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EESTI ÜHISPANK
ANNOUNCEMENT
15.03.99
32.Liquidity risk
Maturities of assets and liabilities
Group (31.12.1998)
>1 m 1-3 m 3-12 m 1-5 y <5 y Total
Cash and due from
central bank 1,770.8 1,770.8
Due from
other banks 730.6 .0 71.0 5.8 5.0 812.4
Dealing securitie 37.7 26.2 63.9
Loans and advances
to customers 1,044.6 1,171.2 2,551.5 4,091.9 1,431.0 10,290.1
Invest.securities .0 135.8 379.1 349.7 203.6 1,068.2
Other assets 283.3 27.8 43.3 222.7 1,916.1 2,493.2
Total assets 3,867.0 1,361.0 3,044.9 4,670.1 3,555.6 16,498.7
Due to other
banks 353.9 421.6 411.2 880.7 222.3 2,289.8
Due to
customers 5,722.8 601.2 939.2 688.7 253.3 8,205.3
Issued
bonds .1 281.2 1,551.3 738.2 .0 2,570.6
Subordinated
liablities .0 .0 .0 97.0 418.5 515.5
Other liabilities 981.0 .5 2.0 .0 .0 983.4
Total
liabilities 7,057.8 1,304.5 2,903.6 2,404.6 894.1 14,564.7
Net liquidity gap -3,190.8 56.5 141.3 2,265.4 2,661.5 1,934.0
31.12.97
Assets 2,654.6 596.1 1,627.1 3,504.8 1,958.2 10,340.8
Liabilities 4,702.0 759.3 1,797.2 1,331.1 1,073.3 9,663.0
Net liquidity gap -2,047.4 -163.2 -170.1 2,173.6 884.9 674.1
Bank (31.12.1998)
>1 m 1-3 m 3-12 m 1-5 y <5 y Total
Cash and due from
central bank 1,614.6 1,614.6
Due from
other banks 126.8 .0 69.9 5.8 5.0 207.5
Dealing securitie 36.0 26.2 62.2
Loans and advances
to customers 466.7 1,056.6 1,545.8 2,755.4 1,531.6 7,356.2
Invest.securities .0 407.6 626.1 1,033.7 203.6 2,270.9
Other assets 289.0 27.6 41.4 220.7 1,430.1 2,008.8
Total assets 2,533.2 1,518.0 2,283.1 4,015.7 3,170.3 13,520.3
Due to other
banks 165.6 414.6 160.0 536.6 133.5 1,410.4
Due to
customers 4,844.0 562.7 892.7 667.2 253.3 7,219.9
Issued
bonds .0 201.2 1,238.9 494.1 .0 1,934.2
Subordinated
liablities .0 .0 .0 97.0 418.5 515.5
Other liabilities 531.6 .0 .0 .0 .0 531.6
Total
liabilities 5,541.2 1,178.5 2,291.6 1,794.9 805.3 11,611.5
Net liquidity gap -3,008.0 339.5 -8.4 2,220.8 2,364.9 1,908.8
31.12.97
Assets 2,654.3 1,256.1 2,086.7 1,898.1 1,566.8 9,462.0
Liabilities 4,706.9 767.3 1,522.8 716.5 1,074.4 8,787.9
Net liquidity gap -2,052.6 488.9 563.8 1,181.7 492.4 674.1
33.Geographic concentration of assets
Group (31.12.98)
OECD OtherBalt CIS
Estonia countr. countr. countr.
Cash and due from central banks 1,566.1 115.6 89.1 .0
Due from other banks 1.8 489.2 166.3 155.1
Dealing portfolio 58.5 .0 5.1 .2
Loans 9,271.1 .0 722.8 296.2
Investment portfolio 1,029.0 2.4 9.9 26.9
Investments to subsid.& associates 36.0 .0 3.7 .0
Other 2,148.5 1.5 275.4 28.2
Total assets 14,111.0 608.7 1,272.3 506.7
Total assets (31.12.97) 9,590.7 327.4 235.4 187.3
Bank (31.12.98) OECD OtherBalt CIS
Estonia countr. countr. countr.
Cash and due from central banks 1,565.6 48.1 .9 .0
Due from other banks .0 197.6 7.8 2.1
Dealing portfolio 56.9 .0 5.1 .2
Loans 7,353.0 .0 3.2 .0
Investment portfolio 2,171.6 2.0 .0 97.3
Investments to subsid.& assoc. 381.6 .0 103.4 -7.6
Other 1,529.2 1.5 .0 .8
Total assets 13,057.8 249.2 120.4 92.8
Total assets (31.12.97) 8,713.6 324.2 235.4 188.8
34.Cash and cash equivalents Group: Bank:
1998 1997 1998 1997
Cash on hand 450.8 248.4 317.8 248.1
Balances with the central bank 1,320.0 825.1 1,296.9 825.1
Demand deposits in
credit institutions 295.7 133.3 101.5 133.3
Dealing securities 63.9 501.6 62.2 501.6
2,130.4 1,708.4 1,778.3 1,708.1
35.Banks' merger 1998 1997
Tallinna Pohja-
Pank Tallinna -Eesti
Group* Pank Pank
Cash and cash equivalents 912.5 346.9 242.9
Time deposits in other banks 478.6 .0 2.6
Loans to customers 2,293.2 1,561.0 606.3
Loan provisions -84.8 -71.4 -25.5
Investment securities 303.8 215.5 276.3
Investments in associates .0 .0 7.3
Investments in subsidiaries - 264.6 .9
Tangible fixed assets 411.9 69.1 169.6
Other assets 221.9 57.6 27.0
Acquired assets: 4,537.1 2,443.2 1,307.4
Amounts owed to credit institutions-1,478.7 -977.6 -73.3
Amounts owed to customers -2,367.7 -1,245.8 -1,090.7
Issued bonds -119.7 .0 -15.0
Subordinated debt -168.0 -168.0 .0
Other liabilities -447.7 -133.7 -103.4
Minority interests -38.2 - -
Acquired liabilities: -4,619.9 -2,525.2 -1,282.4
Net assets acquired -82.8 -82.0 25.0
Goodwill arising on acquisition 575.8 575.8 .0
Total assets acquired 493.0 493.8 25.0
Less: cash an cash
equivalents acquired -912.5 -346.9 -242.9
Total cash
flow on merger 419.5 -146.9 217.9
*Pro forma. Since at a time of consolidating the banks balance sheets
on 31 July 1998 the subsidiaries of Tallinna Pank were not
consolidated, the report for the Tallinna Pank Group dated from 30
June 1998 is used and has been adjusted by the changes that
took place in the balance sheet of Tallinna Pank in July 1998.
36.Currency rates 31.12.98 31.12.97
DEM 8.0000 8.0000
USD 13.4104 14.3356
FIM 2.6321 2.6406
SEK 1.6500 1.8126
LTL 3.3519 3.5837
LVL 23.5995 24.3389
RUB 0.5960 0.00239
SHARES HELD BY THE MEBMBERS OF MANAGAMANT BOARD AND SUPERVISORY BOARD
The number of shares of AS Eesti Ühispank held by the members of the
Management Board and the Supervisory Council or by their next of kin
as of December 31th, 1998, as well as the number of shares owned by
commercial undertakings controlled by these persons either
individually or collectively.
As of December 31st, 1998, the members of the Management Boad
and Supervisory Council owned a total of 897,299 shares of AS Eesti
Ühispank.
MANAGEMENT BOARD: Board Member Controlled Issuing of
and next of kin commercial share options
undertaking for the Board
1998 1997 1998 1997 1998 1997
1.Ain Hanschmidt
President 148601 48601 - - 0 200000
2.Lembit Kitter
Vice President,
Head of Retail
Banking Division 100000 0 - - 0 200000
3.Ott Karolin
Vice President,
Head of Credit and
Corporate Banking
Division 38886 15159 - - 0 50000
4.Ülo Suurkask
Vice President,
Head of Financial
Division 39834 36424 - - 0 50000
5.Urmas Pütsepp
Head of Financial
Planning Division 3310 3310 - - 0 50000
6.Margus Schults
Vice President,
Head of Interbank
Division 27125 9878 - - 0 50000
7.Toivo Annus
Vice President,
Head of Branch
Management Division 67184 6518 - - 0 50000
8.Targo Raus
Vice President,
Head of Investment
Banking Division 101035 non-member - - 0 -
9.Vaima Kask
Head of Accounting
and Reporting
Division 16800 non-member - - 0 -
10.Leho Lugna
Head of Administra-
tive Division 4228 non-member - - 0 -
11.Natalja Klendere
President of@ere
Saules Banka 0 non-member - - 0 -
SUPERVISORY COUNCIL: Council member and Controlled commer-
next of kin cial undertaking
1998 1997 1998 1997
1.Aare Urm
AS Eesti Ühispank,
Council Chairman 384 384 0 0
2.Mart Avarmaa
Tartu Tootjate Liit,
Board Chairman 14294 44294 0 0
3.Koit Uus
Haapsalu KEK,
Board Chairman 0 0 295369 285374
4.Enn Pant
AS Hansatee,
General Manager 36200 4000 0 0
5.Tord Martin Olofsson
Swedfund Financial
Markets AB,
Managing Director 0 0 0 0
6.Andres Lipstok
Member of Parliament 27 7845 0 0
7.Tiit Kouhkna
ETFC Grupp,
Council Chairman 0 1219 4022 244022
8.Aadu Luukas
AS Pak-terminaal,
Council Chairman 0 0 0 0
9.Robert Lepikson
membership suspended
in connection with the
nomination to the County
Governor of Voru 0 0 0 0
10.Rob van der Wurf
Netherlands Development
Finance Company 0 non-member 0 -
11.Lars Gustafsson
Skandinaviska
Enskilda Banken 0 non-member 0 -
12.Rutger Blennow
Skandinaviska
Enskilda Banken 0 non-member 0 -
The Council as provided in the table was elected on Aprli 4th, 1998 on
the general meeting of shareholders and was amended on special general
meetings of shareholders on May 24th and November 26 th. Pursuant to
the Articles of Association, the members of the Supervisory Council
maintain their powers until the general meeting of shareholders.
INDEPENDENT AUDITORS' REPORT
Eesti Ühispank
Estonia
We have audited the financial statements and the consolidated
financial statements of Eesti Ühispank for 1998. These financial
statements are the responsibility of the bank's management. Our
responsibility is to express an opinion on the financial statements
based on our audit.
Basis of opinion
Our audit was planned and conducted in accordance with generally
accepted International Standards on Auditing to obtain reasonable
assurance that the financial statements are free of material
misstatements. Based on an evaluation of materiality and risk our
audit has included an audit of evidence supporting the amounts and
disclosures in the financial statements. We have assessed the
accounting policies applied and the estimates made by the management
as well as evaluated the overall financial statement presentation.
Opinion
In our opinion, the financial statement and the consolidated
financial statements have been presented in accordance with
International Accounting Standards and give a true and fair view of
the group's and the parent company's assets and liabilities,
financial position and result.
Tallinn, Estonia 26 February, 1999
Deloitte & Touche
(signature) (signature)
Harry Aamann Veiko Hintsov
State Authorised Public State Authorised Public
Accountant (Denmark) Accountant (Estonia)
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