Coop Pank AS results for April 2025

Coop Pank AS Registered Shs

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Coop Pank’s financial results in April 2025:

• In April, number of the bank's clients increased by 1,700 and number of active clients decreased by 100. By the end of the month number of clients reached 214,400 and number of active clients reached 101,600. Over the year, customer base has grown by 12%. 
• Volume of the bank's customer deposits decreased by 107 million euros in April. The reduction in deposit volume was a deliberate step, as an additional 250 million euros was raised in March through the issuance of covered bonds. By the end of the month, the bank's deposits reached 1.81 billion euros. Deposits of corporate customers decreased by 74 million euros and deposits of private customers decreased by 5 million euros. The volume of deposits attracted from international platforms decreased by 28 million euros. Over the year, volume of bank deposits has grown by 4%.
• The bank's loan portfolio increased by 53 million euros and reached 1.87 billion euros by the end of month. Business loans increased by 39 million euros and home loans increased by 13 million euros. Leasing and consumer financing portfolios both increased by nearly 1 million euros. Over the year, loan portfolio has grown by 20%.
• In April, the loan impairment cost was 0.8 million euros.
• Compared to the first four months of last year, the bank's net income decreased by 5% and expenses have increased by 2%.
• In April, the bank earned net profit of 1.8 million euros. In the first four months of the year, the bank has earned a net profit of 9.7 million euros, that is 19% less than in the same period last year.
• In April, Coop Pank's return on equity was 10.3% and the cost-income ratio was 53%.
  
  

Comment by Paavo Truu, Member of the Management Board and CFO of Coop Pank:

"In April, Coop Pank issued a large volume of business and home loans, resulting in strong growth of the loan portfolio. Both the leasing and consumer finance portfolios also grew by nearly one million euros each. Since certain provisions must be made from the very first day for all loans, the rapid growth of the loan portfolio was the main reason for the larger amount of provisions booked in April.

Despite the ongoing uncertainty in the economy, the quality of Coop Pank’s loan portfolio remains very strong.

Due to rapid price increases and changes in the tax system, people have increasingly been purchasing used cars. In response, Coop Pank introduced a new leasing product in April, specifically designed for financing the purchase of used vehicles.

Conscious reduction of deposit volume is linked to the successful international covered bond issuance – in March, Coop Pank completed its first issuance of four-year covered bonds in the amount of 250 million euros. Thanks to this, the bank now has access to a long-term and stable funding source, which allows for a partial reduction in the volume of more expensive term and foreign deposits now and going forward."

More detailed financial 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 214,400. 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 5160 231
E-mail: paavo.truu@cooppank.ee

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• Coop Pank 2025-04_EN