Coop Pank — Interim / Quarterly Report 2023

Feb 13, 2023

Coop Pank Group Unaudited financial results for January 2023

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

January: Demand for new loans is decreasing

Monthly profit	Loans and deposits			No. of customers in Coop Pank*

• In January net operating income 6.3 m€ and net profit 2.9 m€ were best monthly results. Net profit growth was +96% compared to January 2022.
• Monthly ROE was 22.6% and cost-income ratio 38%.
• Quality of loan portfolio remains high.
• Interest rates are rising on loans side and on deposits side as well.
• Net loan portfolio increased by 11 m€ M-o-M. Home loans increased by +7 m€, business loans +2 m€, leasing +1 m€ and consumer loans almost +1 m€. In total portfolio has increased by 35% Y-o-Y.
• Deposits increased by 12 m€ M-o-M. Deposits from business clients decreased by -15 m€, deposits from private clients increased by +5 m€. Volume of foreign deposits increased by +22 m€. Y-o-Y growth of deposits was +35%.
• 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

Pank	Month		Year-to-Date
Coop Group	01.23	12.22	01.23	01.22	Difference YoY
Net operating income ('000 €)	6 276	5 693	6 276	3 829	+2 446	+64%
Interest	916 5	701 5	916 5	3 532	+2 384	+68%
Service fee and commissions	310	407	310	265	+45	+17%
Other	49	-415	49	32	+17	+53%
Operating expenses	2 386	605 2	2 386	2 023	+363	+18%
Payroll expenses	1 427	1 534	1 427	1 166	+261	+22%
Other expenses	959	1 070	959	857	+102	+12%
Operating profit	3 890	3 088	3 890	1 807	+2 083	+115%
Financial impairement losses assets	651	885	651	178	+474	+267%
Profit before income tax	3 238	2 203	3 238	1 629	+1 609	+99%
Income tax	330	176	330	142	+188
Net profit	2 909	2 027	2 909	1 487	+1 421	+96%
on equity (ROE) Return	22,6%	17,2%	22,6%	15,6%	+7,0pp
Cost / income ratio (CIR)	38%	46%	38%	53%	-14,8pp
Net interest margin (NIM)	4,1%	4,0%	4,1%	3,4%	+0,7pp
Cost of financing	1,3%	1,1%	1,3%	0,6%	+0,7pp
Coop ('000) No. of in Pank customers	149,8	147,0	149,8	117,6	+32,3	+27%
Net loan portfolio (m€)	1311,3	1300,8	1311,3	969,7	+341,6	+35%
Deposits and loans received	1520,5	1508,1	1520,5	1125,5	+395,0	+35%
Equity	152,1	149,1	152,1	113,2	+38,9	+34%