Coop Pank’s financial results in
- In August, number of the bank's clients increased by 3000 and number of active clients increased by 300. By the end of the month number of clients reached 136,100 and number of active clients reached 59,800. Over the year, customer base has grown by 30%.
- Volume of the bank's customer deposits decreased by
12 million euros , reaching1.28 billion euros by the end of month. Deposits of corporate customers decreased by 19 million and deposits of private customers remained stable. The volume of deposits attracted from international platforms increased by7 million euros . Over the year, volume of bank deposits has grown by 39%. - The bank's loan portfolio increased by
20 million euros over the month and reached1.18 billion euros by the end of month. Home loans increased by11 million euros , business loans increased by4 million euros , leasing by3 million euros and consumer financing by2 million euros . Over the year, loan portfolio has grown by 41%. - Compared to the first eight months of last year, the bank's net income has increased by 33% and expenses by 22% during the same period this year.
- In August, the bank earned net profit of
2 million euros . In the eight months of the year, the bank earned a net profit of12 million euros , that is 44% more than in the same period last year. - In August,
Coop Pank's return on equity was 19.7% and the cost-income ratio was 47.1%.
Comment by
"In August,
Demand for loans remains at a good level both in the market and in us, while the volumes of deposits show a slight downtrend. In this situation, the winners are the depositors.
Besides loans and deposits, our main goal is to provide convenient everyday banking services. Thanks to our wide customer office network and the cash network created through Coop stores, we can do this close to people's homes. Our consistently strong financial results confirm that this strategy is working well."
Coop Pank’s financial reports are available at: https://www.cooppank.ee/en/financial-reports
Additional information:
CFO
Phone: +372 5160 231
E-mail: paavo.truu@cooppank.ee
Attachment
Coop Pank 2022-08_EN
© OMX, source