BIGBANK
BIGBANK´s net profit of the first 9 months of 2010 amounted to 46,9 million kroons

BIGBANK 

30.11.2010 17:00
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BIGBANK's net profit of the first 9 months of 2010 amounted to 46,9 million
kroons; the bank continued to focus on expanding its activities outside the
Baltic states. 
In the third quarter, interest income amounted to 115.4 million kroons,
decreasing by 34.8 million kroons compared to the same period of the previous
year. During the same period interest expenses totalled 28.6 million kroons,
compared to the 44.8 million kroons of the same period of the previous year.
Reduction of the interest expenses is above all connected with the decrease in
the deposit interest and the increase in the share of deposits and decrease in
the share of bonds in the structure of liabilities. 
As of the end of September BIGBANK's loan portfolio amounted to 2 247,7 million
kroons. Total assets increased by 240,5 million kroons during the third quarter
and the loan portfolio grew by 64.6 million kroons, growing on quarterly basis
for the first time since the second quarter of 2009. 
Net profit of the third quarter amounted to 16.8 million kroons, compared to
the 18.7 million kroons of the previous quarter. In the third quarter, profit
before impairment allowances totalled 59.8 million kroons. BIGBANK's net profit
of the first 9 months of 2010 amounted to 46,9 million kroons. 
According to Targo Raus, the Chairman of the Management Board of BIGBANK, the
company continued to expand outside the Baltic states. 'In the beginning of the
year we started issuing loans in Finland and currently we are in schedule with
our developments there,' said Raus. As a second important trend Raus pointed
out that payment behavior of clients has improved compared to the same period
of the previous year. 
BIGBANK AS is a specialised credit institution based on Estonian capital, which
has branches in Finland, Latvia and Lithuania and provides its services on
cross-border basis also in Austria and Germany. As of the end of September 2010
BIGBANK had 452 employees and 28 offices, of which 10 offices were located in
Estonia. As of the end of September BIGBANK had 108 000 loan customers. 

Additional information:
Targo Raus
Chairman of the Management Board
Tel: 735 0923
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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