Coop Pank
Company Announcement

Additional comment on media information

Company announcement
12 December 2019

The information presented in today´s Postimees article about Timo Houses OÜ is not correct.

Coop Pank explains that the amount of Coop Pank loan presented in article does not correspond to reality.

The loan issued to Timo Houses OÜ is syndicated loan with 2 lenders and Coop Pank ´s participation in the syndicated loan does not correspond to the amount that was presented in article.

Due to banking secrecy, Coop Pank cannot comment on the specific details of the loan, but we can confirm that Coop Pank values the collateral position to be good and hence does not forecast any loan losses.

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. It has 15 branch offices and 24 banking points all over the country. The number of clients using Coop Pank for their daily banking has reached 61,900. 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 340 stores.

Kristjan Seema
Head of Marketing & Communication

Tel: +372 5505 253
e-mail: kristjan.seema@cooppank.ee
www.cooppank.ee