Swedbank Estonia reported first half of 2021 profits of EUR 89.2 million, a rise of a little under 2% YoY. The increase in profit, of EUR 1.6 million, was mainly the result of increased income for the bank. Olavi Lepp, Swedbank AS CEO, said: “Restrictions related to the COVID-19 pandemic were eased in the second…
Estonia’s state spending in the first five months of 2021 was not as excessive over revenue as planned in the state budget. On July 14, the Estonian public broadcaster reported that from January to May general government budget deficit reached 1.6% of the gross domestic product and was EUR 467 million. Set against the end…
The Estonian units of SEB ended the first half of 2021 with a profit of EUR 50.7 million, up by 23.3% YoY. Compared to the first half of 2020, the bank’s revenues increased by 0.4%, to EUR 85.6 million, while expenses declined by 5%, to EUR 28.9 million. SEB’s loan portfolio increased by 2.4% in…
The state is looking at replacing a catamaran ferry, which connects the small island of Ruhnu with the Estonian mainland, but which has been prone to technical issues, most recently this week and largely due to its intense schedule. The procurement process would take three or more years and will see the vessel, called the…
The ferry regularly servicing the small Estonian island of Ruhnu is out of commission again due to engine problems. Authorities have found a stop-gap solution via the use of one of their own boats. The Runo, a catamaran-type vessel, has been taken out of service due to an engine issue, not for the first time…
Ferry line TS Laevad, which connects Estonia’s larger islands to the mainland, has reported a year-on-year increase in passenger numbers of 14%, with the Hiiumaa route seeing a record result. TS Laevad, a subsidiary of the part-state-owned, part-listed Port of Tallinn (Tallinna Sadam), carried 271,325 passengers in June. June 2020 was, however, the first full…
Exports and imports both rose by around a half in May, state agency Statistics Estonia reported, driven by fuels, electrical and transport equipment in particular, as well as 2020’s low reference base – the result of the pandemic. Exports totaled EUR 1.5 billion, up by 47% YoY, while imports came to EUR 1.6 billion, up…