HANSAPANK

INCOME STATEMENT



AUDITED INCOME STATEMENT 1999



year ended December 31                      GROUP            BANK     

(EEK in millions)                        1999     1998    1999     1998

                                                                  

Interest income                       2,459.3  1,794.5 1,607.0  1,108.2

Interest expense                        922.7    770.8   699.1    542.5

Interest income, net                  1,536.6  1,023.7   907.9    565.7

                                                                  

Fees and commissions received           777.8    511.4   541.6    381.4

Fees and commissions paid               222.1    156.9   183.2    126.0

Fees and commissions, net               555.7    354.5   358.4    255.4

                                                                  

Net result from financial operations    600.9    127.8   419.2     69.4

Dividends                                 4.5      7.0     2.3    101.8

Income from insurance activities         54.2     59.4    -        -

Other income                            113.0     69.1    35.3     14.9

Total income                          2,864.9  1,641.5 1,723.1  1,007.2

                                                                  

Operating expenses                                                

Personnel expenses                      576.9    422.3   336.2    245.5

Data network expenses                   109.1     42.0    85.8     41.2

Administrative expenses                 395.2    342.2   244.0    194.2

Other expenses                          336.2    195.3   270.6    129.6

Depreciation                            206.9    143.0   110.3     73.0

Total operating expenses              1,624.3  1,144.8 1,046.9    683.5

Losses on loans and guarantees          490.3    594.3   218.4    324.0

Recovered loans                          89.9     49.0    70.5     16.6

Operating profit                        840.2    -48.6   528.3     16.3

Extraordinary income, net               -25.2                    

Profit/loss from associates under        -2.9    -10.7     0.0      0.0

equity method

Profit before income tax                812.1    -59.3   528.3     16.3

Income tax                               -6.4     -6.5   -11.9    -14.8

Minority interest                         3.5      7.7          

Net profit for the year                 815.0    -60.5   540.2     31.1

                                                                  

Basic earnings per share (EEK)           10.5     -1.3     6.9      0.6

Diluted earnings per share (EEK)         10.4     -1.2     6.8      0.6





Mart Tõevere

Investor relations

+372 6131 569