AS OPTIVA PANK

PROFIT AND LOSS ACCOUNT

01.01-31.03.99

 

 

unaudited, unconsolidated

EEK in thousands                   

                                                                 3 months            3 months

                                                           01.01-31.03.98     01.01-31.03.99

 

 Interest income                                                   58,383             60,335

 Interest expense                                                 -20,569            -37,770

 Net interest income                                               37,814             22,565

 Provisions for loan losses                                        -3,516             -3,700

 Recovered loans                                                       17                217

 Net interest income after provisions                              34,314             19,082

 

 Other operating income

 Fees and commissions income                                       14,550             11,671

 Income from foreign exchange operations                           10,593              8,213

 Income from short-term investment in shares                      -12,685              1,448

 Income from long-term investment in shares                             0              4,865

 Other income                                                          36                431

 Total other operating income                                      12,494             26,628

 

 Total income                                                      46,808             45,710

 

 Other operating expenses

 Fees and commissions expense                                      -1,863             -1,892

 Personnel expenses                                               -12,747            -16,358

 Other administrative expenses                                    -16,254            -15,168

 Other operating expenses                                          -1,004             -1,625

 Assets revaluation                                                  -250                 23

 Total operating expenses                                         -32,119            -35,020

 

 Operating profit                                                  14,689             10,690

 Depreciation                                                      -3,402             -9,115

 Profit before taxes                                               11,287              1,575

 Income tax                                                          -659                  0

 Profit/Loss                                                       10,628              1,574