Earnings of the Baltic List companies

The total assets of Hansapank at the end of January stood at 25.47 billion kroons, a drop of about one percent from Dec. 31, 1999.

The bank's loan portfolio increased by one percent during the month to 14.15 billion kroons.

Deposits at the bank totaled 15.51 billion kroons at the end of January.

Capital adequacy, without the unaudited profit of 1999, stood at 17.05 percent.

In line with the practice adopted by Estonia's listed banks from the beginning of this year, Hansapank won't release its profit figure for January or any other separate month from now on but will publish financial reports on a quarterly basis.

However, since the local market is used to monthly publication of banks' balance sheets, Hansapank has opted for a six-month transition period during which it will publish monthly data about its unconsolidated total assets, loans and deposits, and the capital adequacy ratio.

Starting from the third quarter 2000, Hansapank will publish its financial statements only quarterly, the bank said on Tuesday.

>>>The total assets of Optiva Bank rose by a little over six percent during January to 3.975 billion kroons (USD 250 mln) at the end of the month, the bank said on Friday.

Optiva's loan portfolio increased by three percent over December to total 1.8 billion kroons on Jan. 31.

Deposits were down by nearly five percent from 1.555 billion kroons at the end of December to 1.467 billion kroons at the end of January.

The capital adequacy ratio stood at 10.15 percent, compared with 10.51 percent at the end of December.

Latvia

>>>Hansabanka's audited profit in 1999 was 1.05 million lats (USD 1.76 mln), the bank told BNS.

The bank had posted its 1999 unaudited profit at 1.186 million lats.

According to report audited by PriceWaterhouse Coopers auditing firm, Hansabanka's assets amounted to 200.783 million lats at the end of 1999, up 39 percent or 56.185 million lats from the end of 1998.

>>>The audited profit of Latvian Unibanka in 1999 was 10.501 million lats (USD 17.64 mln), the bank's management said Thursday.

According to preliminary data Unibanka's unaudited profit in 1999 was 10.534 million lats.

The bank's audited assets amounted to 335.26 million lats as on Dec. 31, 1999, up 9.6 percent from late in 1998.

The bank's financial report for 1999 operations was audited by Pricewaterhouse Coopers auditing firm.

The bank's credit portfolio grew by 30 percent in 1999 to 203.66 million lats at the end of the year.

Unibanka Vice-President Viesturs Neimanis said that at the end of 1999 net worth of Unibanka's investment in Russian securities was 5.039 million lats. "On balance-sheet has remained the best part of our exposure in Russia," he said.

From the total investment in Russia at the end of 1999 2.666 million lats were invested in corporate bonds, 1.487 million lats in government bonds, and 886,000 lats in muniicpal bonds.

At the end of 1998 Unibanka's investment in Russian securities amounted to 8.527 million lats.

The bank's representatives said that the volume of the bank's 1999 profit exceeds half of the aggregate profit of Latvia's commercial banks indicates Unibanka is not only the chief financial institution in the country, but also the biggest and most stable bank justifying trust of its clients and shareholders.

According to Unibanka's audited results, the bank's capital base formed of capital, reserves and subordinated caiptal was 47.16 million lats as on Dec. 31, 1999. The bank's capital adequacy indicator is 16.4 percent (Bank of Latvia normative 10 percent.)

"Although the country's macro-economic development in 1999 was not as positive as was forecast earlier, Unibanka has achieved excellent results by working on improving its operations," the bank said.

Unibanka's expenditures against revenues have declined from 54 percent in 1998 to 51.8 percent in 1999.

Latvian Unibanka's board recommends to pay 7.5 santims per share in dividends, Unibanka President Andris Berzins told reporters Thursday.

Unibanka president said the board recommends paying dividends from the previous year's profit in line with the bank's long-term dividend policy.

The decision on Unibanka's 1999 profit division should be made by the bank's shareholders who plan to meet March 7.

The profit per share is 28.3 santims.

Lithuania

>>>Hanza Lizingas, the leading provider of factoring services in Lithuania, boosted its factoring portfolio by 150 percent over the year 1999.

The company's factoring portfolio totalled 25 million litas (USD 6.25 mln) as of December 31, accounting for 11 percent of its overall portfolio.

>>>Kalnapilis, a leading Lithuanian brewery, reported a pre-audit net profit of 10.23 million litas (USD 2.56 mln) for the year 1999.

The figure is down from the company's audited net profit of 25.287 million litas posted for 1998.

Kalnapilis Chief Accountant Nijole Ivaskeviciene blamed the drop in profit on a decline in sales and lower retail beer prices.

The company's annual turnover totalled 96.787 million litas in 1999, down from 106.19 million litas reported for the previous year.

Kalnapilis sold 4.059 million decaliters of beer in 1999, a drop of 5.3 percent. The brewery's share of the Lithuanian beer market came to 23 percent last year.

The Nordic group Baltic Beverages Holding (BBH) owns 86.3 percent of shares in the Panevezys-based company.

>>>Vilniaus Bank announced an audited net profit of 74.217 million litas (USD 18.55 mln) for 1999, a 24 percent increase from 59.79 million litas posted for the previous year.

The bank's audited 1999 profit figure is up from 72.64 million litas reported before the audit.

Vilniaus Bank had set a target of 71.9 million litas for the year 1999.

The bank's pre-tax profit was 80.5 million litas in 1999, a rise of 34.7 percent from the respective 1998 figure.

Vilniaus Bank's assets rose 21 percent, while assets of the Vilniaus Bank Group, including Hermis, surged 77 percent last year.