OPTIVA PANK

COMMENTARY TO THE FINANCIAL RESULTS

 

UNCONSOLIDATED FINANCIAL RESULTS, FEBRUARY 2000

 

Main balance sheet items of Optiva Pank at end-February:

 

(EEK thousands)

                       31.01.00      29.02.00

Total assets	     3,974,640     3,369,094

Total loans	           1,806,585     1,780,282

Deposits	           1,467,338     1,414,943

Capital adequacy         10.15%        10.90%

 

Optiva Pank's balance sheet volume dropped in February mainly due 

to the following two reasons:

 

· decreased volume of bonds issued due to maturity

· higher than usual volume of amounts in transit at end-January due 

to redemption of bonds, as the clearing date was 31.01.2000. Volume 

of amounts in transit will fall to the normal level after 

conclusion of this transaction.

 

Given the current market situation, the bank does not need to 

refinance the bonds since the bank's development perspectives allow 

to include finances at more favorable terms in the future.

 

 

Piret Villman

Head of Budget and Planning Dept.

+372 6 302 442

 

 

Ruth Laidvee

Market Communication Director

+372 6 302 105