HANSAPANK

INCOME STATEMENT



PUBLIC REPORT CONSOLIDATED INCOME STATEMENT 1999



Consolidated Income Statement

(EEK in millions)                            1999      1998

Interest income                           2,459.3   1,885.1

  from banking operations                 1,670.0   1,167.8

  from leasing operations                   780.4     622.4

  other                                       8.9      94.9

Interest expenses                           922.7     873.7

  to banking operations                     916.1     868.3

  to leasing operations                                    

  other                                       6.6       5.5

Net interest income                       1,536.6   1,011.4

Net income from insurance activities         54.2      59.4

  premiums                                  190.5     165.9

  indemnities and change in reserves       -136.3    -106.5

Income from securities (excl. Equity        324.1     -64.9

method)

Income calculated under equity method        -2.9     -10.7

Net service fees                            555.7     354.5

  Fees and commissions received             777.8     511.4

  Fees and commissions paid                 222.2     156.9

Net result of financial operations          289.8     219.0

Administrative expenses                   1,202.0     886.3

  Salaries                                  451.8     325.9

  Social tax                                125.2      96.4

  Pension expense                                          

  Other administrative expenses             625.1     464.0

Change in the value of tangible and        -409.9    -245.7

intangible assets (+/-)

Net provisions                             -400.4    -550.3

Revaluation of long-term investments                       

(+/-)

Other operating income and expenses          92.0      54.3

  Other operating income                    104.5      67.1

  Other operating expenses                   12.5      12.8

Extraordinary income / expenses (+/-)       -25.2          

Profit before taxes                         812.0     -59.2

Income tax                                   -6.4      -6.5

  Income tax                                 15.2       9.5

  Change in deferred tax                    -21.6     -16.0

Minority ownerhship                           3.5       7.8

Net profit                                  815.0     -60.5





Mart Tõevere

Analyst

+372 6131 569