Coop Pank — Earnings Release 2025

Mar 12, 2025

Correction announcement: Coop Pank AS results for February 2025

Coop Pank's financial results in February 2025:

* In February, number of the bank's clients increased by 1,500 and number of
active clients increased also by 1,500. By the end of the month number of
clients reached 211,000 and number of active clients reached 100,200. Over
the year, customer base has grown by 13%.
* Volume of the bank's customer deposits increased by 3 million euros,
reaching 1.93 billion euros by the end of month. Deposits of corporate
customers increased by 15 million euros and deposits of private customers
increased by 5 million euros. The volume of deposits attracted from
international platforms decreased by 17 million euros. Over the year, volume
of bank deposits has grown by 12%.
* The bank's loan portfolio increased by 15 million euros and reached 1.79
billion euros by the end of month. Business loans increased by 8 million
euros and home loans increased by 7 million euros. Leasing and consumer
financing portfolios remained stable. Over the year, loan portfolio has
grown by 18%.
* In February, the loan impairment cost was 0.1 million euros.
* Compared to the first two months of last year, the bank's net income
decreased by 6% and expenses have increased by 1%.
* In February, the bank earned net profit of 2.3 million euros. In the first
two months of the year, the bank has earned a net profit of 5.0 million
euros, that is 11% less than in the same period last year.
* In February, Coop Pank's return on equity was 13.7% and the cost-income
ratio was 52%.

Comment by Paavo Truu, Member of the Management Board and CFO of Coop Pank:

"In February, the shortest month of the year, Coop Pank achieved solid business
growth and strong profitability.

Thanks to the increasing number of customers and actively transacting clients,
the bank also grew its domestic deposit volume, allowing it to reduce reliance
on deposits from international platforms. As term deposit interest rates are
rapidly declining, private customers are showing growing interest in savings
deposits. To meet this demand, Coop Pank offers the increasingly popular
Rahasahtel savings account with a 2% interest rate and the Lastehoius children's
savings account with a 3.1% interest rate.

The bank's loan portfolio also saw solid growth in February. While demand for
leasing and consumer loans was modest at the beginning of the year, as expected,
the declining Euribor has increased interest in business and home loans.

In line with Coop Pank's values and its commitment to supporting the development
and well-being of Estonian society, in February, celebration of Estonia's
Independence Day, we introduced a special mortgage offer for police officers,
rescue workers, and military personnel. Additionally, we gave customers the
option to stop using physical bank cards and switch entirely to virtual cards.
With this, Coop Pank became the second bank in Estonia to offer a more
convenient and secure digital payment solution.

Coop Pank continues on a steady growth path - over the past year, the bank's
customer base has grown by 13%, deposits by 12%, and the loan portfolio by 18%."

More detailed financial reports of Coop Pank are available at:
https://www.cooppank.ee/en/financial-reports

Coop Pank, based on Estonian capital, is one of the five universal banks
operating in Estonia. The number of clients using Coop Pank for their daily
banking reached 211,000. Coop Pank aims to put the synergy generated by the
interaction of retail business and banking to good use and to bring everyday
banking services closer to people's homes. The strategic shareholder of the bank
is the domestic retail chain Coop Eesti, comprising of 320 stores.

Additional information:
Paavo Truu
CFO
Phone: +372 5160 231
E-mail: [email protected] (mailto:[email protected])