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BIGBANK’s loan portfolio grew by 5.7 per cent
14 JUNE, 2013

In the 1st quarter of 2013, the loan portfolio of BIGBANK, a bank based on Estonian capital and specialised on consumer loans, grew by 13.4 million euros, i.e. 5.7 per cent, reaching a total of 250.3 million euros.

The largest contribution to the growth of the loan portfolio was made by BIGBANK’s Swedish branch. The portfolio also increased in other countries of operation. The only exception was the Estonian market where the loan portfolio decreased.

According to the Chairman of the Management Board, Kaido Saar, the growth of the loan portfolio in Sweden is in line with the bank’s business strategy. “At the same time, we continue to focus on all the other countries of operation,” Saar added.

In the 1st quarter, the volume of BIGBANK’s total assets grew by 2.2 million euros, reaching a total of 282.9 million euros as of the end of the quarter. The volume of liabilities reached 223.3 million euros, having increased by 2.0 million euros during the quarter. Term deposits continue to form the largest part of liabilities.

The net profit of BIGBANK’s Group in the 1st quarter of 2013 amounted to 1.7 million euros, which shows a decrease of 0.5 million euros compared to the same period of the previous year. The profit before impairment allowances totalled to 6.5 million euros, having increased by 37.2 per cent in comparison to the same period of the previous year. In the 1st quarter, BIGBANK’s interest income reached 12.7 million euros, having increased by 1.8 million euros in comparison to the same period of the previous year.

As of the end of the 1st quarter of 2013, BIGBANK employed 583 people, of which 237 in Estonia, 151 in Latvia, 89 in Lithuania, 43 in Finland, 37 in Spain, and 26 in Sweden. As of the end of the quarter, the bank had a total of 23 branch offices, of which 7 were located in Estonia, 6 in Latvia, 8 in Lithuania, 1 in Finland, and 1 in Spain.