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
