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Financial reports of BIGBANK Group

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BIGBANK's Loan Portfolio Grew by Nearly a Third in 2012
28 FEBRUARY, 2013

In 2012, the loan portfolio of BIGBANK – a bank based on Estonian capital and specialised on providing consumer loans – grew by a total of 27.4 per cent, showing largest increase on the Finnish market.

Pursuant to the consolidated results of BIGBANK's financial year 2012, the volume of the loan portfolio reached 236.8 million euros as of the end of December, having grown in the year by 50.9 million euros, i.e. 27.4 per cent. 96 per cent of loans have been issued to private persons and the average credit amount issued reached 1748 euros.

In 2012, BIGBANK's interest income reached 45.9 million euros, having grown in comparison to the last year by 9.6 million euros, i.e. 26.4 per cent. At the same time interest expenses constituted 7.6 million euros in comparison to the 6.3 million euros of the previous year.

In 2012, the profit of BIGBANK Group was 7.0 million euros, having grown in comparison to the previous year by 1.4 million euros, i.e. 24.1 per cent. The increase in profit was primarily affected by the growth of interest income. In 2012, the bank's profit before impairment allowances was 7.1 million euros.

Member of the Management Board of BIGBANK, Kaido Saar, said that BIGBANK's activities were supported by a moderate economic growth in all primary countries of activity. "We continued to expand activities primarily on new markets. The main growth driver of our loan portfolio was our Finnish branch, the volume of which reached 51.5 million euros by the end of 2012, having grown by 68.5 per cent during the year. The Estonian loan portfolio decreased by 5.9 per cent during the year, there was small growth in Latvia and Lithuania," Saar said.

In the last quarter of 2012, there have been no significant changes in the settlement behaviour of customers and both the number of customers making payments and the rate of receipts from the default portfolio have remained stable. The proportion of the Group’s non-performing loans to the total loan portfolio has decreased.
At the end of 2012, BIGBANK employed a total of 582 employees: 238 in Estonia, 149 in Latvia, 90 in Lithuania, 45 in Finland, 38 in Spain and 22 in Sweden. The number of employees grew by nearly 10 per cent in the year, primarily in connection with launching new markets. The number of branch offices reached 29: 10 were located in Estonia, 7 in Latvia, 10 in Lithuania, 1 in Finland and 1 in Spain.

BIGBANK AS is a credit institution based on Estonian capital and having branches in Finland, Sweden, Latvia, Lithuania and Spain and offering its products as a cross-border service in Germany, Austria and the Netherlands.