LHV Institutional Baltic Insight, June 15th, 2020
* With the coronavirus prevention measures gradually eased in Estonia over the last month, Coop Pank (‘CPA’ or the ‘Group’) managed to nicely expand its operating volumes in May 2020, also presenting decent profitability figures. Although loan impairments remain substantially higher than in the same period last year, the respective May numbers slightly declined compared to April 2020.* However, economic conditions are still deteriorating in Estonia, and there is a lot of uncertainty ahead, which may restrain CPA’s growth prospects and profitability going forward. So far, CPA has succeeded to capitalise on the growing awareness of the COOP brand, the Group’s close cooperation with Coop Estonia’s retail network of c.a. 340 stores across the country and new product offerings.
* Please also refer to the tables in the attachment.
LHV Bank is an independent pan-Baltic bank, based on Estonian capital. The company was founded in 1999 by two founders of Hansapank (today’s Swedbank in the Baltics) and has been offering a full range of investment services for 15 years. In May 2009, LHV received a credit institution licence allowing it to provide all banking services.
The head office is situated in Tallinn, Estonia. Cross-border services are offered in Vilnius, Lithuania and in Riga, Latvia. LHV provides brokerage (institutional and retail), asset management, banking and capital markets services. Compared to other banks, we are more innovative and have more solid experience in investment and entrepreneurship.
The Bank, together with the Group asset management company employs over 320 people. LHV Group shares are listed on Nasdaq Tallinn.
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