Observer Eesti Oü

WEEK 47th 2003

Monday, 19th of November, 2003

Amount of life insurance premiums up by 31 percent in ten months
In ten months this year, Estonian life insurance companies collected EEK 434.8 million of premiums, which is nearly 31 percent more than in respective period last year.
The companies paid EEK 70.32 million of benefits in ten months.
Hansapank Insurance managed to collect the most premiums in ten months – EEK 191 million. During the same period, the company paid EEK 46 million of benefits.

Tuesday, 18th of November, 2003

Amount of private loans to reach a new record level
A loan burden of private persons in Estonia achieved a new record in October. Analysts agree that such a growth cannot last long.
In October, the amount of loans issued to private persons by commercial banks of Estonia increased by EEK 840 million.
Kersti Arro from Hansapank admitted that October have Hansapank an all time record in terms of leasing and housing loans. There are two peak periods a year - in May and in October, when people start borrowing money after an active vacation, explained Arro.

Positive developments in balance of payments
Maris Lauri, analyst of Hansapank admits that although the deficit of preliminary balance of payments of Estonia was high in the 3Q, there are also some positive developments.
Improvements can be noticed primarily in part of services, the deficit of services' account compared to former quarters and also to last year, is fairly decent, said Lauri.
In September, the deficit of balance of payments was EEK 767 million, in August – EEK 1.147 billion and in July EEK 1.265 billion.
(Eesti Päevaleht)

Erste Bank: only Hansapank to have potential in the Eastern Europe
In their fresh research, analysts of Austrian bank Erste Bank wrote that most banks in the Eastern Europe are too expensive. Hansapank is the only bank in the region that has potential.
In addition, Erse Bank noted that new European Union member states will win the most from the crises of Russian Jukos.

Thursday, 20th of November, 2003

Computer market the biggest by turnover
According to the data of computer wholesale companies, the turnover of computer market was the biggest in October – over EEK 122 million. Tech Data sold 438 laptops in October. Also the sale of digital cameras went up in October. Turnover of GNT Estonia increased by 25 percent compared to October last year.

Nine-month profit of Saku brewery up by fifth
Nine-month net profit of Saku Brewery compared to a year earlier increased by 19.7 percent. In total, Saku Brewery earned EEK 53.259 million of net profit in the first nine months of the year.
Turnover decreased by 2.4 percent to EEK 590 million.
(ÄP online)

Profit of Saku brewery doubled in the 3Q
Profit of Saku Brewery doubled in the 3Q compared to respective period last year. In the 3Q, the brewery earned a net profit of EEK 36.811 million. 3Q profit in 2002 was EEK 18.368 million.
Turnover increased by 1.5 percent to EEK 243.1 million in the 3Q.
(ÄP online)

Estonia on the 28th position in the IT top
In the first worldwide ITC technology top compiled by International Telecommunication Union (ITU) Estonia has taken the 28th position.
With the 0.67 points Estonia precedes many present and future EU members including Latvia and Lithuania that got 0.54 and 0.56 points respectively.
The top is led by Sweden with 0.85 points, it is followed by Denmark with 0.83 and Iceland and South Korea with 0.82 points.
(Eesti Päevaleht)

Friday, 21st of November, 2003

Saku stock closed on top level
Yesterday, the stock of Saku Brewery closed on the highest level in history – EEK 88.40. The stock of Saku Brewery, which published the results of the 3Q, increased by 4.63 percent. Turnover of the stock was EEK 0.5 million.

Cider, gin and kvass are the growth engines of Saku Brewery
In the 3Q, Saku Brewery earned a double profit thanks to the increased sale of cider, gin and kvass and to the decreased expenses on advertising and personnel.
According to analysts of both Hansapank and Ühispank, the profit of Saku Brewery exceeded expectations. Mihkel Torim from Hansabank Markets admitted that they prognosticated the profit to grow by 40 percent in the 3Q, but the profit increased by 100 percent.

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