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Coop Pank Earnings Release 2021
2213_iss_2021-12-10_6c5e78e5-3dcf-4365-a0c3-62efdd422b40.pdf
Earnings Release
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Coop Pank Group Unaudited financial results for November 2021
[email protected] https://www.cooppank.ee/en/investor
November: strong growth of loan portfolio
- Net profit for the month was 1 040 thousand euros. Year-to-date net income was +27%, expenses +21% and profit +100% comparing to 2020.
- The bank is well capitalized. Year-to-date return-on-equity is 13%.
- Loan portfolio increased by 45 mln euros, including business loans by 33 mln euros, home loans by 9 mln euros, leasing by 2 mln euros and consumer loans by 1 mln euros. Portfolio has increased by 42% Y-o-Y.
- Total deposits increased by 9 mln euros. Deposits from business clients grew by 10 mln euros and deposits from private clients grew by 5 mln euros. Volume of foreign deposits decreased by 6 mln euros. Yearly growth +42%.
- Coop Pank customer base grew by 2 400 to 112 400.
* Coop Pank customer – a customer holding at least one opened bank account
| Coop Pank Group |
Month | Year-to-Date | ||||
|---|---|---|---|---|---|---|
| 11.21 | 10.21 | 11.21 | 11.20 | Difference | YoY | |
| ('000 €) Net operating income |
3 659 |
3 392 |
35 612 |
28 142 |
470 +7 |
+27% |
| Interest | 3 225 |
3 171 |
32 109 |
25 659 |
+6 449 |
+25% |
| Service fee and commissions |
377 | 269 | 2 829 |
1 952 |
+877 | +45% |
| Other | 57 | -47 | 674 | 531 | +144 | +27% |
| Operating expenses |
2 140 |
1 957 |
20 344 |
16 821 |
+3 523 |
+21% |
| Payroll expenses |
1 057 |
1 050 |
11 415 |
9 967 |
+1 448 |
+15% |
| Other expenses |
1 082 |
907 | 8 929 |
6 853 |
+2 075 |
+30% |
| profit Operating |
1 519 |
1 436 |
15 268 |
11 322 |
+3 947 |
+35% |
| Financial assets impairement losses |
409 | 100 | 2 043 |
4 881 |
-2 838 |
-58% |
| Profit before income tax |
1 109 |
1 336 |
225 13 |
6 441 |
785 +6 |
+105% |
| Income tax |
69 | 83 | 764 | 208 | +556 | |
| profit Net |
1 040 |
1 254 |
12 462 |
6 233 |
+6 229 |
+100% |
| Return on equity (ROE) |
11,5% | 13,5% | 13,1% | 7,4% | +5,8pp | |
| Cost / income ratio (CIR) |
58% | 58% | 57% | 60% | -2,6pp | |
| interest margin (NIM) Net |
3,3% | 3,3% | 3,4% | 3,9% | -0,5pp | |
| Cost of financing |
0,6% | 0,7% | 0,7% | 0,9% | -0,2pp | |
| Coop No. of in Pank ('000) customers |
112,4 | 110,0 | 112,4 | 84,1 | +28,3 | +34% |
| Net loan portfolio (m€) |
914,3 | 869,4 | 914,3 | 644,7 | +269,6 | +42% |
| Deposits and loans received |
1060,6 | 1052,1 | 1060,6 | 746,3 | +314,3 | +42% |
| Equity | 110,7 | 109,7 | 110,7 | 96,5 | +14,2 | +15% |