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Completion of merger of Coop Pank AS and CP Varad AS

Written by Customer Service on . Posted in Public Companies.

On 21 December 2022 the merger of Coop Pank AS (Coop Pank) and CP Varad AS was entered into the Estonian Commercial Register. With the entry, the merger has been completed.

As a result of the merger, Coop Pank is the legal successor of CP Varad AS and CP Varad AS was deleted from the Estonian Commercial Registry. With registration of the merger in the Estonian Commercial Registry, all the assets, rights and obligations of CP Varad AS were transferred to Coop Pank. The balance sheet date of the merger was 1 July 2022. Since it is an intragroup merger, it does not have an impact on the consolidated financial position and rights and obligations of Coop Pank’s group.

Earlier information announced by Coop Pank about the merger is available here and here.

Additional information:
Paavo Truu
CFO
Phone: +372 5160 231
E-mail: paavo.truu@cooppank.ee

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 144,700. 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.

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