OREANDA-NEWS. Net profit for the first five months of 2007 amounted to EEK 166 million (five months of 2006: EEK 112 m), a yoy increase of 48%, reported the press-centre of Danske Bank.
 
Operating income reached EEK 423 million, a yoy increase of 49% (283)

Operating expenses totalled EEK 220 million, a yoy increase of 34% (164)

C/I ratio was 52,0 % (58,0%)

ROE was 31,7% (28,6%)

Client deposits totalled EEK 13,5 billion, a yoy increase of 27%

The loan and lease portfolio amounted to EEK 24,0 billion, a yoy increase of 66%

The number of clients totalled 156 th, a yoy increase of 15%.
 
The number of the Internet Bank clients was 144 th, a yoy increase of 21%, accounting for 92% of the total number of clients.
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This interim report describes the result of Danske Bank Group's banking activities in Estonia. Sampo Pank became part of the Danske Bank Group in February, 2007.

These results relate to the banking activities of Sampo Pank which serves both retail and corporate customers. Banking Activities Estonia has 21 branches and around 620 employees. The Banking Activities Estonia's interim report covers the period from February 1 until June 30.

In addition to banking activities, Danske Bank has the following business areas in Estonia: Sampo Baltic Asset Management, Danske Markets.

According to Aivar Rehe, chairman of the management board of Sampo Pank, the Group’s strong business results for the first half of 2007 are attributable to the high quality of its assets.

“It is worth mentioning that in addition to the expected growth in assets, our efficiency indicators have also improved considerably, e.g. return on equity rose to 32% during the first five months of 2007. In view of the quality of our assets, we can be confident that Sampo’s efficient and fast growth will continue.

Even though economic growth in Estonia has slowed down somewhat, Sampo has managed to considerably increase volumes in its priority business areas. We have strongly expanded corporate client servicing with the aim of achieving our strategic goal – to increase the volume of settlements.

In order to offer better services to our retail clients, we have increased our branch and ATM networks and we intend to continue making relevant investments. We are actively developing our electronic channels to further widen our selection of services.”

The full Danske Bank Group interim report can be viewed at www.danskebank.com/reports.