Pēd. atjaunots: 04.07.2024 06:15 (GMT+3)
HANSAPANK
ANNOUNCEMENT
SIGNING OF A LETTER OF INTENT
Today, on December 3, 1999 Hansabank's Latvian subsidiary A/S
Hansabanka and the shareholders of Latvian commercial bank A/S
Ventspils Apvienota Baltijas banka (UBB Ventspils) signed a letter of
intent whereby Hansabanka would purchase 100% of UBB Ventspils shares.
The banks hope to sign a binding sales agreement by the end of 1999.
UBB Ventspils is the 12th largest bank in Latvia by assets (LVL 52.2
million) and the 10th largest bank by deposits (LVL 39.2 million). The
pre-tax profit of UBB Ventspils for the first 9 months of 1999 was LVL
1.14 million. Hansapank considers UBB Ventspils to be an efficient and
well-run bank. The bank also has a strong market position in one of
the fastest developing regions in Latvia - Ventspils.
As of September 30 Hansabanka was the third largest bank in Latvia
with total assets amounting to LVL 172 million, deposits at LVL 141
million and loans at LVL 75 million. Hansabanka's 9 month profit for
the current year was LVL 820 thousand.
Additional information:
Ingrida Bluma Indrek Neivelt
Hansabanka Hansapank
+371 702 4200 +372 613 1372
Mart Toevere
Analyst
6131 569