Skip to main content

Coop Pank AS results for January 2022

Written by Customer Service on . Posted in Public Companies.

Coop Pank’s financial results in January 2022:

  • In January, number of the bank’s clients increased by 3000 and reached 117,600 by the end of the month. Over the year, customer base has grown by 32%.
  • Volume of the bank’s customer deposits increased by 27 million euros, reaching 1.13 billion euros by the end of month. Deposits of corporate customers increased by 26 million and deposits of private customers by 5 million euros. The volume of deposits attracted from international platforms decreased by 4 million euros. Over the year, volume of bank deposits has grown by 46%.
  • The bank’s loan portfolio increased by 16 million euros over the month and reached 970 million euros by the end of January. Home loans increased by 9 million euros, business loans by 5 million euros, leasing by 3 million euros, consumer financing by 0.2 million euros. Over the year, loan portfolio has grown by 43%.
  • In January, the loan impairment cost was 0.2 million euros.
  • Compared to the first month of last year, the bank’s net income has increased by 27% and expenses by 23% during the same period this year.
  • The bank earned net profit of 1.5 million euros in January, that is 39% more than in the same period last year.
  • In January, Coop Pank’s return on equity was 15.6% and the cost-income ratio was 52.8%.
      

Comment by Margus Rink, Chairman of the Management Board of Coop Pank:

“If in the past we have seen that individuals and businesses start the year calmly and there are rather few transactions in the first month of the year, then this January was different and surprised with the customers high activity.

In January, local businesses and individuals were active in both submitting applications and signing contracts. This led to large increase in business volumes at the beginning of the year. In addition to the significant increase in the deposit and loan portfolio, 3,000 new customers joined us in January, which is record of all-time. It all resulted with a very decent monthly profit: EUR 1.5 million, which is 39% better than a year ago.”

More detailed quarterly reports of Coop Pank are available at: https://www.cooppank.ee/en/financial-reports

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking reached 117,600. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 330 stores.

Additional information:
Margus Rink
CEO
E-mail: margus.rink@cooppank.ee

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.