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Coop Pank Earnings Release 2023
2213_ir_2023-04-20_6de4f14d-a077-4bd2-a4ea-7b1a12b89f42.pdf
Earnings Release
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Coop Pank Group Unaudited financial results for March 2023
20.04.2023
March: Moderate growth and strong profit
Key indicators compared to last month and year
- In March net operating income and net profit were highest in history at the level 7.3 m€ and 3.6 m€ respectively.
- Monthly ROE was 26.5% and cost-income ratio 35%.
- Quality of loan portfolio remains high but significant additional loan provisions were made in order to prepare for potential credit losses in the future.
- Interest rates are rising on loan side and on deposit side as well.
- Net loan portfolio increased by 24 m€ M-o-M. Home loans increased by +11 m€, business loans +7 m€, leasing +4 m€ and consumer loans +2 m€. In total portfolio has increased by 29% Y-o-Y.
- Deposits increased by 3 m€ M-o-M. Deposits from business clients increased by +5 m€, deposits from private clients increased by +16 m€. Volume of foreign deposits decreased by - 18 m€. Y-o-Y growth of deposits was +32%.
- Coop Pank customer base grew by 3 100, number of active clients grew by 2 100 clients.
| Coop Pank Group |
Month | Year-to-Date | ||||
|---|---|---|---|---|---|---|
| 03.23 | 02.23 | 03.23 | 03.22 | Difference YoY |
||
| ('000 €) Net operating income |
315 7 |
6 071 |
19 661 |
11 492 |
+8 170 |
+71% |
| Interest | 6 802 |
5 654 |
18 372 |
10 595 |
+7 777 |
+73% |
| Service fee and commissions |
381 | 337 | 1 028 |
795 | +233 | +29% |
| Other | 132 | 80 | 261 | 102 | +160 | +157% |
| Operating expenses |
582 2 |
2 627 |
595 7 |
6 198 |
+1 397 |
+23% |
| Payroll expenses |
1 513 |
1 601 |
4 542 |
3 449 |
+1 093 |
+32% |
| Other expenses |
1 069 |
1 026 |
3 054 |
2 749 |
+305 | +11% |
| Operating profit |
4 732 |
3 444 |
12 066 |
5 293 |
+6 772 |
+128% |
| Financial impairement losses assets |
756 | 220 | 1 627 |
1 494 |
+133 | +9% |
| Profit before income tax |
3 976 |
3 224 |
10 439 |
3 800 |
+6 639 |
+175% |
| Income tax |
421 | 312 | 1 063 |
299 | +764 | |
| profit Net |
3 555 |
2 912 |
9 375 |
3 500 |
+5 875 |
+168% |
| Return | 26.5% | 24.6% | 24.6% | 12.5% | ||
| (ROE) on equity Cost / income ratio |
35% | 43% | 39% | 54% | +12.1pp | |
| (CIR) | -15.3pp | |||||
| Net interest margin (NIM) |
4.7% | 4.3% | 4.4% | 3.4% | +0.9pp | |
| Cost of financing |
1.5% | 1.4% | 1.4% | 0.6% | +0.9pp | |
| Coop ('000) No. of in Pank customers |
155.2 | 152.2 | 155.2 | 122.4 | +32.8 | +27% |
| Active customers |
70.1 | 68.0 | 70.1 | 54.2 | +15.9 | +29% |
| portfolio (m€) Net loan |
1 347 |
1 323 |
1 347 |
1 040 |
+306.6 | +29% |
| Deposits and loans received |
1 513 |
1 510 |
1 513 |
1 149 |
+364.1 | +32% |
| Equity | 159 | 155 | 159 | 115 | +43.3 | +38% |
Ärimahud kvartalite lõikes
* Coop Pank customer – a customer holding at least one opened bank account.
Monthly profit
Active customer – Coop Pank customer who has made at least 4 transactions in 60 days
