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Coop Pank Capital/Financing Update 2021
2213_iss_2021-09-01_dd5d0e12-78e7-4ebc-85f8-49f26f4b878b.pdf
Capital/Financing Update
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| Company | Coop Pank AS |
|---|---|
| Type | Company Release |
| Category | Other corporate action |
| Disclosure time | 01 Sep 2021 12:30:00 +0300 |
Currency
The rating agency Moody's affirmed Coop Pank a credit rating of Baa2 Title
Moody's Investors Service renewed the credit rating of AS Coop Pank. Investment grade credit rating with a stable outlook was affirmed at the same level as year ago.
According to Margus Rink, Chairman of the Management Board of Coop Pank, the renewal of the credit rating confirms that with the rapid growth of the loan portfolio, the bank has been able to maintain its quality at a high level while showing good profitability. "I believe that the upgrade will give especially for corporate customers, the Estonian state and local governments additional confidence to become a customer of Coop Pank and keep their finances in a domestic financial institution," said Rink.
Ratings confirmed by Moody's Investors Service for AS Coop Pank:
- * Long- and short-term counterparty risk assessment of Baa1(cr)/Prime-2(cr)
- * Long- and short-term counterparty risk rating of Baa1/Prime-2
- * Foreign- and local currency long-term bank deposit rating Baa2
- * Foreign- and local currency short-term bank deposit rating Prime-2
- * Adjusted baseline credit assessment ba1
- * Baseline credit assessment (BCA) ba1
The long-term deposit ratings carry a stable outlook.
The announcement on the report prepared by Moody's can be found at https://www.moodys.com/
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 102 300. 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.
Finantsinspektsioon http://www.fi.ee
Additional information: Kerli Lõhmus CFO Phone: +372 669 0902 E-mail: [email protected]
Finantsinspektsioon http://www.fi.ee
