OPTIVA PANK

BALANCE SHEET



UNCONSOLIDATED BALANCE SHEET AS OF 30.11.2000



Unconsolidated 

unaudited 

EEK in thousands



ASSETS                                           31-12-99   30-09-00   30-11-00

Cash in hand                                       80,471     51,393     60,676

Demand deposits with banks                        624,231    664,954    973,423

Interest-bearing deposits with banks              203,016    133,018    458,722

Shares trading portfolio                           24,981      8,859          0

Securities purchased under resale agreements        8,999      3,606        711

Loans to clients                                1,876,937  2,066,537  2,170,188

Allowances for loan losses                       -118,711   -125,852   -123,236

Net loans                                       1,758,226  1,940,685  2,046,952

Financial investments in debt securities          695,176    564,290    546,442

Financial investments in shares                    77,771    113,727    106,815

Tangible assets                                    32,668     24,948     23,269

Intangible assets                                 111,988     92,446      4,439

Other assets                                      116,173    137,320    110,261

TOTAL ASSETS                                    3,733,700  3,735,246  4,331,710



LIABILITIES

Current accounts                                1,055,789  1,117,201  1,145,011

Time deposits                                     499,134    741,855    807,437

Loans from banks                                  690,255    499,386    499,325

Borrowings from government                         95,958     50,725     53,279

Debts evidenced by certificates                   735,071    361,519    831,252

Clearing accounts                                  89,362    381,308    488,670

Other liabilities                                  56,303     57,099     72,043

Subordinated debt                                 194,500    194,500    194,500

TOTAL LIABILITIES                               3,416,372  3,403,593  4,091,517



OWNERS' EQUITY

Share capital                                     412,559    412,559    412,559

Share premium account                              60,602     60,602     60,602

General banking reserve                            44,812          0          0

Other reserves                                      4,665          0          0

Retained earnings from priors years              -184,670   -155,833   -155,833

Profit/Loss  for the financial year               -20,640     14,325    -77,135

TOTAL OWNERS' EQUITY                              317,328    331,653    240,193



TOTAL LIABILITIES AND OWNERS' EQUITY            3,733,700  3,735,246  4,331,710





Piret Villman

Analysis Department

+372 6 302 100