Banks, Estonia, Financial Services, Latvia, Loan

In the second quarter of 2014, Bigbank profit before asset impairments totaled EUR 8.2 million – a 29.8% increase year-on-year. However, profit after tax was EUR 1.8 million, down from the second quarter of 2013 when profit after tax was EUR 2.4 million, as the bank's press release indicates.

The bank's interest income in the second quarter of 2014 reached EUR 14 million, which is 8.9% (EUR 1.1 million) more than 12 months ago. This was due to an increase in the bank's credit portfolio. Meanwhile, interest costs remained the same as last year.

Bigbank Group assets increased to EUR 315 million or EUR 2.4 million during the second quarter.

The Latvian subsidiary of Bigbank is run by Artis Berzins, who says that Bigbank managed to preserve stable positions on the market both in Latvia and Estonia.

At the end of the second quarter, Bigbank Group signed a total of 180,000 loan contracts, 43,000 of which in Estonia, 70,000 – in Latvia, 35,000 – in Lithuania, 16,000 – in Finland, 10,000 – in Spain, and 6,000 – in Sweden.

The bank has a total 11 customer service centers – three in Estonia, two in Latvia, five in Lithuania, and one in Spain.