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Coop Pank Earnings Release 2020
2213_iss_2020-11-11_f7ae8d95-56a3-4728-9916-fbb806c61f91.pdf
Earnings Release
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Coop Pank Group Unaudited financial results for October 2020
[email protected] https://www.cooppank.ee/en/investor
October: strong growth in business clients deposits
- Net profit for August was 738 thousand euros. Year-to-date net income was +33%, expenses +17% and profit +22% comparing to 2019.
- The bank is well capitalized. Return-on-equity in October was 9.2%.
- Loan portfolio increased by 27 mln euros in July. Portfolio has increased by 47% Y-o-Y.
- Total deposits increased by 61 mln euros within a month, incl. deposits from business clients by 62 mln euros, private clients 5 mln euros and other deposits decreased 6 mln euros. Yearly growth +51%.
- Coop Pank customer base grew by 2 100 to 82 000.
| Coop Pank Group |
Month | Year-to-Date | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 10.20 | 09.20 | 10.20 | 10.19 | Difference | YoY | ||||
| Net operating income ('000 €) |
2 774 |
2 667 |
25 330 |
19 113 |
+6 217 |
+33% | |||
| Interest | 2 543 |
2 442 |
23 092 |
16 709 |
+6 383 |
+38% | |||
| Service fee and commissions |
193 | 181 | 1 750 |
1 926 |
-176 | -9% | 2019. | ||
| Other | 38 | 45 | 487 | 477 | +10 | +2% | |||
| Operating expenses |
1 695 |
1 514 |
15 204 |
13 036 |
+2 168 |
+17% | |||
| Payroll expenses |
953 | 911 | 9 062 |
8 018 |
+1 044 |
+13% | |||
| Other expenses |
742 | 604 | 6 142 |
018 5 |
+1 124 |
+22% | 9.2%. | ||
| Operating profit |
1 079 |
1 153 |
10 125 |
6 076 |
+4 049 |
+67% | |||
| Financial impairement losses assets |
312 | 353 | 4 386 |
1 523 |
+2 863 |
+188% | |||
| Profit before income tax |
767 | 800 | 5 739 |
554 4 |
+1 186 |
+26% | |||
| Income tax |
29 | 49 | 166 | 0 | +166 | increased by 47% Y-o-Y. | |||
| Net profit |
738 | 750 | 5 573 |
554 4 |
+1 019 |
+22% | |||
| Return on equity (ROE) |
9.2% | 9.7% | 7.3% | 10.3% | -3.0pp | ||||
| Cost / (CIR) income ratio |
61% | 57% | 60% | 68% | -8.2pp | ||||
| interest margin (NIM) Net |
3.7% | 3.9% | 3.9% | 4.1% | -0.2pp | ||||
| Cost of financing |
0.8% | 0.9% | 0.9% | 1.0% | -0.1pp | ||||
| Coop ('000) No. of in Pank customers |
82.0 | 79.9 | 82.0 | 58.3 | +23.7 | +41% | growth +51%. | ||
| portfolio (m€) Net loan |
626.2 | 599.2 | 626.2 | 425.8 | +200.3 | +47% | • | Coop Pank | customer base grew by 2 100 to 82 |
| Deposits received and loans |
749.2 | 688.1 | 749.2 | 494.9 | +254.3 | +51% | |||
| Equity | 94.8 | 94.3 | 94.8 | 58.0 | +36.8 | +64% | |||
| Monthly profit | Loans and deposits | No. of customers in Coop Pank | |||||||
| Operating profit Net profit |
'000 € | No. of customers in Coop Pank, '000 |