LHV Institutional Baltic Insight, March 11th, 2021
* Coop Pank (CPA1T ET) maintained decent growth in its lending and deposit volumes in February 2021, also reporting rather small loan impairment losses, suggesting stable loan quality, and keeping satisfactory monthly profitability levels. Interestingly, after several months of declining deposits attracted from the Raisin platform, the respective volume increased again during the last month.* So far, CPA has successfully implemented its growth strategy and capitalised on the growing awareness of the ‘COOP’ brand, quick decision-making processes, and new product offerings. However, considering the persistently high COVID-19 infection rates and new stricter lockdown measures imposed from 11th March, economic conditions may deteriorate again in Estonia.
* We consider CPA’s February growth and profitability figures as neutral while keeping in mind that a fair amount of caution is warranted when considering the Group’s outlook for 2021 due to the environment the Company is operating within.
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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