Coop Pank’s financial results in
- In January, number of the bank's clients increased by 2,400 and number of active clients decreased by 900. By the end of the month number of clients reached 184,900 and number of active clients reached 81,100. Over the year, customer base has grown by 23%.
- Volume of the bank's customer deposits increased by
21 million euros , reaching1.74 billion euros by the end of month. Deposits of corporate customers increased by 12 million and deposits of private customers increased by9 million euros . The volume of deposits attracted from international platforms remained stable. Over the year, volume of bank deposits increased by 15%. - The bank's loan portfolio increased by
22 million euros over the month and reached1.51 billion euros by the end of January. Corporate loans increased by17 million euros , home loans by3 million euros , leasing by3 million euros and consumer financing decreased1 million euros . Over the year, loan portfolio increased by 15%. - In January, the loan impairment cost was
0.6 million euros . - Compared to the first month of last year, the bank's net income has increased by 13% and expenses by 32% during the same period this year.
- The bank earned net profit of
3 million euros in January, that is 2% more than in the same period last year. - In January,
Coop Pank's return on equity was 18.7% and the cost-income ratio was 45%.
Comment by
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At the beginning of the year, we have seen a continuation of the downward trend of interest rates in money markets, this is a win for borrowers and a loss for depositors. As the era of high interest rates, which is led by the
In addition to corporate loans, the portfolio of home loans showed decent growth in January, which was influenced, among other things, by the offer of home loans intended to support teachers. Starting in January,
More detailed quarterly reports of
Additional information:
CFO
Phone: +372 5160 231
E-mail: paavo.truu@cooppank.ee
Attachment
Coop Pank 2023-01_EN
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