HANSAPANK

INCOME STATEMENT



LATVIAN HANSABANKA'S INCOME STATEMENT, 6M 2001



(LVL in thousands, unaudited)         6m 2001     2000   6m 2000

                                                                

Interest income                        13,575   20,541     8,108

Interest expense                      (5,449)  (8,071)   (3,081)

Net interest income                     8,126   12,470     5,027

                                                                

Fees and commissions, received          4,431    8,698     3,922

Fees and commissions, paid              (690)  (1,063)     (513)

Fees and commissions, net               3,741    7,635     3,409

                                                                

Net result from financial               2,522    5,051     2,688

operations

Other income                              530      345        99

Total revenues                         14,919   25,501    11,223

                                                                

Personnel expenses                    (3,260)  (5,805)   (2,557)

Data network expenses                   (433)    (881)     (355)

Administration expenses               (2,534)  (4,242)   (1,877)

Other operating expenses              (1,490)  (2,922)     (677)

Depreciation                          (2,286)  (4,004)   (1,673)

Total non-interest expenses          (10,003) (17,854)   (7,139)

Loan losses                           (1,999)  (2,685)   (1,636)

Recovered loans previously written-       113      465       376

off

Net operating profit before             3,030    5,427     2,824

taxation

Tax                                     (333)    (579)     (318)

Net profit                              2,697    4,848     2,506





Mart Tõevere

Head of investor relations

+372 6131 569