Coop Pank AS results for November 2022

Coop Pank’s financial results in November 2022:

• In November, number of the bank's clients increased by 3100 and number of active clients increased by 1900. By the end of the month number of clients reached 144,700 and number of active clients reached 65,600. Over the year, customer base has grown by 29%.
• Volume of the bank's customer deposits increased by 68 million euros, reaching 1.46 billion euros by the end of month. Deposits of corporate customers increased by 2 million euro and deposits of private customers increased by 21 million euros. The volume of deposits attracted from international platforms increased by 45 million euros. Over the year, volume of bank deposits has grown by 38%.
• The bank's loan portfolio increased by 29 million euros over the month and reached 1.27 billion euros by the end of month. Home loans increased by 14 million euros, business loans increased by 12 million euros, leasing by 2 million euros and consumer financing by 2 million euros. Over the year, loan portfolio has grown by 39%.
• Compared to the first eleven months of last year, the bank's net income has increased by 37% and expenses by 21% during the same period this year.
• In November, the bank earned net profit of 2,2 million euros. In eleven months of the year, the bank earned a net profit of 18,4 million euros, that is 48% more than in the same period last year.
• In November, Coop Pank's return on equity was 21.5% and the cost-income ratio was 43%. For eleven months of this year, the return on equity is 17.0% and the cost-income ratio is 50%.

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

"Despite the difficult economic environment, the public offering of Coop Pank shares in November ended successfully and the offer was oversubscribed 4.2 times. The bank gave preference to existing shareholders, customers and bond investors when distributing shares. As a result of the issue, 10.1 million new shares were issued and 20.3 million euros of additional capital was raised, thanks to which the bank can be ready for opportunities that will open-up during the slowdown in economic growth and has a strong capital base when the economy returns to growth.

With the support of the share issue, the number of the bank's customers also grew strongly in November. The loan portfolio showed growth in all business lines, and the payment behaviour of customers continues to be very good. Due to the limitation of domestic deposits, in recent months we have included term deposits from international deposit platforms. By increasing revenues and keeping operational costs under control, Coop Pank earned a strong monthly profit of 2.2 million euros in November. The bank's return on equity was 21.5% and the cost-income ratio was 43%."

Coop Pank’s financial reports 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 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.

Additional information:

Paavo Truu

CFO

Phone:

E-mail:

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