Coop Pank's financial results in July 2026:
- In July, the number of the bank's clients increased by 1,400 and the number of active clients increased by 200. By the end of the month, the number of clients reached 237,600 and the number of active clients reached 112,200. Over the year, the customer base has grown by 8%.
- The volume of the bank's customer deposits increased by 42 million euros in July, reaching 2.54 billion euros by the end of the month. Deposits from corporate customers increased by 50 million euros and deposits from private customers increased by 9 million euros. The volume of deposits attracted from international platforms decreased by 17 million euros. Over the year, the volume of the bank's deposits increased by 16%.
- The bank's loan portfolio increased by 19 million euros over the month and reached 2.25 billion euros by the end of July. The home loan portfolio increased by 12 million euros, the corporate loan portfolio by 4 million euros, the leasing portfolio by 1 million euros, and the consumer finance portfolio by 2 million euros. Over the year, the bank's loan portfolio has increased by 15%.
- In July, the loan impairment cost was 56,000 euros.
- Compared with the first seven months of last year, the bank's net income increased by 13% and expenses increased by 14% during the same period this year.
- The bank earned a net profit of 3 million euros in July. During the first seven months of the year, the bank generated a net profit of 19.6 million euros, representing an increase of 15% compared with the same period last year.
- In July, Coop Pank's return on equity was 14.5% and the cost-income ratio was 53%.
Comment by Paavo Truu, CFO of Coop Pank:
"Coop Pank's business volumes and profit have grown consistently this year. The same trend continued in July, when we earned a net profit of €3 million. The Bank's total profit for the first seven months of the year is 15% higher than in the same period last year.
Along with the growth in business volumes, Coop Pank's contribution to the Estonian economy is increasing. After a prolonged period of weakness, the Estonian economy is showing signs of improvement again this summer, also in the macroeconomic indicators. In June, Coop Pank's capital position strengthened as a result of the securitisation agreements concluded with the European Investment Bank Group (EIB Group), which released capital to support additional lending growth. This increases our capacity to issue new loans at a time when demand for financing is growing alongside the economic recovery.
In cooperation with the EIB Group, we also launched two new loan products. The Loan for Female Entrepreneurs is intended for businesses led or owned by women, while the Energy Efficiency Loan helps finance environmental and energy-efficiency projects. Thanks to the support of the EIB Group, we are able to offer both loans on more favourable terms than usual."
Monthly and 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 237,600. 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
