BIGBANK
BIGBANK´s net profit for Q4 2010 amounted to 2.2 million euros

BIGBANK 

28.02.2011 17:58
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BIGBANK continuously focuses on expanding its activities outside the Baltic
States. In the 4th quarter of 2010, a branch was founded in Spain, which
starting from the first half of 2011 will begin to issue consumer loans and
provide depositing possibilities to its clients similarly to the parent
company. 

Loan sales increased and the loan portfolio grew in the 4th  quarter of 2010,
by 107.0 million kroons, i.e. 4.8%. The largest contribution to the growth of
the loan portfolio was given by BIGBANK's Finnish branch. 

In the 4th  quarter , the volume of total assets grew by 125.1 million kroons,
reaching 3 245.0 million kroons as of the end of the quarter. The volume of
liabilities reached 2 500.2 million kroons, having increased during the quarter
by 90.0 million kroons. Term deposits continue to form the largest part of
liabilities. 

Compared to the previous quarter, the payment behavior of customers did not
change significantly during the 4th quarter, being still better than during the
same period of the previous year. However, the ratio of customers performing
regular payments continued to grow. During the 4th quarter, the volume of the
non-performing loan portfolio of the bank decreased, which is connected to the
increase of employment of private persons and the improving macroeconomic
environment primarily in Estonia and Latvia. 

Net profit of the reporting period in the 4th quarter  amounted to 35.3 million
kroons, compared to the 10.9 million kroons of the same period of the previous
year. In the 4th quarter, the profit before impairment allowances totaled to
62.3 million kroons (in the previous quarter, the corresponding figure was 59.8
million kroons): 

As of the end of the 4th quarter of 2010, equity totaled 744.8 million kroons
(677.6 million kroons as of the end of 2009). The share of equity in total
assets amounted to 23.0%. Capital adequacy formed 22.4% as of 31 December 2010
(26.4% at the end of 2009). 

As of the end of the 4th quarter of 2010, there were 477 employees working at
BIGBANK, including 241 in Estonia, 149 in Latvia, 77 in Lithuania and 10 in
Finland. As of the end of the quarter, the Group had 28 offices, of which 10
were located in Estonia, 7 in Latvia, 10 in Lithuania and 1 in Finland. 



Additional information:

Targo Raus

Chairman of the Management Board

targo.raus@bigbank.ee
News Source: NASDAQ OMX



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Language:     English
Company:      BIGBANK
              
               
              Estonia
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         EE3300082940
WKN:          
 
End of Announcement                             DGAP News-Service
 
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