AS Balti Investeeringute Grupp (BIG) earned 5.7 million kroons of net profit in the first quarter of this year. The profit was guaranteed by an increase in the customer base and the popularity of small loans with private customers. Last year's profit for the same period was 1.4 million kroons.

According to Targo Raus, Chairman of the Board of the Baltic Investment Group, the increase has been the result of finding the company's market niche and operating there successfully. This is also shown by the increasing customer base of the company, which has risen by 13.1% compared to the first quarter of last year.

"As we have primarily specialised in small loans for private customers, we can better assess the risks involved with this particular segment and therefore develop and price our products better. As a rule, the intended use of loans is not limited and our loans are frequently used for obtaining the self-financing part of a housing loan or down payment of a new home," Raus added.

BIG issued a total of 25.8 million kroons in loans within the first three months this year, which is 3.8% more than last year. The net loan portfolio increased by 33.9%, reaching up to 147.8 million kroons and the bond portfolio by 20.8%, reaching up to 70.9 million kroons.

The amount of company assets increased 31.2% in the first quarter compared to the year 2003, amounting to 178.2 million kroons.

AS Balti Investeeringute Grupp is the largest specialised lender of money to private persons in the Baltic States after banks and leasing companies, having more than 3,500 customers today. The goal of the enterprise is to provide both private and business customers with fast, attentive and flexible financial services.

Additional information:
Targo Raus,
Chairman of the Board
Tel: 6309 938