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Coop Pank Earnings Release 2025
2213_rns_2026-02-12_9e9a2d0f-dc81-41b5-b64d-0e5060f28c7c.pdf
Earnings Release
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Coop Pank Group 2025 Q4 and yearly unaudited results
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Key notes from year 2025
- Economic environment turned to growth (GDP growth approx. +0.7%, export +7%)
- Loan and leasing portfolio in Estonia (individuals and companies combined) grew by 8%, +2.2 billion euros
- Interest environment has stabilized, 6-month Euribor 2.6% at the beginning of the year, approx. 2.1% – 2.15% since May
- Coop Pank's loan portfolio grew by 340 m€, +19%, or 2x faster than the market, crossing the 2-billion-mark
- Quality of loan portfolio remains very good and is better than market average
- Issue of covered bonds in the amount of 250 m€ to European institutional investors
- Systemically important credit institution since 01/01/25
- Moody's confirmed the rating Baa2 with a positive outlook
- Cooperation with Coop stores: new packages and a cashback offer for joint customers
- The state opened its accounts at Coop Pank: making transfers even more convenient, faster and safer for both the bank's customers and the state
- Recognitions: according to the Kantar Emor survey, the most recommended bank in Estonia and the TOP10 most reputable employer; KELL gold label for Responsible Entrepreneurship, Family-Friendly Employer gold label and Supporter of National Defense gold label; Coop Bank's app is among the 10 most customer-friendly mobile applications among Estonian companies
- Changes in management: new members of the board and management
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Business volumes in quarterly comparison
Increase calculations refer to active customers. Active client has made at least 4 transactions in the last 60 days
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Results of Q4 2025 – compared to Q3 2025
Key indicators in quarterly comparison
| Net operating income ('000 €) | Q4 2025 20 958 |
Q3 2025 19 542 |
Quarterly change | |
|---|---|---|---|---|
| +1 416 | +7% | |||
| Interest | 19 038 | 18 299 | +739 | +4% |
| incl interest income | 31 668 | 31 359 | +309 | +1% |
| incl interest expense | -12 630 | -13 060 | +430 | -3% |
| Service fees and commissions | 1 123 | 1 100 | +23 | +2% |
| Other | 797 | 143 | +654 | +457% |
| Operating expenses | -11 422 | -10 459 | -963 | +9% |
| Operating profit | 9 536 | 9 083 | +453 | +5% |
| Impairment costs | -1 041 | -664 | -377 | +57% |
| Profit before income tax | 8 495 | 8 420 | +76 | +1% |
| Income tax | -1 305 | -1 448 | +143 | -10% |
| Net profit | 7 190 | 6 971 | +219 | +3% |
| Net Ioan portfolio (m€) | 2 114 | 2 023 | +91 | +4% |
| Deposits and loans received | 2 047 | 1 913 | +134 | +7% |
| Equity | 235 | 227 | +7 | +3% |
| ROE | 12,5% | 12,5% | -0,0% | |
| Net interest margin (NIM) | 2,9% | 3,0% | -0,1% | |
| Cost of financing | 2,1% | 2,3% | -0,2% |
- Loan portfolio increased +€91 m€ (+4%)
- Net interest income increased +0,7 m€
- Interest income increased 0,3 m€, including +1,2 m€ due to business volume growth and decrease in margins -0,9 m€.
- Interest expenses decreased by 0.4 m€ incl. -1.5 m€ due to the decrease in interest rates; increase in deposit volume increased the expenses 1.1 m.
- Operating expenses in Q4 11.4 m€ (+1.0 m€, +9%)
- Cost of impairment of financial assets 1.0 m€ (+0.4 m€)
- Loan portfolio quality remains good
- Net profit 7.2 m€ (+0.2 m€, +3%)
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Business volumes in yearly comparison
Change calculations refer to active customers. Active client has made at least 4 transactions in the last 60 days
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Results of 2025 – compared to 2025
Key indicators in year on year comparison
| ('000 €) Net operating income |
2025 | 2024 81 883 |
Change | |
|---|---|---|---|---|
| 79 355 |
-2 528 |
-3% | ||
| Interest | 73 269 |
570 77 |
301 -4 |
-6% |
| incl interest income |
126 344 |
138 695 |
-12 350 |
-9% |
| incl interest expense |
-53 075 |
-61 125 |
+8 050 |
-13% |
| Service fees and commissions |
4 545 |
4 358 |
+187 | +4% |
| Other | 1 542 |
-45 | +1 587 |
-3527% |
| Operating expenses |
-41 491 |
-40 576 |
-915 | +2% |
| Operating profit |
37 865 |
41 307 |
-3 442 |
-8% |
| Impairment costs |
-3 299 |
-4 643 |
+1 344 |
-29% |
| Profit before income tax |
34 566 |
36 664 |
-2 098 |
-6% |
| Income tax |
842 -5 |
-4 486 |
-1 356 |
+30% |
| profit Net |
28 724 |
32 178 |
-3 454 |
-11% |
| Net loan portfolio (m€) |
2 114 |
1 774 |
+340 | +19% |
| Deposits and loans received |
2 047 |
1 878 |
+170 | +9% |
| Equity | 235 | 212 | +23 | +11% |
| ROE | 9% 12 , |
2% 16 , |
3% -3 , |
|
| (NIM) Net interest margin |
0% 3 , |
8% 3 , |
8% -0 , |
|
| Cost of financing |
2 4% , |
3 3% , |
-0 9% , |
- Net income -2.5 m€ (-3%)
- Interest income -12.4 m€ incl. business volume growth impact +24.3 m€; interest rate impact -31.5 m€; other impacts -5.1 m€.
- Interest expenses decreased by 8.0 m€ including interest rate impact of 13.4 m€; volume growth added 5.4 m€
- Operating expenses +0.9 m€ (+2%)
- Payroll expenses
- IT expenses
- Financial assets of high quality
- Impairment costs decreased by -1.3 m€ (-29%)
- At the same time the loan portfolio grew by +19%
- Net profit decreased by -3.5 m€ (-11%)
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Loan portfolio continues to grow
- Annual growth of loan portfolio +340 m€ (+19%)
- Business loans +207 m€ (+27%)
- Private mortgage loans +125 m€ (+17%)
- Consumer loans +6 m€ (+5%)
- Leasing +3 m€ (+2%)
- The decline in Euribor has stopped in the second half of 2025 and has turned to a slight increase, 2025 average 6-month Euribor 2.21% (2024 3.49%)
- The change in Euribor will have an impact with a delay of up to 6 months.
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Loan portfolio interest by business lines
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Quality of loan portfolio
- Past due portfolio remains at a low 1.8%
- Credit risk cost ratio 0.2% in 2025
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Loan portfolio quality by business lines
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Cost of financing is decreasing
- Total volume of deposits and other financial instruments increased by 494 m€ (+26%) in 2025
- Deposits from private clients +41 m€ (+11 m€ demand deposits, +40 m€ term deposits)
- Deposits from business clients +81 m€ (+64 m€ demand deposits, +17 m€ term deposits)
- Deposits from platforms +47 m€
- Other financial instruments +69 m€
- Covered bonds +255 m€
- The cost of financing turned to decline
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Client base and market share
- Total no of clients increased by 19 000 (+9%) (+26 000 in 2024)
- 8 900 new active clients in 2025 (+9%) (+17 400 in 2024)
- Bank's market share changed in 2025*
- Market share of loan portfolio 6.5% => 7.1%
- Market share of deposits portfolio 6.0% => 6.1%
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Capital base supports growth plans
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Liquidity
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Performance indicators
- CIR 52%
- Net income 79.4 m€, -2.5 m€ (-3%)
- Operating expenses 41.5 m€, +0.9 m€ (+2%)
- ROE 12.9%
- Growth in business volumes increases efficiency (operating expenses / loan portfolio)
- Net interest margins declining -> negative impact on CIR
- Portfolio quality has remained good
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Brand awareness and preference as a financial partner
Source: reports of Initiative brand study
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Share price
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Summary: 2025 results
- Loan portfolio growth (+19% YoY)
- Growth of active customers (+9% YoY)
- Net profit 28.7 mln € (-11% YoY)
- CIR 52% (2024: 50%)
- ROE 12.9% (2024: 16.2%)
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Target: increasing return on equity
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Target: Growth of net profit
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Target: Increasing market share
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Arko Kurtmann
Chairman of Board, CEO [email protected]
Paavo Truu
Member of Board, CFO [email protected]
https://www.cooppank.ee/en/for-investors