Assets declined by 3% or by EUR 4.34 million, in the second quarter of 2020, the Bank of Estonia said, despite the aggregate balance sheet of savings and loan associations increasing during that time. Q2 bore the brunt of the coronavirus pandemic so far.
Assets grew by 1% or by EUR 1.43 million in Q3, the bank added. Yearly growth stood at 6% and assets totaled EUR 160.4 million at the end of Q3.
The balance of deposits stood at EUR 125.7 million at the end of Q3, of which EUR 116.3 million came from deposits from private individuals.
The total balance of deposits shrank by 0.3% (EUR 420,000), but the deposits of individuals increased by 0.4% or by EUR 440,000 in the third quarter.
The balance of deposits was up by 3% YoY.
The balance of deposits and loans to private individuals and non-financial corporations has grown in the past three years, except for in the preceding two quarters, when the balance fell.
Private individuals’ deposits made up 94% of the total deposits of the combined figure of private individuals and non-financial corporations, in Q3.
Non-financial corporations received 77% of loans issued, the Bank of Estonia said.
The balance of loans totaled EUR 127.2 million, of which EUR 97.7 million came in loans to non-financial corporations.
The total volume of loans stood at EUR 13.2 million, or 11.6% higher than the figure a year earlier, since loans to non-financial corporations increased by EUR 11.87 million, or by 13.8%.
Shares of time deposits of both private individuals stood at 85% for private individuals and 80% for non-financial corporations in the third quarter of 2020. Both figures have been declining over the past three years.
The cumulative profit or loss in the annual reports of savings and loan associations stood at EUR 714,700 at the end of Q3. The figure this time in 2019 was EUR 782,500.
Net profit arising from interest was EUR 1.3 million in Q3; in Q1 the figure was EUR 344,200. In Q3 2019 the figure was EUR 775,500.
Savings and loan associations counted 15,445 members at the end of Q2, up by 6%.
The number of members joining each quarter fell steadily from Q4 2019 to Q3 2020, when 222 members joined.
Claims stated as unlikely to be repaid totaled EUR 528,800, or 0.4% of the loan portfolio, at the end of Q3, up by EUR 9,000 QoQ.
Claims assessed as doubtful rose by EUR 80,000 over the year. (ERR/Business World Magazine)
