Observer Eesti Oü

WEEK 21st 2003

Friday 23rd of May, 2003

News in one sentence
Hansapank is the biggest company in Baltic States in part of market capitalization in the ranking of 100 biggest Eastern European companies, composed by Financial Times.
(Eesti Päevaleht)

Banks encourage taking instalment
Banks are alluring clients to purchase with installments – Hansapank's Ego card cheapened in the beginning of the month, Ühispank's Magnet might get cheaper in the coming days. Most widely used installment card is Hansapank's Ego card, which currently has 61,000 clients. The interest rate of Ego is 16% and the average amount is EEK 11,000.

Thursday 22nd of May, 2003

Estonia ahead of Latvia by 23%
Considering the fact that the economic levels of all three Baltic countries were equal in 1990, then by now, Estonia is ahead of Latvia by 23% and ahead of Lithuania by 26%, claims macro analyst Maris Lauri from Hansabank Markets. Economies of the three countries are in different economic development phases. Estonian economy is still in the forefront among the Baltic countries, not in part of growth, but in part of economic level. With its early monetary reform and clear monetary politics, Estonia managed to generate a head start. The value of Estonian GDP is greater: 1% of economic growth per person gives additionally EUR 46 in Estonia. The value of 1% GDP in Latvia and Lithuania is EUR 40 – 41.

Joint Northern stock exchange expands the playground of investors
When the joint stock exchanges of Stockholm and Helsinki expand to a more extensive Baltic-Northern stock exchange, investors will receive new opportunities. Selection is wider to both local and foreign investors. The mergence of HEX and OM joins together the stock exchanges of Sweden, Finland, Estonia and Latvia. Northern stock exchange cooperation Norex comprises the stock exchanges of Stockholm, Oslo, Copenhagen and Reykjavik. After the mergence of OM and HEX, investors can access 80% of Northern shares and 75% of Baltic shares listed at the stock exchanges.

Wednesday 21st of May, 2003

Hansapank share increased over EUR 18
Hansapank share increased by 1.85% up to EEK 283.83 (EUR 18.14). 56 transactions totalled in EEK 29.8 million of turnover. Another leading share, Estonian Telecom, increased by 0.15% up to EEK 102.33.

Monday 19th of May, 2003

Accommodation is a demanded service
Continuing favourable climate of economy increases demand for accommodation services, announced the board of statistics on Friday. Last year, 1.4 million tourists stayed in Estonian accommodation places. This is nearly 15% more than a year earlier. Last year, 3.25 million foreign tourists visited Estonia. Third of them used the local accommodation service.

Loan interest has decreased by 2%
In a year, the housing loan interest has decreased by 1.5 – 2.3% in average. In April, housing loan interests in Estonian commercial banks were 4.9% - 5.8%. Nordea Bank offers the lowest housing loan interests – 4.94%. According to Signe Anton, the marketing manager of Nordea, the supply of new apartments and building plots is wider than ever before.

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