Stock Exchange Release 28.04.2005 13:00
Q1 2005 consolidated financial results
- Loan growth 8% qoq, +38% yoy
- Deposit growth 8% qoq, +25% yoy
- Net interest margin 3.17%, -5bp qoq, -23bp yoy
- Net profit EUR 54.3 million, +11% qoq, +27% yoy
- Return on equity 25.7%
- Revenues EUR 114.5 million, +2% qoq, +19% yoy
- Expenses EUR 51.6 million, -11% qoq, +12% yoy
- Cost-income ratio 44.9%
Q1 2005 was characterised by intense competition and rapid growth in all important product areas. Hansabank Group managed to successfully strengthen its market position and maintain the leading position in the Baltic banking market.
All business units showed excellent results in the first quarter of 2005. Russian net profit almost doubled compared to Q1 2004 to EUR 4.3 million, Lithuanian net profit increased by 57% to EUR 10.2 million, Latvian result improved by 36% to EUR 11.4 million and Estonian net profit rose by 11% to 29.1 million.