Coop Pank AS results for January 2022

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:

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:

Attachment