HANSAPANK

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, 6 M 2001



(in millions, reviewed)

                                  EEK                     EUR        

                        6m 2001   2000  6m 2000 6m 2001   2000  6m 2000

                                                                      

Interest income         2,135.8 3,389.7 1,492.1   136.5   216.6    95.4

Interest expense        -920.8 -1,414.6  -608.9   -58.8   -90.4   -38.9

                               

Interest income, net    1,215.0 1,975.1   883.2    77.7   126.2    56.5

                                                                      

Fee and commission        607.0 1,087.1   499.0    38.8    69.5    31.9

income

Fee and commission       -126.4 -208.5  -105.9    -8.1   -13.3    -6.8

expense

Fees and commissions,     480.6  878.6   393.1    30.7    56.2    25.1

net

                                                                      

Net result from           251.7  563.4   252.0    16.1    36.0    16.1

financial operations

Dividends                  11.5    3.1     2.4     0.7     0.2     0.2

Net income from            23.8   23.8    11.8     1.5     1.5     0.8

insurance activities

Other income               74.0  103.3    44.2     4.7     6.6     2.7

Total income            2,056.6 3,547.3 1,586.7   131.4   226.7   101.4

                                                                      

Operating expenses                                                    

Personnel expenses        471.2  713.8   317.4    30.1    45.6    20.3

Data network expenses      66.5  116.4    50.3     4.3     7.4     3.2

Administrative expenses   197.2  406.8   183.4    12.6    26.0    11.7

Other expenses            222.0  393.9   175.2    14.2    25.2    11.2

  incl. goodwill          113.2  206.8   100.2     7.2    13.2     6.4

amortisation

Depreciation              158.2  271.2   127.5    10.1    17.3     8.2

Total operating         1,115.1 1,902.1   853.8    71.3   121.5    54.6

expenses

Losses on loans and      -120.7 -494.0  -180.3    -7.7   -31.6   -11.5

guarantees

Recovered loans           125.6  129.2    53.0     8.0     8.3     3.4

Profit from associates      1.1    6.8     2.1     0.1     0.4     0.1

under the equity method

Operating profit          947.5 1,287.2   607.7    60.5    82.3    38.8

Extraordinary                 -   22.4    22.3       -     1.4     1.4

income/(expense)

Profit before income      947.5 1,309.6   630.0    60.5    83.7    40.2

tax

Income tax                -31.6 -105.0  -101.8    -2.0    -6.7    -6.5

Profit after income tax   915.9 1,204.6   528.2    58.5    77.0    33.7

Minority interest          -1.8   -4.2    -2.1    -0.1    -0.3    -0.1

Net profit                914.1 1,200.4   526.1    58.4    76.7    33.6





Mart Tõevere

Head of investor relations

+372 6131 569