Estonia

Denmark I Estonia I Finland I Iceland I Latvia I Lithuania I Norway I Sweden Hansabank officially became a wholly owned subsidiary of Swedbank at the start of July 2005, and the Swedish bank has good reason to celebrate the inclusion in its portfolio of a leading player not just in Estonia but across the Baltic region. In spite of a significant decrease in lending margins brought about by increased competition in 2005, Hansabank’s cost-income ratio remained broadly unchanged while the dip in its return on equity has been marginal. Heightened competition in the Estonian market has left Hansabank’s commanding market shares stable, with mortgage, corporate and retail lending expanding by 82%, 50% and 63%, respectively, in 2005.