AS OPTIVA PANK

PROFIT AND LOSS ACCOUNT

01.01.-31.03.99

 

 

(EEK in thousands, consolidated)

 

                                                                                I Q 99           I Q 98

 

 Interest income                                                                 60,591           60,138

 Interest expense                                                               -37,971          -21,991

 Net interest income                                                             22,620           38,147

 Provisions for loan losses                                                      -4,251           -3,724

 Recovered loans                                                                    217               17

 Net interest income after provisions                                            18,587           34,440

 

 Other operating income

 Fees and commissions income                                                     12,097           18,200

 Income from foreign exchange operations                                          8,044           10,602

 Income from short-term investment in shares                                      1,983          -12,657

 Income from long-term investment in shares                                       6,223             -332

 Other income                                                                     4,960            5,791

 Total other operating income                                                    33,308           21,604

 

 Total income                                                                    51,894           56,044

 

 Other operating expenses

 Fees and commissions expense                                                    -1,906           -1,854

 Personnel expenses                                                             -17,921          -14,418

 Other administrative expenses                                                  -10,175          -11,162

 Other operating expenses                                                        -4,925           -4,541

 Assets revaluation                                                                  25             -250

 Total operating expenses                                                       -34,902          -32,225

 

 Operating profit                                                                16,993           23,819

 Depreciation                                                                   -13,299           -6,644

 

 Profit before taxes                                                              3,694           17,174

 Income tax                                                                        -671           -2,341

 Net income (loss) before minority share of profits (losses) (+/-)                3,023           14,833

 Minority share of profits                                                          -30              -76

 Profit (loss)                                                                    2,992           14,758