By the end of the 2nd quarter of 2008 the balance sheet total of Balti
Investeeringute Grupi Pank AS reached 2 699.5 million kroons, thus exceeding
the balance sheet total as of the beginning of the year by 79.4 million kroons.
There have not been any significant changes in the structure of assets;
receivables from customers form the majority of the total assets (82%). The
growth of loan portfolio in the 2nd quarter was modest as planned, which is
associated with the changes occurred in the macro environment and conservative
loan policy and also liquidity management. As of the end of the period the
number of loan contracts amounted to 128 000 (122 000 as of the end of the 1st
half year). In terms of percentage the loan portfolio has increased the most in
Lithuania, during the 1st quarter increase was 109%, i.e. 67.6 million kroons.
In Estonia and Latvia the granting of loans and loan repayments are at the same
level, thus the loan portfolio has not increased in these markets.
As of the end of the quarter the volume of monetary instruments amounted to
401.7 million kroons, forming 14.9% of the balance sheet total.
In Q2 2008 total liabilities decreased by 142.1 million kroons, whereas term
deposits increased by 205.1 million kroons, bank loans decreased by 180.3
million kroons and issued bonds decreased by 176.4 million kroons.
As of June 30 2008, the term deposits amount to 413.7 million kroons, increase
of 98.3% during the quarter and form 19.1% of total liabilities (compared to
8.6% at the beginning of the year). Issued bonds represent 70.0% of total
liabilities (1 520.5 million kroons), bank loans 0.8% of total liabilities
(16.6 million kroons) and subordinated bonds 7.9% of total liabilities (172.3
million kroons).
In the 2nd quarter the interest income amounted to 166.9 million kroons, total
of 348.0 million kroons during the first half-year. In the 2nd quarter of 2008
Balti Investeeringute Grupi Pank earned a profit of 40.5 million kroons, which
is 24.1% more than in the same period of the previous year. The profit of the
first half-year amounted to 89.2 million kroons.
The office network of Balti Investeeringute Grupi Pank AS consists of 43
offices, of which 21 offices are located in Estonia, 17 in Latvia and 5 in
Lithuania.
As of 30 June 2008 there were 492 employees working in the Group, including 225
in Estonia, 217 in Latvia and 50 in Lithuania.
The Q2 Public Interim Report is available at the company's web-site
www.big.ee.
Additional information:
Piret Raudsepp
CFO
Tel: +372 7350923
