AS OPTIVA PANK

ANNOUNCEMENT

12.03.99

 

OPTIVA PANK FEBRUARY PROFIT 433 THOUSAND EEK

 

The February’s financial result of Optiva Pank was a profit of 

433 thousand EEK. The balance sheet volume increased by 136,8 

million EEK or 4,2%, amounting to 3.37 billion EEK.

 

The income structure in February was the following: net 

interest income after loan provisions accounted for 48.4% (51.7% 

in January) of income, commissions and service fees received 

26.7% (25.3%), income from the currency exchange operations 16.4% 

(20.8%), income from investments in shares 7.7% (1.4%) and 

other income 0.8% (0.8%).

 

Demand deposits of clients increased by 29.4 million EEK or 5.6% 

during the month, amounting to 553.2 million EEK by the end of 

February. The volume of time deposits increased from 316.8 

million EEK at the end of January to 349.5 million EEK at the end 

of February (growth 32.7 million EEK or 10,3%). Demand and time 

deposits in total amounted to 902.7 million EEK at the end of 

February, which is 26.8% of total assets. Deposits grew by 62.1 

million EEK or 7.4% during February.

 

Clearing accounts increased by 75.1 million EEK or 51,9%, loans 

from banks 19.2 million EEK or 2,8%. Other liabilities decreased 

by 24.7 million EEK or 31,5%. Out of the total foreign capital, 

interest-bearing liabilities accounted for 91.0% or 2.76 billion 

EEK at the end of February.

 

The bank’s interest-bearing assets increased by 114.8 million EEK  

or 4,7% during the month.

 

It includes the decrease in net loan portfolio, which fell by 

4.5% or 93.7 million EEK. The bank’s net loan portfolio accounted 

for 59.0% of total assets at the end of February, a decrease from 

64.4% at the end of January.

 

Investments in debt securities increased by 47.9% or 125.5 

million EEK in February, amounting to 387.2 million EEK or 11.5% 

of total assets at the end of the month (8,1% in January).

 

The volume of time deposits with banks and cash increased during 

the month, 129.6 million EEK or 35.6% and 9.0 million EEK or 

16,6% respectively.

 

The volume of long-term investments in shares decreased by 7.4 

million EEK or 5.3% and other assets by 22.7 million EEK or 

13.8%.

 

The capital adequacy of the bank stood at 11,84% at the end of 

February.

 

 

Budget and Planning Department

Optiva Pank

Tel. + 372 6302 103