AS HANSAPANK

ANNOUNCEMENT

29.12.98

 

 

COMMENTARY TO BNS ARTICLE

 

 

As a commentary to the possible financial result of Hansabank-

Latvia for the full financial year of 1998, mentioned in the 

article of BNS “Hansabank-Latvia is increasing its share 

capital”, we would like to say that Hansapank does not make to 

the public neither its own nor its subsidiaries’ financial 

forecasts. Hansapank publishes the financial statements of its 

more significant subsidiaries and the whole group on a 

quarterly basis.

Hansabank-Latvia’s 1998 9 month result was a loss of LVL 0.3 

million (EEK 6.9 million). The preliminary financial results 

for the full year of 1998 will be published in January 1999.

 

We would also like to say that after the merger of Hansabank-

Latvia and Zemes Banka, Hansabank-Latvia is no longer a fully 

owned subsidiary. At the moment Hansapank owns 89.7% of 

Hansabank-Latvia’s share capital.