Coop Pank — Earnings Release 2022

Feb 11, 2022

Coop Pank Group Unaudited financial results for January 2022

11.02.2022

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

January: continued growth in business volumes

• Net profit for the month was 1 487 thousand €. Y-o-Y growth of net income was +27%, expenses +23% and profit +39%
• The bank is well capitalized. Return-on-equity in January was 16%
• Net loan portfolio increased by 16m€ M-o-M. Home loans +9m€, business loans +5m€, leasing +3m€ and consumer loans +0.2m€. Portfolio has increased by 43% Y-o-Y
• Deposits increased by 27m€ M-o-M. Deposits from business clients +26m€ and deposits from private clients +5m€. Volume of foreign deposits decreased -4m€. Y-o-Y growth +46%
• Coop Pank customer base grew by 3000 to 117 600

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

Coop Pank Group	Month		Year-to-Date
	01.22	12.21	01.22	01.21	Difference YoY
('000 €) Net operating income	3 829	3 626	3 829	3 014	+816	+27%
Interest	3 532	3 429	3 532	2 737	+795	+29%
Service fee and commissions	265	256	265	228	+37	+16%
Other	32	-60	32	49	-17	-34%
Operating expenses	2 023	2 109	2 023	1 640	+383	+23%
Payroll expenses	1 166	1 075	1 166	967	+199	+21%
Other expenses	857	1 034	857	673	+184	+27%
Operating profit	1 807	1 517	1 807	1 374	+433	+31%
Financial impairement losses assets	178	454	178	216	-39	-18%
Profit before income tax	1 629	1 063	1 629	1 158	+471	+41%
Income tax	142	61	142	88	+54
Net profit	1 487	1 001	1 487	1 070	+417	+39%
on equity (ROE) Return	15.6%	10.6%	15.6%	12.8%	+2.7pp
Cost / (CIR) income ratio	53%	58%	53%	54%	-1.6pp
Net interest margin (NIM)	3.4%	3.4%	3.4%	3.7%	-0.4pp
Cost of financing	0.6%	0.6%	0.6%	0.8%	-0.2pp
of Coop ('000) No. in Pank customers	117.6	114.6	117.6	89.0	+28.6	+32%
portfolio (m€) Net loan	969.7	953.4	969.7	677.4	+292.3	+43%
Deposits and loans received	1125.5	1098.7	1125.5	773.5	+352.1	+46%
Equity	113.2	111.7	113.2	98.7	+14.6	+15%