Coop Pank unaudited financial results for Q3 2025
By the end of the Q3 2025, Coop Pank had 222,000 customers, increased by 4,000 customers in the quarter (+2%) and by 20,000 in the year (+10%). The bank had 105,400 active customers, increased by 1,800 (+2%) in the quarter and by 10,000 (+10%) in the year.
In Q3 2025, volume of deposits in Coop Pank increased by 105 million euros (+6%), reaching total of 1.91 billion euros. Deposits from private customers increased by 9 million euros: demand deposits remained at the same level compared to the previous quarter and term deposits increased by 9 million euros. Deposits from domestic business customers increased by 24 million euros: demand deposits increased by 44 million euro and term deposits decreased by 20 million euros. Deposits from international deposit platform increased by 71 million euros and other financing increased by 40 million euros. Compared to Q3 2024, volume of Coop Pank’s deposits has increased by 83 million euros (+5%). In Q3 2025, the bank’s financing cost was 2.3%, at the same time last year the financing cost was 3.3%.
In Q3 2025, net loan portfolio of Coop Pank increased by 80 million euros (+4%), reaching 2.0 billion euros. Over the quarter, the strongest growth was shown in the business loans portfolio, which increased by 48 million euros (+6%). Home loans increased by 32 million euros (+4%), consumer finance portfolio increased by 2 million euros (+2%) and leasing portfolio decreased by 2 million euros (-1%). Compared to Q3 2024, total loan portfolio of Coop Pank has grown by 362 million euros (+22%).
In Q3 2025, overdue loan portfolio of Coop Pank was at the level 2.3%. A year ago, overdue loan portfolio was at the level of 2.4%.
Impairment costs of financial assets in Q3 2025 were 0.7 million euros, which is 0.7 million euros more than in previous quarter and 0.4 million euros more than in Q3 2024.
Net income of Coop Pank in Q3 2025 was 19.5 million euros, remaining at the same level as in the previous quarter and decreasing by 8% in an annual comparison. Operating expenses reached 10.5 million euros in Q3, increasing by 4% in the quarterly comparison and by 2% in the annual comparison.
In Q3 2025, net profit of Coop Pank was 7 million euros, which is 5% more than in the previous quarter and 19% less than a year ago. In Q3 2025, cost to income ratio of the bank was 54% and return on equity was 12.5%.
As of 30 September 2025, Coop Pank has 34,000 shareholders.
Arko Kurtmann, Chairman of the Management Board of Coop Pank, comments the results:
“Although the Estonian economy has not yet regained its growth momentum, we have observed a sustained increase in companies’ interest in investments and financing. When companies proactively implement their investment plans, it contributes to economic recovery and growth.
This trend is further supported by the stabilised interest rate environment since spring and the prevailing money market forecasts suggesting that Euribor will remain around 2%. These factors promote the use of loan capital and contribute to lowering the bank’s cost of funding, which in turn supports a return to a profitable growth trajectory.
In the third quarter, Coop Pank’s loan portfolio showed strong growth, increasing by 80 million euros and exceeding the 2 billion euros threshold for the first time, thereby achieving ahead of schedule the strategic goal set for the beginning of 2027. Deposits at Coop Pank grew by 105 million euros over the same period.
Changes also took place in the composition of Coop Pank’s Management Board and executive leadership during the third quarter. The Supervisory Board appointed Arko Kurtmann as the new Chairman of the Management Board and Lehar Kütt as a new member of the Management Board. The executive team was further strengthened by the addition of Alvar Pihlapuu as Chief Information Officer and Deiro Kaju as Head of the Corporate Financing Business Line.
A notable development in the third quarter was the opening of state accounts at Coop Pank. With this, Coop Pank became the second domestically owned bank in Estonia to hold state accounts. As a result, all customers can now make payments to the Tax and Customs Board’s account at Coop Pank for tax and state obligation settlements, as well as to the Ministry of Finance’s account for the payment of state fees and other public liabilities. The trust placed in Coop Pank by the Estonian state is a significant acknowledgement for us.
The bank’s growing business volumes, the high quality of its loan portfolio, and effective cost management led to a solid net profit of 7 million euros in the third quarter. The cost-to-income ratio stood at 54%, and return on equity reached 12.5%.”
| Income statement, in th. of euros | Q3 2025 | Q2 2025 | Q3 2024 | 9M 2025 | 9M 2024 |
| Net interest income | 18 299 | 18 003 | 20 021 | 54 231 | 58 420 |
| Net fee and commission income | 1 100 | 1 166 | 1 040 | 3 420 | 3 054 |
| Net other income | 143 | 375 | 167 | 745 | 438 |
| Total net income | 19 543 | 19 544 | 21 227 | 58 397 | 61 913 |
| Payroll expenses | -6 472 | -5 917 | -6 138 | -17 968 | -17 405 |
| Marketing expenses | -370 | -453 | -593 | -1 182 | -1 902 |
| Rental and office expenses, depr. of tangible assets | -683 | -777 | -729 | -2 267 | -2 299 |
| IT expenses and depr. of intangible assets | -1 903 | -1 724 | -1 579 | -5 240 | -4 457 |
| Other operating expenses | -1 031 | -1 220 | -1 221 | -3 414 | -3 716 |
| Total operating expenses | -10 459 | -10 091 | -10 261 | -30 069 | -29 777 |
| Net profit before impairment losses | 9 083 | 9 453 | 10 967 | 28 327 | 32 135 |
| Impairment costs on financial assets | -664 | -1 367 | -1 022 | -2 257 | -2 822 |
| Net profit before income tax | 8 419 | 8 086 | 9 945 | 26 070 | 29 313 |
| Income tax expenses | -1 448 | -1 437 | -1 296 | -4 537 | -3 528 |
| Net profit for the period | 6 971 | 6 649 | 8 649 | 21 533 | 25 785 |
| Earnings per share, eur | 0,07 | 0,06 | 0,08 | 0,21 | 0,25 |
| Diluted earnings per share, eur | 0,07 | 0,06 | 0,08 | 0,20 | 0,25 |
| Statement of financial position, in th. of euros | 30.09.2025 | 30.06.2025 | 31.12.2024 | 30.09.2024 |
| Cash and cash equivalents | 416 495 | 356 473 | 343 678 | 404 472 |
| Debt securities | 52 647 | 47 832 | 37 751 | 37 445 |
| Loans to customers | 2 023 349 | 1 943 420 | 1 774 118 | 1 661 152 |
| Other assets | 39 443 | 36 090 | 33 066 | 31 956 |
| Total assets | 2 531 934 | 2 383 816 | 2 188 614 | 2 135 025 |
| Customer deposits and loans received | 1 957 852 | 1 816 313 | 1 886 145 | 1 838 626 |
| Debt securities issued | 254 676 | 253 537 | 0 | 0 |
| Other liabilities | 28 752 | 30 645 | 27 683 | 28 026 |
| Subordinated debt | 63 348 | 63 148 | 63 148 | 63 410 |
| Total liabilities | 2 304 629 | 2 163 642 | 1 976 977 | 1 930 062 |
| Equity | 227 305 | 220 174 | 211 637 | 204 963 |
| Total liabilities and equity | 2 531 934 | 2 383 816 | 2 188 614 | 2 135 025 |
The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting
Coop Pank will organise a webinar on 22 October 2025 at 9:00 AM, to present the financial results of Q3 2025. For participation, please register in advance at: https://bit.ly/CP-veebiseminar-registreeru-22102025
The webinar will be recorded and published on the company’s website www.cooppank.ee and on the YouTube channel.
Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 222,000 daily banking clients. 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 320 stores.
Additional information:
Paavo Truu
CFO
Phone: +372 516 0231
E-mail: paavo.truu@cooppank.ee
Attachments
