Coop Pank's financial results in February 2026:
- In February, number of the bank's clients increased by 1,400 and number of active clients increased by 1000. By the end of the month number of clients reached 229,800 and number of active clients reached 108,800. Over the year, customer base has grown by 9%.
- Volume of the bank's customer deposits increased by 55 million euros, reaching 2.13 billion euros by the end of month. Deposits of corporate customers increased by 11 million and deposits of private customers increased by 5 million euros. The volume of deposits attracted from international platforms increased by 39 million euros. Over the year, volume of bank deposits increased by 11%.
- The bank's loan portfolio increased by 6 million euros over the month and reached 2.13 billion euros by the end of February. Home loans portfolio increased by 5 million euros, corporate loans portfolio increased by 4 million euros, consumer financing portfolio remained stable and leasing portfolio decreased by 3 million euros. Over the year, loan portfolio increased by 19%.
- In February, the loan impairment cost was 0.3 million euros.
- Compared to the first two of last year, the bank's net income has increased by 8% and expenses have increased by 13% during the same period this year.
- The bank earned net profit of 2.9 million euros in February, which is 16% more than in the same period last year.
- In February, Coop Pank's return on equity was 16.0% and the cost-income ratio was 56%.
Comment by Arko Kurtmann, Chairman of the Management Board of Coop Pank:
"In February, the quality of the bank's loan portfolio remained strong and loan loss provisions remained low, while part of the previously made provisions was released.
Low loan loss provisions, low income tax expenses and overall growth in business volumes resulted in a solid net profit for the bank of 2.9 million euros in February, an increase of 16% compared with the same period last year. Coop Pank's return on equity in February was 16.0% and the cost-to-income ratio was 56%.
In February, the updated joint loyalty programme of Coop Pank and Coop was launched: starting from March, nearly 700,000 Säästukaart and Säästukaart Pluss users will be able to apply for the new Coop Pluss credit card, which offers an interest-free period of up to 70 days and a credit limit of up to 2,000 euros.
At the end of the month, the bank raised 5.0 million euros in subordinated debt from the European Energy Efficiency Fund, which qualifies as Tier 2 capital and strengthens the bank's capital position.
In February, the Supervisory Board of Coop Pank also approved a new subordinated bond programme, under which preparations for the issuance are currently underway. The public offering of the first series of bonds under the programme is planned to take place in March or April of this year."
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 229,800. 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 strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores.
Additional information:
Paavo Truu
CFO
Phone: +372 5160 231
E-mail: paavo.truu@cooppank.ee
