Coop Pank — Earnings Release 2022

Mar 11, 2022

Coop Pank Group Unaudited financial results for February 2022

11.03.2022

https://www.cooppank.ee/en/investor

February: short month, strong growth continued

• Net profit for the month was 1 282 thousand €. Y-o-Y growth of net income was +29%, expenses +22% and profit +46%
• The bank is well capitalized. Return-on-equity in January was 14.7%
• Net loan portfolio increased by more than 27 m€ M-o-M. Home loans +8.5 m€, business loans +15.9 m€, leasing +2.0 m€ and consumer loans +1.0 m€. Portfolio has increased by 45% Y-o-Y
• Deposits increased by 30 m€ M-o-M. Deposits from business clients +39 m€ and deposits from private clients +4 m€. Volume of foreign deposits decreased -13m€. Y-o-Y growth +45%
• Coop Pank customer base grew by 2 100 to 119 700 clients

* Coop Pank customer – a customer holding at least one opened bank account

Coop Pank Group	Month		Year-to-Date
	02.22	01.22	02.22	02.21	Difference YoY
('000 €) Net operating income	3 552	3 829	381 7	5 726	+1 655	+29%
Interest	3 275	3 532	6 807	5 236	+1 571	+30%
Service fee and commissions	255	265	520	395	+125	+32%
Other	21	32	53	95	-41	-44%
Operating expenses	2 069	2 023	4 092	3 362	+729	+22%
Payroll expenses	1 152	1 166	2 317	1 949	+368	+19%
Other expenses	917	857	1 774	1 413	+361	+26%
Operating profit	1 483	1 807	3 290	2 364	+926	+39%
Financial impairement losses assets	99	178	277	353	-76	-22%
Profit before income tax	1 384	1 629	3 013	2 011	+1 002	+50%
Income tax	102	142	244	110	+134
Net profit	1 282	1 487	2 769	1 901	+868	+46%
(ROE) Return on equity	14,7%	15,6%	15,1%	11,9%	+3,2pp
Cost / (CIR) income ratio	58%	53%	55%	59%	-3,3pp
Net interest margin (NIM)	3,4%	3,4%	3,3%	3,7%	-0,3pp
Cost of financing	0,5%	0,6%	0,5%	0,8%	-0,2pp
of in Coop ('000) No. Pank customers	119,7	117,6	119,7	90,9	+28,8	+32%
Net loan portfolio (m€)	996,9	969,7	996,9	685,7	+311,2	+45%
Deposits and loans received	1155,8	1125,5	1155,8	798,8	+357,0	+45%
Equity	114,5	113,2	114,5	99,5	+15,0	+15%