OREANDA-NEWS. On 03 September 2009 was announced, that the operating volumes of BIGBANK AS did not change considerably in the 2nd quarter of 2009. The volume of total assets increased by 18.8 million kroons and receivables from customers reduced by 18.2 million kroons. The reduction in the loan portfolio is associated with the surrounding economic environment. On one hand a considerably reduced consumer confidence reduces the customers' interest in taking loans and at the same time BIGBANK's criteria for granting loans are continually conservative.

Although the amount of issued loans increased to some extent in the 2nd quarter, BIGBANK AS does not forecast the loan sales volumes to increase to the previous level in 2009 and respectively the sales network has been optimised in order to respond to today's loan sales volumes. The aim of restructuring was to keep optimal and efficient sales and support structure and to retain the profitability of the activities also in a complicated economic environment.

As of 30 June 2009 the volume of cash and equivalents totalled 475.7 million kroons (17.1% of total assets).

The structure of liabilities has not considerably changed in the 2nd quarter. Bonds (1 230.1 million kroons) and term deposits (732.2 million kroons) continue to form the largest share of liabilities. As of the end of the 2nd quarter the total volume of liabilities amounted to 2 139.8 million kroons.

In the 2nd quarter of 2009 the interest income amounted to 151.3 million kroons and revenue related to debt collection proceedings amounted to 26.5 million kroons.

in the 2nd quarter of 2009 the volume of loans with payment delays over 90 days in the consolidation group decreased by 34.4 million kroons to 924.0 million kroons. In addition to some positive changes in macroeconomic situation and payment discipline of private individuals, the decrease in non-performing loan portfolio also relates to more effective debt management and collection methods used by the bank.

The impairment allowance costs totalled 54.4 million kroons in the 2nd quarter. As of 30 June 2009 the total volume of impairment allowances amounted to 343.3 million kroons.

In the 2nd quarter the net profit of the reporting period amounted to 44.8 million kroons (40.5 million kroons in the 2nd quarter of 2008). As of the end of the 2nd quarter of 2009 equity totalled 637.7 million kroons (579.4 million kroons as of the end of 2008). The share of equity amounted to 23.0% of total assets.

As of 30 June 2009 the Group had 28 offices all over the Baltics, of which 11 offices were located in Estonia, 7 in Latvia and 10 in Lithuania. As of 30 June 2009 there were 361 employees working in the Group, including 166 in Estonia, 125 in Latvia and 70 in Lithuania.