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Coop Pank Earnings Release 2022
2213_iss_2022-11-11_866b1ef2-fb92-47bf-980a-c54346544e8b.pdf
Earnings Release
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Coop Pank Group Unaudited financial results for October 2022
https://www.cooppank.ee/en/investor
Oct: Highest profit and growing efficiency
| Monthly profit | Loans and deposits | No. of customers in Coop Pank* | |||
|---|---|---|---|---|---|
- Y-o-Y growth of net operating income was +36%, expenses +22% and profit +42%
- In October bank earned highest monthly profit 2,4 m€
- YTD ROE was 16,6% and cost-income ratio 51%; last months' ROE was 22,3% and CIR 46%.
- Quality of loan portfolio remains very high.
- Interest rates continue to grow in loans and deposits.
- Net loan portfolio increased by 29 m€ M-o-M. Business loans +14 m€, home loans by more than +9 m€, leasing +4 m€ and consumer loans more than +1 m€. Portfolio has increased by 42% Y-o-Y.
- Deposits increased by 39 m€ M-o-M. Deposits from business clients increased by +17 m€, deposits from private clients increased by +1 m€. Volume of foreign deposits increased by +21 m€. Y-o-Y growth of deposits was +32%.
- Coop Pank customer base grew by 2 800 to 141 600 clients.
* Coop Pank customer – a customer holding at least one opened bank account
| Month | Year-to-Date | |||||
|---|---|---|---|---|---|---|
| Coop Pank Group |
10.22 | 09.22 | 10.22 | 10.21 | Difference YoY |
|
| Net operating income ('000 €) |
5 277 |
4 796 |
43 374 |
954 31 |
+11 420 |
+36% |
| Interest | 4 899 |
4 386 |
39 844 |
28 884 |
+10 960 |
+38% |
| Service fee and commissions |
334 | 355 | 3 011 |
2 452 |
+559 | +23% |
| Other | 44 | 56 | 519 | 618 | -99 | -16% |
| Operating expenses |
2 453 |
2 394 |
22 191 |
18 204 |
+3 987 |
+22% |
| Payroll expenses |
1 318 |
1 322 |
12 604 |
10 358 |
+2 246 |
+22% |
| Other expenses |
1 134 |
1 072 |
9 587 |
846 7 |
+1 741 |
+22% |
| Operating profit |
2 824 |
2 402 |
21 183 |
13 750 |
433 +7 |
+54% |
| Financial impairement losses assets |
225 | 396 | 3 572 |
1 634 |
+1 938 |
+119% |
| Profit before income tax |
2 599 |
2 006 |
17 611 |
12 116 |
+5 495 |
+45% |
| Income tax |
242 | 160 | 1 419 |
694 | +724 | |
| profit Net |
2 357 |
1 846 |
16 192 |
11 422 |
+4 771 |
+42% |
| on equity (ROE) Return |
22,3% | 18,4% | 16,6% | 13,3% | +3,3pp | |
| Cost / income ratio (CIR) |
46% | 50% | 51% | 57% | -5,8pp | |
| interest margin (NIM) Net |
3,7% | 3,6% | 3,4% | 3,4% | +0,0pp | |
| Cost of financing |
0,8% | 0,7% | 0,6% | 0,7% | -0,1pp | |
| of in Coop ('000) No. Pank customers |
141,6 | 138,8 | 141,6 | 110,0 | +31,6 | +29% |
| Net loan portfolio (m€) |
1237,6 | 1208,5 | 1237,6 | 869,4 | +368,2 | +42% |
| Deposits received and loans |
1393,4 | 1354,3 | 1393,4 | 1052,1 | +341,3 | +32% |
| Equity | 124,5 | 122,8 | 124,5 | 109,7 | +14,9 | +14% |
