Coop Pank — Earnings Release 2022

Feb 9, 2023

Coop Pank Group Unaudited financial results for December 2022

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

Dec: Strong final month of the record year

• In Dec net operating income 5.7 m€ was best monthly result and net profit also strong 1.9 m€. Net profit of the year was 20.4 m€ (+51% compared to 2021).
• YTD ROE was 16.8% and cost-income ratio 50%; last months' ROE was 16.2% and CIR 46%.
• Net profit of the month was influenced by additional provision in amount of 0.5 m€ related to real estate in Latvia.
• In December the issue of new shares in bank was successfully closed with 4.2 times oversubscription and 20.3 m€ additional capital raised.
• Net loan portfolio increased by 34 m€ M-o-M. Business loans +20 m€, home loans by almost +11 m€, consumer loans +2 m€ and leasing +1 m€. Portfolio has increased by 36% Y-o-Y.
• Deposits increased by 46 m€ M-o-M. Deposits from business clients increased by +18 m€, deposits from private clients increased by +10 m€. Volume of foreign deposits increased by +18 m€. Y-o-Y growth of deposits was +37%.
• Coop Pank customer base grew by 2 300, number of active clients grew by 1 200 clients.

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

Coop Pank Group	Month		Year-to-Date
	12.22	11.22	12.22	12.21	Difference YoY
Net operating income ('000 €)	5 693	5 564	54 631	39 238	+15 393	+39%
Interest	701 5	164 5	50 709	35 538	+15 171	+43%
Service fee and commissions	407	366	3 784	3 086	+699	+23%
Other	-415	34	138	615	-477	-78%
Operating expenses	2 605	2 382	27 177	22 453	+4 725	+21%
Payroll expenses	1 534	1 363	15 502	12 490	+3 011	+24%
Other expenses	1 070	1 018	11 676	9 962	+1 713	+17%
Operating profit	3 088	3 183	454 27	785 16	+10 668	+64%
Financial impairement losses assets	996	677	5 245	2 497	+2 748	+110%
Profit before income tax	2 092	2 506	22 209	14 288	+7 921	+55%
Income tax	176	264	1 859	825	+1 034
Net profit	1 916	2 242	350 20	13 463	+6 887	+51%
on equity (ROE) Return	16,2%	21,5%	16,8%	12,9%	+3,9pp
Cost / (CIR) income ratio	46%	43%	50%	57%	-7,5pp
(NIM) Net interest margin	4,0%	3,9%	3,5%	3,4%	+0,1pp
Cost of financing	1,1%	0,9%	0,7%	0,7%	-0,0pp
Coop No. of in Pank ('000) customers	147,0	144,7	147,0	114,6	+32,4	+28%
portfolio (m€) Net loan	1300,8	1267,0	1300,8	953,4	+347,4	+36%
Deposits and loans received	1508,1	1461,7	1508,1	1098,7	+409,4	+37%
Equity	149,2	127,2	149,2	111,7	+37,5	+34%