Hansapank                     FINANCIAL RESULTS                 05/02/2002



HANSA CAPITAL'S RESULTS , Q1 02



Financial Highlights

                               31.03.02  Pro-forma Pro-forma

                                         31.03.02* 31.12.01*

At year end (in millions of                                

Euros)

Total assets                    1 045,0    1 254,4  1 180,6

Financial investments             911,7    1 093,9  1 028,9

  Leasing                         734,4      863,8    806,9

  Factoring                       100,8      142,5    133,9

  Loans                            27,1       45,2     48,3

  Assignment                        5,2        6,5      6,5

  Consumer financing               34,2       35,9     33,3

Allowance for doubtful            -19,8      -22,5    -21,2

receivables

Loan liabilities                  825,8    1 014,1    955,6

Owners' equity                     64,8       64,8     55,0

For the year (in millions of                               

Euros)

Net interest income                10,9       13,3     44,3

Net commission income               3,4        3,8     14,0

Net other operating income          1,0        1,2      6,1

Total revenue                      15,3       18,3     64,4

Net profit                          9,5        9,5     46,3

Performance ratios                                         

(percentage)

NIM (net interest margin)         4,29%      4,32%    4,45%

ROA (return on assets)            3,76%      3,44%    4,45%

ROE (return on operating         37,56%     33,78%   35,96%

equity**)

Interest yield on average         8,98%      8,87%    9,94%

assets

Cost-income ratio before         24,74%     26,34%   24,61%

provisions

Risk expense***                   0,29%      0,34%    0,40%

EVA                                 N/A        8,6     32,4

Number of employees                 456        558      524



* Pro-forma figures also include the assets, liabilities and economic

results of SIA Hanza Lizings, which is not legally a part of Hansa

Capital Group from November 2001, but is organisationally still

managed by Hansa Capital.

** Return on operating equity = net income / (Group's average risk-

weighted assets x 15%)

*** Risk expense = (written-off receivables - recovered

receivables)/average portfolio of financial investments





The volume of financial investments of Hansa Capital Group (here in

after the Group) increased during the first quarter of 2002 by 65,1

million Euros (6,33%) to 1,093,9 million Euros.



In the regional structure of financial investments, Estonia has still

the largest share, accounting for 62,3% of the Group's financial

investments; Estonia is followed by Latvia with 19,3%, Lithuania with

17.7% and other with 0.7%. The biggest increase in the first quarter

of current year came from Lithuania (7,9%) and Estonia (7,6%)

financial investment portfolio, which was followed by Latvia (1,6%).

The Groups` financial investments have increased 42,1% during a year,

the fastest growth came from Lithuania.



In the structure of the leasing portfolio, the most important position

in terms of type of asset was held by real estate (29,8%) and cars

(25,9%). The most credited sectors are still transportation (20,5%),

business services (18,7%) and private individuals (16,2%). Factoring

turnovers` biggest part came from  domestic factoring (79,4%),

followed by export factoring (10,1%), tax factoring (6,2%) and import

factoring (4,2%).



Groups` net interest income had the following structure in terms of

countries: Estonia 64,4 %, Latvia 18,6%, Lithuania 16,3%, others 0.7%.

Net profit in Estonia was 66,3%, in Latvia 12,9%, in Lithuania 19,5%

and others 1,3%. Comparing with the same period last year the Groups`

general and administrative expences have increased 27,2%, it is mainly

due to the growths in amortisation, insurance and personal expences.

At the same time the revenue part is also constantly increasing

–comparing with the same period last year net interest income has

increased 28,9% and net commission income 37,6%.



Several new products were introduced to the market and functionality

of current products were enhanced over the first quarter of a current

year – new BRC car centre was opened in Vilnius and Office Solution

(office equipment operating lease) was launched in Lithuania; in

Estonia quick response to Ego card applications in stores. Apartment

associations purchase started to offer to apartment owner co-

operatives as well, also product conditions were made more favourable

and flexible.  Hansa Leasing Estonia in co-operation with Housing

Economy Development of Tallinn signed a contract in aim to finance

apartment associations renovation up to 100 million EEK.



Agnes Makk

Marketing manager

Tel: +372 613 1735

E-mail: agnes.makk@hansa.ee



Additional information:

Märten Kress

Analyst

Tel: +372 613 1926

E-mail: marten.kress@hansa.ee







Consolidated Income Statement

In millions of Euros

                         I Q 2002   Pro-forma Pro-forma

                                     I Q 2002*   2001*

Interest income               22,73     27,22    99,02

Interest expenses             11,86     13,92    54,68

Net interest income           10,87     13,30    44,35

                                                      

Commission income              3,78      4,27    15,67

Commission expenses            0,36      0,46     1,66

Net other operating            1,03      1,19     6,08

income

TOTAL REVENUE                 15,32     18,30    64,45

                                                      

Administrative expenses        3,79      4,82    16,56

Profit before                 11,53     13,48    47,89

provisions and

financial income

Net credit losses              1,64      2,09     2,17

Net financial income          -0,15     -0,26     0,13

Operating profit               9,74     11,13    45,85

Income from equity             0,00      0,00     0,04

investments

Extraordinary income          -0,00     -0,00     0,00

(expense)

PROFIT BEFORE INCOME           9,74     11,13    45,89

TAX AND MINORITY

INTEREST

Income tax                     0,22      0,56     1,58

Minority interest             -0,00      1,05    -1,99

NET PROFIT                     9,52      9,52    46,30



* Pro-forma figures also include the assets, liabilities and economic

results of SIA Hanza Lizings, which is not legally a part of Hansa

Capital Group (from November 2001), but is organisationally still

managed by Hansa Capital. Figures provided for 2000 are comparable to

the respective figures for 2001.





Consolidated Balance Sheet

In millions of Euros

ASSETS                                31.03.02 Pro-forma Pro-forma

                                               31.03.02* 31.12.01*

Cash and bank                             10,9      11,5      15,1

Due from customers                        21,3      28,2      20,8

Financial investments                    911,7   1 093,9   1 028,9

  Leasing                                734,4     863,8     806,9

  Factoring                              110,8     142,5     133,9

  Loans                                   27,1      45,2      48,3

  Assignment                               5,2       6,5       6,5

  Small-scale financing                   34,2      35,9      33,3

Allowance for doubtful receivables       -19,8     -22,5     -21,2

Net financial investments                891,9   1 071,4   1 007,7

Prepayments to suppliers                  66,6      83,7      84,9

Stocks for resale                         20,8      23,1      16,4

Long-term equity investments               1,0       1,1       1,1

Tangible noncurrent assets                21,5      22,1      19,8

Intangible assets                          0,2       0,2       0,2

Accrued income and prepaid expenses       10,8      13,1      14,6

TOTAL ASSETS                           1 045,0   1 254,4   1 180,6

                                                                  

LIABILITIES AND OWNERS' EQUITY                                    

LIABILITIES                                                       

Loans                                    825,8   1 014,1     955,6

Bonds                                     89,9      89,9      89,0

Bills of exchange                          5,5       5,5       7,5

Liabilities to customers and              45,1      55,2      51,2

suppliers

Accrued expenses and prepaid revenue      12,3      14,3      12,9

Other liabilities                          0,8       0,7       0,7

Deferred tax liabilities                   0,7       0,7       0,7

Negative goodwill                          0,0       0,0       0,0

TOTAL LIABILITIES                        980,1   1 180,4   1 117,6

Minority interest                          0,1       9,2       8,0

OWNERS' EQUITY                             0,0       0,0       0,0

Share capital                              7,7       7,7       7,7

Reserves                                   1,4       1,4       1,4

Retained earnings                         55,5      55,5      46,0

Unrealised exchange rate difference        0,2       0,2      -0,1

TOTAL OWNERS' EQUITY                      64,8      64,8      55,0

TOTAL LIABILITIES AND OWNERS' EQUITY   1 045,0   1 254,4   1 180,6



* Pro-forma figures also include the assets, liabilities and economic

results of SIA Hanza Lizings, which is not legally a part of Hansa

Capital Group (from November 2001), but is organisationally still

managed by Hansa Capital. Figures provided for 2000 are comparable to

the respective figures for 2001.





Mart Tõevere

Head of investor relations

+372 6131 569