Teate vaade
Ettevõte Coop Pank AS
Tüüp Korraldatud teave
Kategooria Muud korporatiivtoimingud
Avaldamise aeg 27 sept 2022 16:45:00 +0300
Keel English
Pealkiri Comment regarding the observations of the Financial Supervision Authority to Coop Pank AS and Coop Finants AS
The Estonian Financial Supervision Authority has assessed the governance and
risk management principles of Coop Pank AS and Coop Finants AS, observed the
need to improve them and issued instructions on this matter on 26.09.2022.

The Financial Supervision Authority assessed Coop Pank's credit risk management,
governance, compliance function, operational risk management, IT risk
management, liquidity risk management and the key function holders suitability
assessment system. In case of Coop Finance AS, the internal rules, internal
control measures and the methodology for assessing the consumer's
creditworthiness were evaluated by Financial Supervision Authority.

Coop Pank AS and Coop Finants AS have already eliminated several of the
deficiencies identified in the order by supplementing the internal regulations
and processes. Action plan have been developed to eliminate the remaining
deficiencies and this has been coordinated with the Estonian Financial
Supervision Authority.

"It has always been important for us to fulfil all the requirements arising from
the regulations. Both Coop Pank AS and Coop Finants AS are in dialogue with
supervision and we are eliminating the deficiencies as directed," commented
Heikko Mäe, risk manager of Coop Pank.

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 136,100. 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 330 stores.

Additional information:
Katre Tatrik
Communication Manager
Tel: +372 5151 859
E-mail: katre.tatrik@cooppank.ee (mailto:katre.tatrik@cooppank.ee)