The loan portfolio of Balti Investeeringute Grupi Pank AS (BIG) increased by
261 million kroons in Q4 2007, amounting to 2 176 million kroons by the end of
the quarter. Total assets increased to 2 620 million kroons by the end of the
year increasing by 2.2 times. As of 31.12.2007 customers net loan portfolio
formed 79% of total assets and cash and equivalents formed 14% of assets.
At the end of the period equity formed 472 million kroons, increasing by 9.4%
during the quarter (34% during the year).
In 4th quarter interest income amounted to 179.041 million kroons compared to
86.291 million kroons during the same period previous year. In 2007 interest
income amounted to 574.381 million kroons which represents 104% increase
compared to previous year.
The start of operations of Lithuanian branch, established in Q3 2007, has been
successful. By the end of the year, Lithuanian loan portfolio amounted to 61
million kroons and number of clients to 2.8 thousand.
The office network of Balti Investeeringute Grupi Pank AS has increased to 38
offices, of which 20 offices are in Estonia, 14 in Latvia and 4 in Lithuania.
As of 31.12.2007, number of employees of BIG was 494, of which 247 in Estonia,
203 in Latvia and 44 in Lithuania. As of 31.12.2007 there were more than 108
thousand active loan contracts and more than 98 thousand loan clients.
In Q4 2007 BIG issued bonds in the international markets for 20 million euros,
which was the third tranch of the bond issue arranged in 2007 with total volume
of 82.75 million euros (313 million kroons). The growth of deposit portfolio
also continued amounting to 181 million kroons by the end of 2007 (increase of
16% during the quarter).
In November 2007 rating agency Moody's Investors Service granted BIG a credit
rating of B1, the aim of the rating is to broaden the potential investor base
and increase awareness in international financial markets.
Additional information:
Targo Raus
CEO
Tel: +372 735 0923
