Annual Financial Report
Coop Pank 2019 audited Annual Report
Management Board of Coop Pank has compiled 2019 audited Annual Report. There are no differences in the audited accounts as regards the financial results, compared to the unaudited financial results published on February 11, 2020.
The consolidated annual report 2019 of Coop Pank AS has been enclosed to the announcement and will be made available on the banks homepage https://www.cooppank.ee/en/financial-reports
Annual report will be presented for approval to general meeting of shareholders.
Coop Pank increased its business volumes by 40% for the third consecutive year. Banking group’s loan portfolio reached EUR 460 million in 2019 having increased by EUR 131 million or 40% over the year. As at the end of 2019, Coop Pank's deposits totalled EUR 507 million, having increased by EUR 122 million or 32% over the year. In 2019, the profit of Coop Pank reached EUR 5.5 million, having grown by 16% over the year. The bank's return on equity was at 10% and the cost-to-income ratio remained at 69%
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 is 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.
Phone: +372 669 0902