In December 2023, the Estonian FSA presented Bigbank AS with the outcome of the annual Supervisory Review and Evaluation Process (SREP) capital adequacy calculation. As an outcome of the evaluation the FSA decided to establish new Pillar 2 capital requirement for Bigbank AS.
According to the decision of the FSA, an additional requirement for own funds (P2R) in the amount of 3.2% from the total risk exposure amount (TREA) applies to Bigbank AS on consolidated basis, of which at least 2.4% must be covered with Core Tier 1 own funds and at least 1.8% with Tier 1 capital. This means that the Pillar 2 capital requirement decreased by 1.29 percentage points.
The FSA has decided to keep the Pillar 2 guidance (P2G), applicable to Bigbank AS on consolidated basis, on the same level compared to last year, which is 1.5% from the TREA.
The renewed P2R and P2G ratios are applicable from 01.01.2024.
Bigbank AS (www.bigbank.ee) is based on Estonian capital and focuses on loans and deposits for private and corporate customers. In addition to its activities in Estonia, Bigbank has branches in Finland, Sweden, Latvia, Lithuania, and Bulgaria and offers its products as a cross-border service in Austria, Germany and the Netherlands. Bigbank’s total balance sheet exceeds 2 billion euros.
Additional information:
Argo Kiltsmann
Member of the Management Board
E-mail: argo.kiltsmann@bigbank.ee
www.bigbank.eu
