Pēd. atjaunots: 01.07.2024 02:01 (GMT+3)
EESTI ÜHISPANK
ANNOUNCEMENT
15.03.99
10.Balances with the central bank
Group: Bank:
1998 1997 1998 1997
Balances with the central bank 1,320.0 825.1 1,296.9 825.1
Mandatory reserve
(incl.extra liquidity requirement) 1,269.6 766.6 1,233.7 766.6
The difference between the group's and the bank's balances
represents Saules Banka's clearing account with the Bank of Latvia
Funds on mandatory reserve are not available to finance
the Group's day to day operations.
11.Loans and advances to banks
Group: Bank:
1998 1997 1998 1997
Demand deposits 295.7 133.3 101.5 133.3
Time deposits 498.6 103.9 87.8 103.9
Other 18.1 11.3 18.1 11.3
812.4 248.5 207.5 248.5
Bank had deposits in banks of CIS countries in amount of
eek2.1 mio (as of 31.12.98).
These amounts are not source for credit risk for Bank,
because risk is transferred to Bank's customers.
12.Dealing securities
Group: Bank:
1998 1997 1998 1997
Fixed income securities 28.6 10.9 27.2 10.9
incl. listed 15.3 10.9 15.3 10.9
Equity securities 40.3 490.8 40.0 490.8
incl. listed 21.0 490.8 20.7 490.8
Provision for diminution in value -5.0 .0 -5.0 .0
63.9 501.6 62.2 501.6
13.Loans and advances to customers
Group: Bank:
Concentration of exposure: 1998 1997 1998 1997
Trade (retail and wholesale) 1,369.1 965.7 1,198.6 965.7
Industry 1,449.8 961.9 1,414.7 961.9
Services 514.4 230.2 501.5 230.3
Transport 488.5 371.3 155.5 371.3
Construction 215.9 129.8 201.6 129.8
Real estate (development and rent) 1,238.2 634.6 1,488.4 634.6
Financial institutions 646.5 317.0 582.7 498.0
Municipal 41.5 41.6 41.5 41.6
Agriculture and fishing 280.5 205.6 269.1 205.6
Individuals 1,565.7 899.2 1,395.3 837.9
Leasing 2,474.2 1,325.1 - -
Other 393.6 629.2 160.6 188.3
10,722.0 6,711.1 7,709.5 5,064.9
14.Value adjustments of loans and advances
Group: Bank:
1998 1997 1998 1997
At 1 January 141.6 42.1 118.4 37.5
Provisions acquired
from banks' merger 84.8 25.5 71.4 25.5
Loans and advances written off -155.8 -27.3 -68.8 -25.1
Provisions for
investments in subsidiaries 6.3 .0 .0 .0
Loan provisions 355.0 101.4 232.3 80.5
At 31 December 431.9 141.6 353.3 118.4
Recoveries from loans losses 10.3 6.0 2.0 6.0
Non-performing loans 231.6 84.0 204.4 84.0
*Non-performing loans are loans on which
interest is not accrued.
15.Investment securities
Group: Bank:
1998 1997 1998 1997
Debt securities 992.9 691.1 2,196.4 1,546.2
Purchased securities
with resell commitment* .0 167.9 .0 167.9
Equity securities 75.2 71.9 74.5 31.9
incl. listed 16.4 .0 16.4 .0
1,068.2 930.9 2,270.9 1,746.0
Marketable debt securities** 224.0 164.1 224.0 164.1
Marketable equity
securities ond others 16.7 207.9 16.7 167.9
*Contracts with customers, where title to shares has passed to the
bank, and they are interest bearing.
**In determining marketability, an issuer's creditworthyness,
realisability of an instrument
and an option to acquire supplementary assets backed by
the given instrument
Investment securities portfolio
Group: Bank:
1998 1997 1998 1997
Central Government 156.4 140.0 121.0 140.0
Local municipalities 425.8 168.2 425.3 168.2
Credit and financial institutions 230.0 245.7 1,371.7 1,100.7
Other 180.7 137.2 278.4 137.2
992.9 691.1 2,196.4 1,546.2
16.Investments in associates
Amount Ownership Country Main activity
AS Leks Kindlustus 30.1 42.0% Estonia Insurance
Pankade Kaardikeskuse AS 3.5 40.0% Estonia Credit card proces
AS Sularahakeskus 1.6 25.0% Estonia Cash escorting
35.1
17.Investments in subsidiaries
Amount* Ownership Country Main activity
Ühisliisingu AS 80.7 96.7% Estonia Leasing
Tallinna Panga Liisingu AS 18.3 100.0% Estonia Leasing
AO Russkii Obedinennoi Lizing -7.6 75.0% Russia Leasing
Saules Banka S/A 98.2 79.5% Latvia Commercial banking
AS Ühisinvesteeringud .1 100.0% Estonia Investment banking
UAB FMI Baltijos Vertybiniai 2.0 98.8%LithuaniaBrokerage
A/S TP Securities Latvia 3.2 100.0% Latvia Brokerage
ZAO Baltic Invest .0 100.0% Russia Brokerage
AS Ühispanga Fondijuht 2.3 100.0% Estonia Asset management
Tallinna Panga Varahalduse AS 1.7 100.0% Estonia Asset management
AS Ühispanga Elukindlustus 18.0 100.0% Estonia Life insurance
AS LF Finants .3 100.0% Estonia Finance
Bangalo Ltd 90.4 100.0% Estonia Real estate
PT Investments Ltd 42.9 100.0% Estonia Real estate
OÜ Navarra .6 100.0% Estonia Real estate
AS PF Koda 90.9 100.0% Estonia Real estate
AS TPF Orior .3 100.0% Estonia Security
OÜ Efficio .0 100.0% Estonia Training
442.3
*Investment by equity method
Bank:
18.Goodwill 1998
At the beginning of period .0
Additions (TP merger) 575.8
Disposals .0
Amortisation -24.0
At the end of period 551.8
19.Tangible fixed assets Group: Bank:
1998 1997 1998 1997
Premises 888.8 383.7 364.9 317.7
Computers 92.0 31.0 73.3 31.0
Cars 31.3 14.1 22.8 14.1
Prepayments for
tangible fixed assets 114.0 17.3 27.4 20.7
Other 261.8 152.1 188.4 145.6
1,388.0 598.2 676.8 529.0
Group: Bank:
Premises Other Premises Other
At the beginning of period 331.6 224.3 317.7 211.4
Additions 380.5 290.5 59.9 143.4
Tallinna Pank merger 237.3 155.9 18.3 54.0
Disposals -21.7 -46.0 -21.1 -24.7
Depreciation charge -25.8 -138.5 -9.9 -72.2
At the end of period 901.8 486.2 364.9 311.9
20.Other assets Group: Bank:
1998 1997 1998 1997
Accrued interest receivable 144.8 74.9 134.8 74.9
Other accrued revenue 160.8 84.5 61.7 48.3
Intangible assets 1.4 .0 .0 .0
Items in transactions 199.4 202.0 106.3 202.0
Other assets 7.4 244.8 .0 .0
513.8 404.3 302.8 325.2
21.Amounts owed to credit institutions
Group: Bank:
1998 1997 1998 1997
Demand deposits 167.3 1.1 12.4 1.1
Time and other deposits 1,019.5 236.6 727.8 236.6
Loans from other banks 1,103.1 318.8 670.1 318.8
2,289.8 556.5 1,410.4 556.5
22.Amounts owed to customers Group: Bank:
1998 1997 1998 1997
Demand deposits 4,230.1 3,356.3 3,437.4 3,356.3
Time deposits and other deposits 3,715.4 1,862.8 3,522.7 1,649.8
Long term governmental
funds 259.8 291.0 259.8 263.4
8,205.3 5,510.1 7,219.9 5,269.5
Deposits of Customers:
Central government
and off-budget funds 1,423.9 1,567.4 1,423.9 1,539.8
Local municipalities 421.8 542.9 421.8 542.9
Financial institutions 926.3 187.9 937.6 187.9
State and municipalities
enterprises 322.2 367.9 321.1 367.9
Private enterprises 2,895.4 1,795.9 2,241.0 1,598.5
Private individuals 2,215.6 1,048.2 1,874.4 1,032.6
8,205.3 5,510.1 7,219.9 5,269.5
Residents 6,398.9 5,252.7 6,176.2 5,027.6
Non residents 1,806.4 257.5 1,043.7 241.9
23.Issued bonds
Issued bonds by Ühispank
Buyer Currency amount Interst rate Maturity
Chase Manhattan Bank 4.0 mio DEM 3 month Libor+1,5 % 18.12.99
Chase Manhattan Bank 30.0 mio DEM 3 month Libor+0,8 % 16.06.00
Merill Lynch 15.0 mio DEM 3 month Libor+1,25% 27.06.02
Deutsche Bank AG 10.0 mio USD 7.17% 25.09.00
Nomura Bank 90.0 mio USD 3 month Libor+1,5% 06.05.99
Lehmann Brothers 15.0 mio USD 3 month Libor+1,875% 12.02.99
Issued bonds by leasing companies
London Forfaiting Co 41.9 mio DEM 6-8% 03.1999 - 05.2003
Others 37.7 mio DEM
24.Subordinated debt
Buyer Currency amount Interst rate Maturity
Hüvitusfond 15.0 mio EEK 12.70% 21.02.02
Hüvitusfond 50.0 mio EEK 10.75% 28.07.03
Hüvitusfond 42.5 mio EEK 12.25% 01.09.05
Nomura Bank 30.0 mio EEK 3 month Libor+1,5% 26.09.04
Swedfund 2.0 mio EEK 6 month Libor+4,5% 04.06.06
FMO 4.0 mio EEK 6 month Fibor+4,5% 15.03.03
EBRD 10.0 mio EEK 6 month Libor+4.4% 13.01.08
EBRD 5.0 mio EEK 6 month Libor+3.4% 24.05.07
25.Other liabilities Group: Bank:
1998 1997 1998 1997
Current income tax liability .0 .0 .0 .0
Deferred income tax* 12.0 16.8 .0 8.1
Accrued interest payable 215.1 122.4 134.0 112.7
Other accrued expenses 177.4 61.0 51.0 16.5
Items in transmission 444.1 217.2 346.5 217.2
Other liabilities 134.9 210.4 .0 .0
983.4 410.5 531.6 354.5
*Defferred income tax liability arising from the cumulative
differences between accounting and tax depreciation.
EÜP has no defferred income tax liability arising from tax exempt
amounts (up to 5% from loan portfolio) transferred to the general
banking reseve.
26.Subscribed share capital
Share issues
12.04.97 Bonus issue: Ühispank issues 1.175 million new shares.
Shareholders receive one new share for every 20 old shares.
12.04.97 Merger with Pohja-Eesti Pank. Five million new shares was
was issued at a replacement ratio of 10 Ühispank shares (nomi-
19.12.97 Directed share issue for Swedfund Financial Markets AB in
the amount of 0.59 million new shares at eek67.75 a share.
05.03.98 Directed GDR issue (clients of the Bankers Trust Company).
A total of 11.159 million new shares was issued at eek 63.535 a share.
24.05.98 Merger with Tallinna Pank: total of 9.726 mio new shares
was issued at a replacement ratio of 0.42 Ühispank shares for every
shsre of Yallinna Pank
03.12.98 Directed issue of shares to Skandinaviska Enskilda Banken
(SEB) in amount of 15 million shares at eek40 a share.
27.Related parties Group: Bank:
1998 1997 1998 1997
Loans to employees and
members of board 115.8 64.6 2.3 3.3
Demands to subsidiaries 1,684.3 1,172.6
Demands to Group related companies (net) 318.3 255.9
Off-balance sheet commitments to subsidiaries 1,223.1 266.0
28.Off-balance sheet commitments and financial instruments
Ühispank and Saules Banka have entered
into off-balance sheet commitments.
Group: Bank:
1998 1997 1998 1997
Credit Instruments
1) Guarantees 581.1 519.2 1,732.6 748.2
Financial guarantees 316.0 293.9 1,467.5 523.0
incl. secured by time deposits 1.2 1.2 1.2 1.2
Other guarantees 265.1 225.3 265.1 225.3
incl.secured by time deposits 1.1 3.6 1.1 3.6
2) Letters of Credit 154.3 121.6 154.3 121.6
incl.secured by time deposits 10.7 3.6 10.7 3.6
3) Commitments to extend credit 655.0 717.1 651.0 726.7
incl.term of maturity over 1 year .0 147.6 .0 147.6
Foreign Exchange and Interest Rate Related Contracts (31.12.98)
Group: Bank: 1997
Contract.Replacem.Contract.Replacem.Contract.
amount value amount value amount
1) Forward contracts 798.4 -167.2 796.0 -167.2 988.1
incl. contractual
maturity over 1 year .6 .0 .6 .0 14.6
2) Currency
and interest rate
swaps 2,113.2 -94.0 2,099.9 -94.0 1,820.0
Equity contracts
1) Options written .7 -.056 .7 -.056 .0
call .6 -.056 .6 -.056
put .1 0 .1 0
2) Options purchased .2 -.039 .2 -.039 .0
call .2 -.039 .2 -.039
3) Securities forwards 10.8 -1.077 10.8 -1.077 .0
(equities)
29.Customers'securities portfolios managed by the Group
As at 31.12.1998, customers'securities portfolios managed by
Ühispank's Group amounted to EEK 43.7mio, incl. porfolios ma-
naged by Saules Banka in the amount of EEK27.7 mio. From the
portfolio management the group receives commission and neit-
her credit not market risk arises therefrom.
30.Currency risk
More significant open foreign currency positions (31.12.98 Group)
Off-balance NOFCP/Net
Assets Liabilities sheet Total equity
position
USD 1,656.8 3,309.3 1,646.1 -6.3 -.33%
RUB 74.1 91.9 .0 -17.8 -.92%
FIM 38.7 37.6 .0 1.2 .06%
SEK 5.6 64.8 56.6 -2.5 -.13%
LTL 24.9 7.9 .0 17.1 .88%
LVL 309.3 195.5 -.8 113.1 5.85%
Total open net foreign currency position (NOFCP):
178.9
More significant open foreign currency positions (31.12.98 Bank)
Off-balance NOFCP/Net
Assets Liabilities sheet Total equity
position
USD 441.7 2,104.1 1,661.8 -.6 -.03%
RUB 1.9 2.1 .0 -.2 -.01%
FIM 29.0 36.1 -.5 -7.6 -.43%
SEK 4.6 63.7 56.7 -2.3 -.13%
LTL 5.5 2.1 .0 3.4 .19%
LVL 2.3 5.3 .0 -3.0 -.17%
Total open net foreign currency position (NOFCP):
83.6
31.Main prudential ratios of Eesti Ühispank
Group: Bank:
1998 1998 1997
a) Capital adequacy
Equity 1,934.0 1,908.8 674.1
- less intangible
assets and goodwill -553.2 -551.8 .0
Total Tier1 1,380.8 1,357.0 674.1
Subordinated loans 486.7 486.7 302.0
Total gross equity 1,867.5 1,843.7 976.1
- less investments in credit
and financial instituti .0 -199.1 -51.7
Total net equity 1,867.5 1,644.5 924.4
Risk weighted assets 12,793.1 10,543.4 7,482.0
Risk weighted off
balance sheet items 2,031.6 2,007.7 869.4
ONFCP exceeding
2% level of net equity 178.9 84.5 28.8
Total risk items 15,003.7 12,635.5 8,380.3
Tier1 ratio 9.20% 10.74% 8.04%
Capital adequacy ratio 12.45% 13.02% 11.03%
Bank:
b) Liquidity 1998 1997
Average liquid assets 2,216.3 1,681.4
Average short-term liabilities 5,595.2 4,785.4
Liquidity 39.61% 35.14%
Group: Bank:
1998 1998 1997
c) Total high exposure 107.00% 109.38% 138.61%
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