OPTIVA PANK

INCOME STATEMENT

01.01-31.12.98

 

 

Audited, consolidated

Ths. EEK

                                                                                           BANK                               GROUP

                                                                                    1998              1997              1998              1997

 

Interest revenue                                                Note 25          208 042           148 025           210 234           151 949

Interest revenue from banking activities                                         208 042           148 025           177 280           132 387

Interest revenue from leasing activities                                               0                 0            30 539            19 562

Other interest revenue                                                                 0                 0             2 414                 0

Interest expense                                                Note 26         - 84 952          - 54 553          - 87 332          - 54 433

Interest expense from banking activities                                        - 84 952          - 54 553          - 84 090          - 54 433

Interest expense from leasing activities                                               0                 0                 0                 0

Other interest expense                                                                 0                 0           - 3 242                 0

Net interest income (loss) (+/-)                                Note 27          123 091            93 472           122 902            97 516

Income from securities                                                          - 31 163             8 575          - 36 457             2 190

Equity method gains (losses) (+/-)                                                 5 097             8 573            -  197             2 190

Profit (loss) on sale of long-term financial investments                        - 38 026                 2          - 38 026                 0

Dividends from portfolio investments                                               1 766                 0             1 766                 0

Fees and commissions income                                                       39 881            46 974            41 882            53 003

Fees and commissions revenue                                    Note 28           51 733            66 808            53 848            72 850

Fees and commissions expense                                    Note 29         - 11 852          - 19 834          - 11 966          - 19 847

Net profit (loss) on financial operations (+/-)                 Note 30         - 24 326            79 548          - 17 739            77 732

General administrative expenses                                                - 128 770          - 94 702         - 111 843         - 106 228

Salaries expense                                                Note 31         - 41 143          - 34 504          - 45 871          - 40 503

Social security expense                                                         - 13 638          - 11 146          - 15 164          - 12 388

Other administrative expenses                                   Note 32         - 73 989          - 49 052          - 50 808          - 53 338

Value adjustments in tangible and intangible assets (+/-)                       - 14 487          - 13 246          - 29 261          - 18 470

Value adjustments in respect of loans and off-balance sheet items (+/-)        - 206 417          - 20 644         - 170 905          - 21 934

Value adjustments in respect of long-term investments (+/-)                     - 50 158           - 1 488          - 88 775           - 1 486

Other operating income                                                           - 8 340           - 3 514             2 321             4 461

Other operating revenue                                                              875               694            44 716            17 176

Other operating expenses                                                         - 9 215           - 4 207          - 42 395          - 12 715

Profit (loss) before taxes (+/-)                                                 -300690             94976           -287876             86783

Income tax expense                                              Note 33           35 716          - 20 113            34 941          - 23 454

Current period tax                                                                     0          - 14 941           - 4 381          - 15 682

Change in deferred income tax liability (+/-)                                     35 716           - 5 172            39 322           - 7 772

Net income (loss) before minority share of profits (losses) (+/-)              - 264 974            74 862         - 252 935            63 328

Minority share of profits                                                              0                 0            -  232            -  272

PROFIT (LOSS) FOR THE FINANCIAL YEAR (+/-)                                       -264974             74862           -253167             63056

 

 

Basic earnings per share (EEK)                                  Note 36           -29.70             18.18            -28.44             15.51

Diluted earnings per share (EEK)                                Note 36           -29.70             17.20            -28.44             14.68