Published: 2020-03-11 07:00:00 CET
Coop Pank
Company Announcement

Coop Pank results for February 2020

Coop Pank’s financial results in February 2020:

  • The bank’s customer base increased by 2,100, reaching 67,800 by the end of the month.
  • In the same period, the bank’s loan portfolio increased by EUR 13 million, having reached EUR 489 million. Business loans and mortgages portfolio showed the highest growth.
  • The amount of deposits in Coop Pank reached EUR 519 million by the end of February, increased by EUR 21 million.
  • The bank earned a net profit of EUR 530 thousand in February.

Commentary by Margus Rink, Chairman of the Management Board of Coop Pank: „In the first two months of the year, we have continued to show strong growth, with revenue up 39% year on year, costs up 26% and net profit 43%. We are also pleased with the increase of customer base and, consequently the increase in demand deposits that allows to reduce financing costs in the future.”

More detailed quarterly 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 67,800. 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 main shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 340 stores. 

Additional information:
Kerli Lõhmus
CFO
Phone: +372 669 0902
E-mail: kerli.lohmus@cooppank.ee

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Coop Pank 2020-02_EN.pdf