Earnings Release • Oct 22, 2025
Earnings Release
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Coop Pank unaudited financial results for Q3 2025
By the end of the Q3 2025, Coop Pank had 222,000 customers, increased by 4,000
customers in the quarter (+2%) and by 20,000 in the year (+10%). The bank had
105,400 active customers, increased by 1,800 (+2%) in the quarter and by 10,000
(+10%) in the year.
In Q3 2025, volume of deposits in Coop Pank increased by 105 million euros
(+6%), reaching total of 1.91 billion euros. Deposits from private customers
increased by 9 million euros: demand deposits remained at the same level
compared to the previous quarter and term deposits increased by 9 million euros.
Deposits from domestic business customers increased by 24 million euros: demand
deposits increased by 44 million euro and term deposits decreased by 20 million
euros. Deposits from international deposit platform increased by 71 million
euros and other financing increased by 40 million euros. Compared to Q3 2024,
volume of Coop Pank's deposits has increased by 83 million euros (+5%). In Q3
2025, the bank's financing cost was 2.3%, at the same time last year the
financing cost was 3.3%.
In Q3 2025, net loan portfolio of Coop Pank increased by 80 million euros (+4%),
reaching 2.0 billion euros. Over the quarter, the strongest growth was shown in
the business loans portfolio, which increased by 48 million euros (+6%). Home
loans increased by 32 million euros (+4%), consumer finance portfolio increased
by 2 million euros (+2%) and leasing portfolio decreased by 2 million euros (-
1%). Compared to Q3 2024, total loan portfolio of Coop Pank has grown by 362
million euros (+22%).
In Q3 2025, overdue loan portfolio of Coop Pank was at the level 2.3%. A year
ago, overdue loan portfolio was at the level of 2.4%.
Impairment costs of financial assets in Q3 2025 were 0.7 million euros, which is
0.7 million euros more than in previous quarter and 0.4 million euros more than
in Q3 2024.
Net income of Coop Pank in Q3 2025 was 19.5 million euros, remaining at the same
level as in the previous quarter and decreasing by 8% in an annual comparison.
Operating expenses reached 10.5 million euros in Q3, increasing by 4% in the
quarterly comparison and by 2% in the annual comparison.
In Q3 2025, net profit of Coop Pank was 7 million euros, which is 5% more than
in the previous quarter and 19% less than a year ago. In Q3 2025, cost to income
ratio of the bank was 54% and return on equity was 12.5%.
As of 30 September 2025, Coop Pank has 34,000 shareholders.
Arko Kurtmann, Chairman of the Management Board of Coop Pank, comments the
results:
"Although the Estonian economy has not yet regained its growth momentum, we have
observed a sustained increase in companies' interest in investments and
financing. When companies proactively implement their investment plans, it
contributes to economic recovery and growth.
This trend is further supported by the stabilised interest rate environment
since spring and the prevailing money market forecasts suggesting that Euribor
will remain around 2%. These factors promote the use of loan capital and
contribute to lowering the bank's cost of funding, which in turn supports a
return to a profitable growth trajectory.
In the third quarter, Coop Pank's loan portfolio showed strong growth,
increasing by 80 million euros and exceeding the 2 billion euros threshold for
the first time, thereby achieving ahead of schedule the strategic goal set for
the beginning of 2027. Deposits at Coop Pank grew by 105 million euros over the
same period.
Changes also took place in the composition of Coop Pank's Management Board and
executive leadership during the third quarter. The Supervisory Board appointed
Arko Kurtmann as the new Chairman of the Management Board and Lehar Kütt as a
new member of the Management Board. The executive team was further strengthened
by the addition of Alvar Pihlapuu as Chief Information Officer and Deiro Kaju as
Head of the Corporate Financing Business Line.
A notable development in the third quarter was the opening of state accounts at
Coop Pank. With this, Coop Pank became the second domestically owned bank in
Estonia to hold state accounts. As a result, all customers can now make payments
to the Tax and Customs Board's account at Coop Pank for tax and state obligation
settlements, as well as to the Ministry of Finance's account for the payment of
state fees and other public liabilities. The trust placed in Coop Pank by the
Estonian state is a significant acknowledgement for us.
The bank's growing business volumes, the high quality of its loan portfolio, and
effective cost management led to a solid net profit of 7 million euros in the
third quarter. The cost-to-income ratio stood at 54%, and return on equity
reached 12.5%."
Net interest income 18 299 18 003 20 021 54 231 58 420
Net fee and commission income 1 100 1 166 1 040 3 420 3 054
Payroll expenses -6 472 -5 917 -6 138 -17 968 -17 405
Marketing expenses -370 -453 -593 -1 182 -1 902
Rental and office expenses, depr. of
tangible assets -683 -777 -729 -2 267 -2 299
IT expenses and depr. of intangible
assets -1 903 -1 724 -1 579 -5 240 -4 457
Net profit before impairment losses 9 083 9 453 10 967 28 327 32 135
Impairment costs on financial assets -664 -1 367 -1 022 -2 257 -2 822
Net profit before income tax 8 419 8 086 9 945 26 070 29 313
Earnings per share, eur 0,07 0,06 0,08 0,21 0,25
Statement of financial position,
in th. of euros 30.09.2025 30.06.2025 31.12.2024 30.09.2024
Cash and cash equivalents 416 495 356 473 343 678 404 472
Debt securities 52 647 47 832 37 751 37 445
Loans to customers 2 023 349 1 943 420 1 774 118 1 661 152
Customer deposits and loans
received 1 957 852 1 816 313 1 886 145 1 838 626
Debt securities issued 254 676 253 537 0 0
Other liabilities 28 752 30 645 27 683 28 026
The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting
Coop Pank will organise a webinar on 22 October 2025 at 9:00 AM, to present the
financial results of Q3 2025. For participation, please register in advance at:
https://bit.ly/CP-veebiseminar-registreeru-22102025
The webinar will be recorded and published on the company's website
www.cooppank.ee (http://www.cooppank.ee) and on the YouTube channel
(https://www.youtube.com/@cooppank).
Coop Pank, based on Estonian capital, is one of the five universal banks
operating in Estonia. The bank has 222,000 daily banking clients. 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: +372 516 0231
E-mail: [email protected] (mailto:[email protected])
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