Market announcement
Coop Pank AS
LEI code
549300EHNXQVOI120S55
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Industry sector(s)
Credit institution
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
10252
Attachments
Submission date and time
20.04.2023 08:00:00
Content of announcement in Estonian
Title
Coop Pank 2023. aasta I kvartali auditeerimata majandustulemused
Message
2023. aasta I kvartali lõpu seisuga oli Coop Pangal 155 000 klienti, klientide arv kasvas kvartaliga 8200 kliendi võrra (+6%). Aktiivselt arveldavaid kliente oli pangal 70 100, kvartaliga kasvas aktiivselt arveldavate klientide arv 3300 võrra (+5%). Coop Panga hoiuste maht kasvas 2023. aasta I kvartalis 5 miljoni euro võrra (+0,3%), ulatudes 1,51 miljardi euroni. Kiireimat kasvu näitas eraklientide hoiuste portfell, mille maht kasvas 27 miljoni euro võrra: nõudmiseni hoiused vähenesid 7 miljoni euro võrra ja tähtajalised hoiused kasvasid 34 miljoni euro võrra. Äriklientide hoiuste maht kahanes 23 miljoni euro võrra, nõudmiseni hoiused kahanesid 94 miljoni euro võrra ja tähtajalised hoiused kasvasid 71 miljoni euro võrra. Rahvusvahelise hoiuste kaasamise platvormi Raisin hoiused ja muu finantseering kasvas 1 miljoni euro võrra. Võrreldes 2022. aasta I kvartaliga on Coop Panga hoiuste maht kasvanud 364 miljoni euro võrra (+32%). Aastases võrdluses on panga tähtajaliste hoiuste osakaal kõigist hoiustest kasvanud 50% pealt 59% peale. 2023. aasta I kvartalis oli finantseerimiskulu 1,4%, eelmisel aastal samal ajal 0,5%. 2023. aasta I kvartalis kasvas Coop Panga neto laenuportfell 46 miljoni euro võrra (+4%), ulatudes 1,35 miljardi euroni. Kiireimat kasvu näitas kodulaenude portfell, mille maht kasvas 25 miljoni euro võrra (+5%). Ärilaenude portfell kasvas 11 miljoni euro võrra (+2%), liisinguportfell kasvas 6 miljoni euro võrra (+5%) ja tarbimisfinantseerimise portfell kasvas 4 miljoni euro võrra (+4%). 2022. aasta I kvartaliga võrreldes on laenuportfell kasvanud 307 miljoni euro võrra (+29%). 2023. aasta I kvartalis kasvas Coop Panga viivises olev laenuportfell 1,5% tasemelt 1,8% tasemele. Aastas võrdluses on viivises olev laenuportfell langenud 1,9% tasemelt 1,8% tasemele. Finantsvarade allahindluse kulu oli 2023. aasta I kvartalis 1,6 miljonit eurot, mida on 0,1 miljonit eurot (+9%) rohkem kui oli 2022 I kvartalis. Coop Panga netotulud olid 2023. aasta I kvartalis 19,7 miljonit eurot, kasvades kvartaalses võrdluses 19% ja aastases võrdluses 71%. Tegevuskulud ulatusid I kvartalis 7,6 miljoni euroni - kasvades kvartaalses võrdluses 2% ja aastases võrdluses 23%. Coop Pank teenis 2023. aasta I kvartalis 9,4 miljonit eurot puhaskasumit, mida on 44% rohkem kui eelmises kvartalis ja 168% rohkem kui aasta tagasi. Panga kulude ja tulude suhe oli I kvartalis 39% ning omakapitali tootlus 24,4%. Coop Pangal on 31.03.2023 seisuga 36 500 aktsionäri, kvartaliga lisandus 500 (+1,3%) aktsionäri. Coop Panga juhatuse esimehe Margus Rinki kommentaar tulemustele: ?Coop Panga 2023. aasta esimese kvartali heade tulemuste taga on eelkõige ärimahtude kasv. Kuid positiivset mõju avaldas ka intressitasemete tõus turul. Näeme, et keskpankade poolt jahutatavas majanduskeskkonnas on Eesti pankade laenuportfellid turuüleselt langustrendis. Seevastu Coop Panga laenuportfell kasvas kvartaliga 46 miljoni euro võrra, millest ligi pool tuli kodulaenust. Oleme seitsme aastaga jõudnud positsiooni, kus Eestis väljastatavatest kodulaenudest tuleb täna iga kümnes laen meilt. Sama osatähtsus on Coop Pangal ka autoliisingu turul. Mõnevõrra tagasihoidlikumat mahtude kasvu näitas esimeses kvartalis ärilaen. Näeme, et ärikliendid on hetkel äraootavas positsioonis - laenupakkumisi küll võetakse, kuid lepingusse minnakse nendega pigem ettevaatlikult. Samuti näeme, et meie laenuportfell püsib kvaliteetne: suuri muutusi klientide maksekäitumises, võlglaste arvus ega ka laenude allahindlustes ei ole toimunud. Kuigi oleme laenukahjude tekkimiseks valmistunud, pole kindel, kas ja kui suures mahus me neid Eesti turul tegelikult näeme. Pigem kinnitavad viimased kvartalid, et laenukliendid suudavad muutunud oludega hakkama saada. Tõusnud intressimäärad on aktiveerinud kliente paigutama oma vaba raha tähtajalisele hoiusele. Selle tulemusena on tõusnud tähtajaliste hoiuste osakaal ja seda nii Coop Pangas kui ka turuüleselt. Coop Pangas maksame euribori kasvanud tuludest ligi poole tagasi hoiustajatele kõrgemate intresside näol. Coop Pank tegutseb üha kasvava efektiivsusega. Panga ärimahud ja tulud kasvavad kiiremini kui meie tegevuskulud. Kõik see päädis rekordilise kvartalikasumiga 9,4 miljonit eurot ja Coop Panga ajaloo parima kulu-tulu suhte (39%) ning omakapitali tootlusega (24,4%)." Kasumiaruanne, tuhandetes eurodes 2023 I kv 2022 IV kv 2022 I kv ------------------------------------------------------------------------- Neto intressitulud 18 372 15 765 10 595 Neto teenustasutulud 1 028 1 107 796 Muud tegevustulud, neto 261 -338 101 ------------------------------------------------------------------------- Netotulud kokku 19 661 16 534 11 492 ------------------------------------------------------------------------- Tööjõukulud -4 542 -4 216 -3 449 Turunduskulud -412 -526 -391 Rent, kontorikulud ja mat. põhivara kulum -699 -680 -688 IT kulud ja immat. põhivara kulum -1 155 -1 203 -973 Muud kulud -788 -814 -698 ------------------------------------------------------------------------- Tegevuskulud kokku -7 596 -7 439 -6 199 ------------------------------------------------------------------------- Kasum enne allahindluste kulu 12 065 9 095 5 293 Finantsvarade allahindlus -1 627 -1 898 -1 494 Kasum enne tulumaksu 10 438 7 197 3 799 Tulumaksu kulu -1 063 -682 -299 ------------------------------------------------------------------------- Aruandeperioodi puhaskasum 9 375 6 515 3 500 ------------------------------------------------------------------------- Finantsseisundi aruanne, tuhandetes eurodes 31.03.2023 31.12.2022 31.03.2022 ----------------------------------------------------------------------------- Raha ja raha ekvivalendid 334 074 364 878 230 938 Võlainstrumendid 18 932 18 747 4 964 Laenud klientidele 1 346 822 1 300 775 1 040 209 Muud varad 30 048 29 776 29 572 ----------------------------------------------------------------------------- Varad kokku 1 729 876 1 714 176 1 305 683 ----------------------------------------------------------------------------- Klientide hoiused ja saadud laenud 1 512 627 1 508 126 1 148 536 Muud kohustised 20 599 18 795 14 775 Allutatud laenud 38 101 38 139 27 111 ----------------------------------------------------------------------------- Kohustised kokku 1 571 327 1 565 060 1 190 422 ----------------------------------------------------------------------------- Omakapital 158 549 149 116 115 261 ----------------------------------------------------------------------------- Kohustised ja omakapital kokku 1 729 876 1 714 176 1 305 683 ----------------------------------------------------------------------------- Coop Panga aruanded on leitavad aadressilt: https://www.cooppank.ee/aruandlus Coop Pank korraldab 2023. aasta I kvartali majandustulemuste tutvustamiseks veebiseminari 20. aprillil 2023 kell 9.00. Osalemiseks palume eelnevalt registreeruda aadressil: https://forms.office.com/e/KDVBgm3P8P Veebiseminar salvestatakse ning avalikustatakse Coop Panga kodulehel www.cooppank.ee (https://www.globenewswire.com/Tracker?data=ysaYE2aduEcKrKAVh7DYM6LiE28UTJqD7xkd SPeY2t-8glSNNf3zmGgGz59--m-ZGdW8mZfR_aEVv-L5dz38qQ==) ja YouTube'i kontol. Eesti kapitalil põhinev Coop Pank on üks viiest Eestis tegutsevast universaalpangast. Pangal on 155 000 igapäevapanganduse klienti. Coop Pank kasutab jaekaubanduse ja panganduse vahel tekkivat sünergiat ning toob igapäevased pangateenused inimeste kodu lähedale. Panga strateegiliseks aktsionäriks on kodumaine kaubanduskett Coop Eesti, mille müügivõrgustikku kuulub 320 kauplust. Lisainfo: Paavo Truu Finantsjuht Telefon: +372 516 0231 E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
Coop Pank unaudited financial results for Q1 2023
Message
By the end of the Q1 2023, Coop Pank had 155,000 customers, during the quarter the number of customers increased by 8,200 (+6%). The bank had 70,100 active customers, during the quarter the number of active customers increased by 3,300 (+5%). In Q1 2023, volume of deposits in Coop Pank increased by 5 million euros (+0.3%), reaching total of 1.51 billion euros. Deposits from private clients showed the fastest growth, increasing by 27 million euros: demand deposits decreased by 7 million euros and term deposits increased by 34 million euros. Deposits from domestic companies decreased by 23 million euros: demand deposits decreased by 94 million euros and term deposits increased by 71 million euros. Deposits from international deposit platform Raisin and other financing increased by 1 million euro. Compared to Q1 2022, volume of Coop Pank's deposits has increased by 364 million euros (+32%). In an annual comparison, share of term deposits of total deposits has increased from 50% to 59%. In Q1 2023, the bank's financing cost was 1.4%, at the same time last year the financing cost was 0.5%. In Q1 2023, net loan portfolio of Coop Pank increased by 46 million euros (+4%), reaching 1.35 billion euros. Home loans portfolio showed the fastest growth, increasing the volume by 25 million euros (+5%). Business loans portfolio increased by 11 million euros (+2%), leasing portfolio increased by 6 million euros (+5%) and consumer finance portfolio increased by 4 million euros (+4%). Compared to Q1 2022, total loan portfolio of Coop Pank has grown by 307 million euros (+29%). In Q1 2023, overdue loan portfolio of Coop Pank increased from the level of 1.5% to the level of 1.8%. In an annual comparison, overdue loan portfolio decreased from the level of 1,9% to 1,8%. Impairment costs of financial assets in Q1 2023 were 1.6 million euros, which is 0.1 million euros (+9%) more than in Q1 2022. Net income of Coop Pank in Q1 2023 was 19.7 million euros, having grown 19% over the quarter and 71% over the year. Operating expenses reached 7.6 million euros in Q1 - operating expenses increased 2% in the quarterly comparison and 23% in the annual comparison. In Q1 2023, net profit of Coop Pank was 9.4 million euros, which is 44% more than in the previous quarter and 168% more than a year ago. In Q1 2023, cost to income ratio of the bank was 39% and return on equity was 24.4%. As of 31 March 2023, Coop Pank has 36,500 shareholders, 500 (+1.3%) shareholders have been added over the quarter. Margus Rink, Chairman of the Management Board of Coop Pank, comments the results: "Coop Pank's good results in the first quarter of 2023 are mainly due to the increase in business volumes. However, the increase in interest levels in the market also had a positive effect. We see that in the economic environment cooled by the central banks, the loan portfolios of Estonian banks are in a market-wide downward trend. On the other hand, Coop Pank's loan portfolio increased by 46 million euros in the quarter, almost half of it came from home loans. In seven years, we have reached a position where today every tenth home loan issued in Estonia comes from us. Coop Pank has the same market share in the car leasing. In the first quarter, business loans portfolio showed somewhat more modest growth. We see that business customers are currently in a wait-and-see position - loan offers are asked, but contracts are approached with delay. We also see that our loan portfolio remains high-quality: there have been no major changes in the payment behaviour of customers, in the number of debtors, nor in loan discounts. Although we have prepared for the possible occurrence of loan losses, it is not certain whether and to what extent we will actually see them in the Estonian market. Rather, the last quarters confirm that loan customers can cope with the changed circumstances. The increased interest rates have activated customers to place their free money in term deposits. As a result, the share of term deposits has increased, both in Coop Pank and across the market. At Coop Pank, we pay almost half of the revenues generated by Euribor back to depositors through higher interest rates. Coop Pank operates with increasing efficiency. The bank's business volumes and revenues are growing faster than our operating costs. All this resulted in a record quarterly profit of 9.4 million euros and the best cost-to-income ratio (39%) and return on equity (24.4%) in Coop Pank's history." Income statement, in thousands of euros Q1 2023 Q4 2022 Q1 2022 ----------------------------------------------------------------------------- Net interest income 18 372 15 765 10 595 Net fee and commission income 1 028 1 107 796 Net other income 261 -338 101 ----------------------------------------------------------------------------- Total net income 19 661 16 534 11 492 ----------------------------------------------------------------------------- Payroll expenses -4 542 -4 216 -3 449 Marketing expenses -412 -526 -391 Rental and office expenses, depr. of tangible assets -699 -680 -688 IT expenses and depr. of intangible assets -1 155 -1 203 -973 Other operating expenses -788 -814 -698 ----------------------------------------------------------------------------- Total operating expenses -7 596 -7 439 -6 199 ----------------------------------------------------------------------------- Net profit before impairment losses 12 065 9 095 5 293 Impairment costs on financial assets -1 627 -1 898 -1 494 Net profit before income tax 10 438 7 197 3 799 Income tax expenses -1 063 -682 -299 ----------------------------------------------------------------------------- Net profit for the period 9 375 6 515 3 500 ----------------------------------------------------------------------------- Statement of financial position, in thousands of euros 31.03.2023 31.12.2022 31.03.2022 ------------------------------------------------------------------------------- Cash and cash equivalents 334 074 364 878 230 938 Debt securities 18 932 18 747 4 964 Loans to customers 1 346 822 1 300 775 1 040 209 Other assets 30 048 29 776 29 572 ------------------------------------------------------------------------------- Total assets 1 729 876 1 714 176 1 305 683 ------------------------------------------------------------------------------- Customer deposits and loans received 1 512 627 1 508 126 1 148 536 Other liabilities 20 599 18 795 14 775 Subordinated debt 38 101 38 139 27 111 ------------------------------------------------------------------------------- Total liabilities 1 571 327 1 565 060 1 190 422 ------------------------------------------------------------------------------- Equity 158 549 149 116 115 261 ------------------------------------------------------------------------------- Total liabilities and equity 1 729 876 1 714 176 1 305 683 ------------------------------------------------------------------------------- The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting Coop Pank will organise a webinar on 20 April 2023 at 9:00 AM, to present the financial results of Q1 2023. For participation, please register in advance at: https://forms.office.com/e/KDVBgm3P8P The webinar will be recorded and published on the company's website www.cooppank.ee (http://www.cooppank.ee) and on the YouTube channel. Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 155,000 daily banking clients. 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: +372 516 0231 E-mail: [email protected] (mailto:[email protected])