In 2003 in Estonia, AS Balti Investeeringute Grupp (BIG) earned, on the basis of unaudited results, 18.2 million kroons of profit, with 4 million of it coming from the special sale of shares in AS Hiiu Turvas. The resulting 14.2 million kroons of net profit from the company's principal activity is, according to Targo Raus, Chairman of the Board of BIG, approximately 68% more than the figure for the year 2002.

During the last year, BIG issued a total of 131.9 million kroons in loans, which is 36.2% more than in 2002.

The bond portfolio grew by 14.8% in comparison to the previous year, reaching 69.3 million kroons.

The loan portfolio grew by 41% in 2003 and reached 151.4 million kroons.

Targo Raus added that the greater part of all the loans issued in 2003 consisted of short-term and consumer-oriented loans that have also been recently used actively for the provisional financing of housing purchases. Thus, in comparison to 2002, the role of BIG in offering bridge financing to enterprises and private persons has grown in importance.

The assets of BIG increased by 33.6% in comparison to 2002, totalling 174.4 million kroons, and the loan portfolio (gross) increased by 39%, reaching 153 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. The goal of the enterprise is to provide both private and business customers with fast, attentive and flexible financial services. For this year, BIG has planned to expand its sales network. In January, a branch office was opened at the Lasnamäe Centrum and soon branch offices will be opened at the ÿlemiste Centrum and in Narva.

Additional information 6309 938
Targo Raus, Chairman of the Board