EESTI ÜHISPANK

ANNOUNCEMENT

15.10.1999

 

 

EESTI ÜHISPANK IN SEPTEMBER 1999

 

* Total amount of balance sheet: EEK 14.4 Billion, total profit EEK

75.1 Million

 

* Stable increase of corporate and private individuals deposits

 

* Private individuals housing loans triggering the growth of loan

portfolio

 

As of the end of September  1999, the balance sheet of Eesti  Ühispank

amounted  to  EEK  14.4  Billion,  after  having  increased  by EEK 56

Million, i.e. 0.4%,  during the month.  The balance sheet  grew by EEK

177  Million,  1.2%,  during  the  third  quarter of 1999. The balance

sheet is 6.8% larger than at the same date in 1998. The profit of  the

bank,  earned  in  September,  was  EEK  10.8  Million  and  the total

unaudited  profit  for  the  nine  months  of 1999 amounts to EEK 75.1

Million.

 

The  capital  adequacy  of  the  bank  stood  at  12.8%  at the end of

September.

 

The  growth  of  client  deposits  has  been  quite  different   among

different  client  groups.  The  government  deposits  have  witnessed

significant decrease by  EEK 411 Million  during the month.  Corporate

demand deposits,  from the  other hand,  have increased  by more  than

average:  by  EEK  217  Million  or  9.9%  during  the  month. Private

individual  deposits  have  increased  by  EEK  73  Million, i.e. 3.4%

during September. As for the whole third quarter, however, the  client

deposits have decreased by EEK 40  Million due to the EEK 262  Million

decrease in government deposits. Corporate deposits have increased  by

EEK  216  Million  (6%)  and  private  individuals  deposits by EEK 46

Million (2%) during the  last three months.   In the structure of  the

deposits, the  share of  demand deposits  has increased:  from 50%  of

total deposits as of June to 53% in September.

 

The loan portfolio has increased by EEK 247 Million during  September.

The increase also includes loans to subsidiaries in the amount of  EEK

97 Million which had been issued  as bonds previously. As a result  of

that, the  actual increase  of loan  portfolio accounted  for EEEK 150

Million during the month. Of that increase, EEK 105 Million is due  to

the  increase  in  private  individuals  housing  loans.  Due  to  the

increase  of  other  interest  earning  assets, the bank's deposits at

other banks decreased by EEK 125 Million over the month. Net loans  to

customers  accounted  for  53.2%  of  total  assets  as  at the end of

September.

 

In  the  income  structure  of  the  bank,  non-interest  income  have

continued  to  grow  steadily  due  to  the increase of the volumes of

transactions as well as the decrease of loan interest rates.

 

Margus Schults

Vice President

Phone +372 6656 600