Proceeds

The table below sets forth, in accordance with International Accounting Standards, the capitalisation of the Bank as of 30th June, 1997, 31st December, 1996, 31st December, 1995 and 31st December, 1994 and as adjusted for the increase in the share capital pursuant to the Offering (before payment of Offering expenses).

000 000 EEK

As of and for the period ended

 

As adjusted for the Offering

30 June, 1997

Dec 31,
1996

Dec 31,
1995

Dec 31,
1994

Due to credit institutions

442.3

442.3

422.0

117.7

8.0

Deposits

         

Demand deposits

3,201.0

3,201.0

2,296.0

1,618.4

1,065.7

Time and savings deposits

1,233.6

1,233.6

839.4

495.7

242.1

Total deposits

4,434.6

4,434.6

3,135.4

2,114.1

1,307.8

Government loans

269.2

269.2

236.2

143.8

56.6

Other liabilities

235.3

235.3

132.0

61.3

49.6

Issued bonds

400.0

400.0

0

0

0

Subordinated debt

148.9

148.9

83.9

0

40.0

Total external funds

5,930.3

5,930.3

4,009.5

2,436.9

1,462.1

Shareholders’ equity

         

Share capital

195.0

165.0

165.0

133.0

50.5

Capital surplus

748.2

88.2

88.2

13.0

0

General banking reserve

47.3

47.3

47.3

0

0

Other reserves

27.7

27.7

27.7

27.7

22.2

Retained earnings

94.9

94.9

(0)

(20.7)

(49.3)

Total shareholders’ funds

1,113.1

423.1

328.2

153.0

23.3

Total capitalisation

7,043.4

6,353.4

4,337.5

2,528.6

1,435.7