Ajankohtaista

Survey: Estonian residents less interested in different lenders than Latvians and Lithuanians The consumer credit survey commissioned by Bigbank and carried out by RAIT Faktum&Ariko revealed that in comparison with Latvia and Lithuania, Estonians compare the offers of different lenders the least often – only 31% of Estonian request offers from other financial companies. In Latvia and Lithuania is these percentages are 37 and 45, respectively. “Estonians are generally very price sensitive, whether shopping for groceries or using various services,” said Head of Bigbank Estonian Branch Andrus Kuus. “Unfortunately, people forget that lenders also provide services, so it would be ...

As part of the Banking Technology Awards 2017, the new NEST information system developed by Bigbank in cooperation with Icefire has been named one of the 10 best banking technology development projects in the world in the ‘Best Tech Overhaul Project’ category. The overall winner at the awards ceremony held in London was India Post, with Allied Irish Bank also receiving praise. Other nominees in this category were Deutsche Bank, HSBC, Saxo Bank and many other well-regarded players. “Developing the world’s most modern microservice-based banking platform was a truly unique opportunity for Icefire,” said the company’s CTO Jan Lakspere. “The ...

Bigbank AS issued subordinated notes in the amount of 5 million euros in December with a term of 10 years and a fixed interest rate of 6.5% p.a. The private placement was organised in cooperation with LHV pension funds and its objective was to reinforce Bigbank’s capital base in compliance with the bank’s strategy and growth objectives. “Our cooperation with LHV Varahaldus was fast and professional – it brought us great joy to see investments to local markets, which means that it is also beneficial for the customers of Estonian pension funds,” said Sven Raba, Chairman of the Management Board ...

Bigbank’s loan portfolio grew by 15.1% or 54.9 million euros in the first three quarters of 2017, of which 16.1 million euros represents growth in Q3. The loan portfolio grew by 4% during Q3, with the biggest growth posted by the bank’s Latvian subsidiary. Bigbank’s profit in Q3 was 4.5 million euros, with a balance sheet total of 440 million euros, an increase of 19.7 million euros on the previous quarter. “Our profits have been influenced by both the growth in the loan portfolio and its quality, which has improved markedly,” said Chairman of the Management Board of Bigbank AS ...

Special bank Bigbank AS, which is fully based on Estonian capital and represented in nine countries, joined the Estonian Banking Association and from now on, there are 13 members in the association representing the interests of banks. The Estonian Banking Association is a member of the European Banking Federation. “Bigbank wants to support and contribute to all of its operating states to help to achieve the field’s strategic objectives both on the local and the pan-European level,” said Sven Raba, Chairman of the Management Board of Bigbank. “Membership in important professional associations helps us to acquire necessary information and contribute ...

Bigbank was founded in Tartu in 1992. In its early years, it was something of a pioneer in the Estonian financial market: it was the first bank to issue small loans, and in October 1995 issued its first bonds. Before long the bank outgrew the modest Estonian market, going international in 1996 when it established a subsidiary in neighbouring Latvia. By 2004 the Baltic Investment Group had become the biggest lender in Estonia after leasing firms and banks, earning net profit of more than 21 million kroons in the first three quarters of the year alone. That same year the ...

Kaido Saar, the present Chairman of the Management Board of Bigbank AS, will vacate the position he has held for a long time on 1 September, and he will be replaced by the current management board member Sven Raba. “Kaido leaving us is sad, but understandable – 15 years is a third of a person’s working life, which is a very long time,” said Chairman of the Supervisory Board of Bigbank Parvel Pruunsild. “Sven Raba has a lot of experience in the areas of finance and IT, and he has worked in banking for more than 20 years, 12 of ...