AS HANSAPANK				

ANNOUNCEMENT

16.04.99

 

 

HANSABANK LATVIA’S FIRST QUARTER RESULTS

 

 

Hansabank Latvia’s result for the first quarter of 1999 was a LVL 

0.14 million profit. The bank’s operating volumes have increased 

substantially during the period – the bank’s assets increased by LVL 

17.3 million or 11.8% during the first quarter to LVL 163.5 million.

Clients’ deposits have increased by LVL 16.3 million or 14.7% to LVL 

127.2 million. Demand deposits amounted to LVL 97 million while time 

deposits totalled LVL 30.2 million. At the same time the bank’s loan 

portfolio amounted to 57.6 million, or just 45.3% of deposits. Total 

shareholders’ equity stood at LVL 11.1 million at the end of March.

 

For the first quarter, the bank’s revenues amounted to LVL 3.34 

million. Of this LVL 1.24 million was formed by non-interest income 

and LVL 1.45 million by interest income. The bank’s operating 

expenses amounted to LVL 3.2 million in the first quarter.

 

As at March 31, 1999 1 LVL = 24.71582 EEK

 

 

 

AS HANSAPANK

 

 

 

Mart Toevere

Analyst

Tel. +372 6131 569