|
Off-balance sheet liabilities Off-balance sheet liabilities grew in the year from 1,289.1 million EEK to 1,715.0 million EEK, indicating a growth rate of 33.0%. Off-balance sheet liabilities formed 49.8% of the group's total assets at the beginning of 1996 and 38% at the end of the year. So the growth in off-balance sheet liabilities was slower than that of the total assets. 81.9% of the off-balance sheet entries at the end of 1996 were derivatives. These include primarily swaps and forwards related to foreign currency exchange rate. Most part of the transactions were entered into for covering open foreign currency positions. In 1996, there was also an increase in the number of transactions concluded at the request of clients. The Bank has planned to widen the number of off-balance sheet products offered to clients with options. 12.7% of the off-balance sheet entries were formed by open credit lines, 5.0% by issued guarantees and 0.4% by opened letters of credit. |