Banks, Estonia, Financial Services

The operating revenues of the bank were 30.7 million euros versus 31.6 million euros last year and operating expenses 16.4 million euros versus 19.7 million euros last year.

The bank reduced net credit losses to 1.9 million euros in the first quarter from 15.2 mln euros at the same time last year.

The volume of loan projects in works has grown more than two times as compared to the second half of last year and reaches to more than 400 million euros. “If that tendency continues, the corporate loan portfolio will start growing again this year after falling for three years,” said SEB Pank board member Allan Parik.

Private clients have become more active in everyday banking but at the loan market a certain fall has taken place as compared to the second half of last year.