012.3    683.5

Provision for credit and guarantee     482.5    594.3    231.6    324.0

losses

Recovered loans                         86.5     49.0     70.5     16.6

Operating profit                       735.4   (48.6)    528.4     16.3

Extraordinary income (expense), net   (25.2)                           

Income from subsidiaries and           109.1   (10.7)                  

affiliated companies

Net income before income tax           819.3   (59.3)    528.4     16.3

Appropriations                        (17.6)      0.0   (11.9)      0.0

Income tax                              15.2    (6.5)            (14.8)

Income/(Loss) attributable to            3.6      7.7               0.0

minority owners

Net income                             818.1   (60.5)    540.2     31.1





Mart Tõevere

Analyst

+372 6131 569