Coop Pank AS results for February 2025

Coop Pank's financial results in February 2025: In February, number of the bank's clients increased by 1,500 and number of active clients increased also by 1,500. By the end of the month number of clients reached 211,000 and number of active clients reached 100,200. Over the year, customer base has grown by 13%.  Volume of the bank's customer deposits increased by 3 million euros, reaching 1.93 billion euros by the end of month. Deposits of corporate customers increased by 15 million euros...

Tallinn, 12/03/2025 (informazione.it - comunicati stampa - economia)

Coop Pank's financial results in February 2025:

Comment by Paavo Truu, Member of the Management Board and CFO of Coop Pank:

"In February, the shortest month of the year, Coop Pank achieved solid business growth and strong profitability.

Thanks to the increasing number of customers and actively transacting clients, the bank also grew its domestic deposit volume, allowing it to reduce reliance on deposits from international platforms. As term deposit interest rates are rapidly declining, private customers are showing growing interest in savings deposits. To meet this demand, Coop Pank offers the increasingly popular Rahasahtel savings account with a 2% interest rate and the Lastehoius children's savings account with a 3.1% interest rate.

The bank's loan portfolio also saw solid growth in February. While demand for leasing and consumer loans was modest at the beginning of the year, as expected, the declining Euribor has increased interest in business and home loans.

In line with Coop Pank's values and its commitment to supporting the development and well-being of Estonian society, in February, celebration of Estonia's Independence Day, we introduced a special mortgage offer for police officers, rescue workers, and military personnel. Additionally, we gave customers the option to stop using physical bank cards and switch entirely to virtual cards. With this, Coop Pank became the second bank in Estonia to offer a more convenient and secure digital payment solution.

Coop Pank continues on a steady growth path – over the past year, the bank's customer base has grown by 13%, deposits by 12%, and the loan portfolio by 18%."

More detailed financial 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 211,000. 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

 

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