Banks, Estonia, Financial Services, Loan

Banks earnings before discounts grew by nearly 30% in the year-on-year comparison, to 8.2 million euros. Net profits earned in the second quarter amounted to 1.8 million euros, or by 0.6 million euros lower than during the same period of time last year.

As of June 30, the volume of Bigbank’s balance sheet was 315 million euros.

“Bigbank has continued growing, prompted by better interest rates and new markets,” said the CEO of Bigbank Kaido Saar. “In Estonia, we have competed with universal banks, and have found our clear niche; as a specialised bank we have gained market share in issuing consumer loans, which has also been our principal objective,” he added.

According to Saar, abroad Bigbank has guaranteed success by reasonable interest rates offered to deposits.