Market announcement
Coop Pank AS
Category
Other corporate action
Attachments
Date
18.04.2024 08:00:00
Title
Coop Pank 2024. aasta I kvartali auditeerimata majandustulemused
Message
2024. aasta I kvartali lõpu seisuga oli Coop Pangal 189 000 klienti, klientide arv kasvas kvartaliga 7000 kliendi võrra (+4%) ja aastaga 34 000 võrra (+22%). Aktiivselt arveldavaid kliente oli 84?400, kvartaliga kasvas aktiivselt arveldavate klientide arv 2400 võrra (+3%) ja aastaga 14 300 (+20%). Coop Panga hoiuste maht kahanes 2024. aasta I kvartalis 29 miljoni euro võrra (- 2%), ulatudes 1,69 miljardi euroni. Eraklientide hoiuste portfell kasvas 11 miljoni euro võrra: nõudmiseni hoiused kasvasid 8 miljoni euro võrra ja tähtajalised hoiused kasvasid 3 miljoni euro võrra. Äriklientide hoiuste maht kahanes 15 miljoni euro võrra: nõudmiseni hoiused kasvasid 6 miljoni euro võrra ja tähtajalised hoiused kahanesid 21 miljoni euro võrra. Rahvusvahelise hoiuste kaasamise platvormi Raisin hoiused ja muu finantseering kahanes 24 miljoni euro võrra. Võrreldes 2023. aasta I kvartaliga on Coop Panga hoiuste maht kasvanud 181 miljoni euro võrra (+12%). Aastases võrdluses on panga tähtajaliste hoiuste osakaal kõigist hoiustest kasvanud 59% pealt 70% peale. 2024. aasta I kvartalis oli finantseerimiskulu 3,5%, eelmisel aastal samal ajal 1,5%. 2024. aasta I kvartalis kasvas Coop Panga neto laenuportfell 40 miljoni euro võrra (+3%), ulatudes 1,53 miljardi euroni. Suurimat kasvu näitasid äri- ja kodulaenude ning liisingu portfell. Kodulaenude portfell kasvas kvartaliga 20 miljonit eurot (+3%), ärilaenude portfelli 11 miljonit eurot (+2%) ja liisinguportfell 10 miljonit eurot (+7%). Tarbimisfinantseerimise portfell kahanes 1 miljoni euro võrra (-1%). 2023. aasta I kvartaliga võrreldes on laenuportfell kasvanud 184 miljoni euro võrra (+14%). 2024. aasta I kvartalis kasvas Coop Panga viivises olev laenuportfell 2% tasemelt 2,4% tasemele. Aasta tagasi oli viivises olev laenuportfell 1,8% tasemel. Finantsvarade allahindluse kulu oli 2024. aasta I kvartalis 0,6 miljonit eurot, mida on 0,6 miljonit eurot (-50%) vähem kui eelmises kvartalis ja 1,1 miljonit eurot (-65%) vähem kui oli 2023 I kvartalis. Coop Panga netotulud olid 2024. aasta I kvartalis 20,2 miljonit eurot, kahanedes kvartaalses võrdluses 1% ja kasvades aastases võrdluses 3%. Tegevuskulud ulatusid I kvartalis 9 miljoni euroni - kahanedes kvartaalses võrdluses 5% ja kasvades aastases võrdluses 24%. Coop Pank teenis 2024. aasta I kvartalis 9,1 miljonit eurot puhaskasumit, mida on 9% rohkem kui eelmises kvartalis ja 3% vähem kui aasta tagasi. Panga kulude ja tulude suhe oli I kvartalis 47% ning omakapitali tootlus 19,2%. Coop Pangal on 31.03.2024 seisuga 37?100 aktsionäri. Coop Panga juhatuse esimehe Margus Rinki kommentaar tulemustele: ?Tegutseme hetkel keskkonnas, kus kahe aasta pikkune majanduslangus on asendunud seisakuga ja loodetavasti näeme aastases perspektiivis esimesi märke majanduse pöördumisest kasvufaasi. Selles kontekstis tuleb lugeda Coop Panga laenuportfelli kvartaalset kasvu 40 miljoni euro võrra igati korralikuks tulemuseks. Samuti oleme rahul jätkuva klientide arvu kasvuga. Kui veel eelmise aasta lõpus prevaleeris turgudel ootus intressimäärade järkjärguliseks languseks alates sellest aastast, siis nüüdseks on intressilanguse algpunkt nihkunud suvekuudesse ning turud ennustavad mõnevõrra väiksemat languse ulatust käesoleval aastal. Pankade intressitulud on sellises keskkonnas oma tipu saavutanud ning ettepoole vaatavalt langeva trendiga. Samuti on ka intressikulud oma tipptaseme saavutanud ning hoiustele pakutavad intressimäärad on täna märksa väiksemad kui veel mõned kuud tagasi. Siit edasi saavad pankade netointressitulud kasvada vaid ärimahtude kasvatamise arvelt. Laenuportfelli kvaliteet on paariaastasele majanduslangusele hästi vastu pidanud. Viimases kvartalis oli meie krediidikulu väga madal, kuna lahenesid probleemid paari ärikliendiga ning vabastasime nimetatud laenudele tehtud allahindlused. Samas kodulaenuportfellis on mõnevõrra kasvanud lühiajaliste võlglaste arv, kes küll enamasti leiavad lahenduse juba enne järgmise laenumakse tähtaja saabumist. Kokkuvõttes tagas ärimahtude kasv, kõrgete intressimäärade püsimine ning madal krediidikulu meile käesoleva aasta esimeses kvartalis väga korraliku kasumi ning tulemusnäitajad. Oleme tugevalt kapitaliseeritud ning omame piisavalt hoiuseid selleks, et finantseerida ettevõtete ning eraisikute laenusoove, mis pööraks Eesti majanduskasvule. Majanduskasv kataks otseselt riigi rahakotis olevat puudujääki ning vähendaks survet maksutõusudele ning kulukärbetele." Kasumiaruanne, tuhandetes eurodes 2024 I kv 2023 IV kv 2023 I kv ------------------------------------------------------------------------- Neto intressitulud 19 082 20 594 18 372 Neto teenustasutulud 1 014 1 489 1 028 Muud tegevustulud, neto 125 -1 666 261 ------------------------------------------------------------------------- Netotulud kokku 20 221 20 417 19 661 ------------------------------------------------------------------------- Tööjõukulud -5 409 -5 495 -4 542 Turunduskulud -533 -912 -412 Rent, kontorikulud ja mat. põhivara kulum -795 -678 -700 IT kulud ja immat. põhivara kulum -1 405 -1 363 -1 155 Muud kulud -1 286 -1 498 -788 ------------------------------------------------------------------------- Tegevuskulud kokku -9 427 -9 948 -7 596 ------------------------------------------------------------------------- Kasum enne allahindluste kulu 10 794 10 469 12 065 Finantsvarade allahindlus -576 -1 148 -1 627 Kasum enne tulumaksu 10 218 9 322 10 438 Tulumaksu kulu -1 080 -935 -1 063 ------------------------------------------------------------------------- Aruandeperioodi puhaskasum 9 138 8 386 9 375 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Puhaskasum aktsia kohta, eur 0,09 0,08 0,09 Lahustatud puhaskasum aktsia kohta, eur 0,09 0,08 0,09 ------------------------------------------------------------------------- Finantsseisundi aruanne, tuhandetes eurodes 31.03.2024 31.12.2023 31.03.2023 Raha ja raha ekvivalendid 380 644 428 354 334 074 Võlainstrumendid 36 460 36 421 18 932 Laenud klientidele 1 531 038 1 490 873 1 346 822 Muud varad 31 320 30 564 30 048 ----------------------------------------------------------------------------- Varad kokku 1 979 461 1 986 212 1 729 876 ----------------------------------------------------------------------------- Klientide hoiused ja saadud laenud 1 693 254 1 721 765 1 512 627 Muud kohustised 27 698 28 436 20 599 Allutatud laenud 63 239 50 187 38 101 ----------------------------------------------------------------------------- Kohustised kokku 1 784 191 1 800 387 1 571 327 ----------------------------------------------------------------------------- Omakapital 195 270 185 825 158 549 ----------------------------------------------------------------------------- Kohustised ja omakapital kokku 1 979 461 1 986 212 1 729 876 ----------------------------------------------------------------------------- Coop Panga aruanded on leitavad aadressilt: https://www.cooppank.ee/aruandlus Coop Pank korraldab 2024. aasta I kvartali majandustulemuste tutvustamiseks veebiseminari 18. aprillil 2024 kell 9.00. Osalemiseks palume eelnevalt registreeruda aadressil: https://bit.ly/CP-180424-registreerimine Veebiseminar salvestatakse ning avalikustatakse Coop Panga kodulehel www.cooppank.ee (http://www.cooppank.ee) ja YouTube'i kontol (https://www.youtube.com/@cooppank). Eesti kapitalil põhinev Coop Pank on üks viiest Eestis tegutsevast universaalpangast. Pangal on 189 000 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: paavo.truu@cooppank.ee (mailto:paavo.truu@cooppank.ee)
Title
Coop Pank unaudited financial results for Q1 2024
Message
By the end of the Q1 2024, Coop Pank had 189,000 customers, increased by 7,000 customers in the quarter (+4%) and by 34,000 in the year (+22%). The bank had 84,400 active customers, increased by 2,400 (+3%) in the quarter and by 14,300 (+20%) in the year. In Q1 2024, volume of deposits in Coop Pank decreased by 29 million euros (- 2%), reaching total of 1.69 billion euros. Deposits from private clients increasing by 11 million euros: demand deposits increased by 8 million euros and term deposits increased by 3 million euros. Deposits from domestic business customers decreased by 15 million euros: demand deposits increased by 6 million euro and term deposits decreased by 21 million euros. Deposits from international deposit platform Raisin and other financing decreased by 24 million euros. Compared to Q1 2023, volume of Coop Pank's deposits has increased by 181 million euros (+12%). In an annual comparison, share of term deposits of total deposits has increased from 59% to 70%. In Q1 2024, the bank's financing cost was 3.5%, at the same time last year the financing cost was 1.5%. In Q1 2024, net loan portfolio of Coop Pank increased by 40 million euros (+3%), reaching 1.53 billion euros. Business loans and home loans portfolio and leasing showed the biggest growth. The volumes of home loan portfolio increased by 20 million euros (+3%), the volumes of business loan portfolio increased by 11 million euros (+2%) and leasing portfolio increased by 10 million euros (+7%). Consumer finance portfolio decreased by 1 million euros (-1%). Compared to Q1 2023, total loan portfolio of Coop Pank has grown by 184 million euros (+14%). In Q1 2024, overdue loan portfolio of Coop Pank increased from the level of 2% to the level of 2.4%. A year ago, overdue loan portfolio was at the level of 1.8%. Impairment costs of financial assets in Q1 2024 were 0.6 million euros, which is 0.6 million euros (-50%) less than in previous quarter and 1,1 million euros (- 65%) less than in Q1 2023. Net income of Coop Pank in Q1 2024 was 20.2 million euros, decreasing by 1% in a quarterly comparison and increasing by 3% in an annual comparison. Operating expenses reached 9 million euros in Q1 - operating expenses decreased by 5% in the quarterly comparison and increased 24% in the annual comparison. In Q1 2024, net profit of Coop Pank was 9.1 million euros, which is 9% more than in the previous quarter and 3% less than a year ago. In Q1 2024, cost to income ratio of the bank was 47% and return on equity was 19.2%. As of 31 March 2024, Coop Pank has 37,100 shareholders. Margus Rink, Chairman of the Management Board of Coop Pank, comments the results: "We are currently operating in an environment where two years of recession have been replaced by stagnation, and hopefully, in the annual perspective, we will see the first signs of the economy returning to the growth phase. In this context, the quarterly growth of Coop Pank's loan portfolio by 40 million euros must be considered a decent result. We are also pleased with the continued growth in the number of customers. At the end of last year, the expectation of a gradual decrease in interest rates from this year prevailed in the markets, now the starting point of the interest rate decrease has shifted to the summer months and this year markets are predicting a somewhat smaller decline. Banks' interest income has reached its peak in such an environment, with a downward trend looking forward. Interest costs have also reached their peak and the interest rates offered for deposits are much lower today than a few months ago. From here on, banks' net interest income can grow only at the expense of increasing business volumes. The quality of the loan portfolio has well withstood the few years recession. In the last quarter, our cost of credit was very low, as problems with a couple of business customers were resolved and we released the discounts of these loans. At the same time, the number of short-term debtors in the home loan portfolio has somewhat increased, but most of the time they find a solution before the next loan payment is due. In summary, the growth of business volumes, the persistence of high interest rates and low credit costs ensured us a very decent profit and performance indicators in the first quarter of this year. We are strongly capitalized and have enough deposits to finance the loan requests by companies and individuals, which would turn Estonia's economy to growth track. Economic growth would directly cover the deficit in the state purse and reduce the pressure on tax increases and spending cuts." Income statement, in th. of euros Q1 2024 Q4 2023 Q1 2023 ----------------------------------------------------------------------------- Net interest income 19 082 20 594 18 372 Net fee and commission income 1 014 1 489 1 028 Net other income 125 -1 666 261 ----------------------------------------------------------------------------- Total net income 20 221 20 417 19 661 ----------------------------------------------------------------------------- Payroll expenses -5 409 -5 495 -4 542 Marketing expenses -533 -912 -412 Rental and office expenses, depr. of tangible assets -795 -678 -700 IT expenses and depr. of intangible assets -1 405 -1 363 -1 155 Other operating expenses -1 286 -1 498 -788 ----------------------------------------------------------------------------- Total operating expenses -9 427 -9 948 -7 596 ----------------------------------------------------------------------------- Net profit before impairment losses 10 794 10 469 12 065 Impairment costs on financial assets -576 -1 148 -1 627 Net profit before income tax 10 218 9 322 10 438 Income tax expenses -1 080 -935 -1 063 ----------------------------------------------------------------------------- Net profit for the period 9 138 8 386 9 375 ----------------------------------------------------------------------------- ----------------------------------------------------------------------------- Earnings per share, eur 0,09 0,08 0,09 Diluted earnings per share, eur 0,09 0,08 0,09 ----------------------------------------------------------------------------- Statement of financial position, in th. of euros 31.03.2024 31.12.2023 31.03.2023 ------------------------------------------------------------------------------- Cash and cash equivalents 380 644 428 354 334 074 Debt securities 36 460 36 421 18 932 Loans to customers 1 531 038 1 490 873 1 346 822 Other assets 31 320 30 564 30 048 ------------------------------------------------------------------------------- Total assets 1 979 461 1 986 212 1 729 876 ------------------------------------------------------------------------------- Customer deposits and loans received 1 693 254 1 721 765 1 512 627 Other liabilities 27 698 28 436 20 599 Subordinated debt 63 239 50 187 38 101 ------------------------------------------------------------------------------- Total liabilities 1 784 191 1 800 387 1 571 327 ------------------------------------------------------------------------------- Equity 195 270 185 825 158 549 ------------------------------------------------------------------------------- Total liabilities and equity 1 979 461 1 986 212 1 729 876 ------------------------------------------------------------------------------- The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting Coop Pank will organise a webinar on 18 April 2024 at 9:00 AM, to present the financial results of Q1 2024. For participation, please register in advance at: https://bit.ly/CP-180424-registreerimine The webinar will be recorded and published on the company's website www.cooppank.ee (http://www.cooppank.ee) and on the YouTube channel (https://www.youtube.com/@cooppank). Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 189,000 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: paavo.truu@cooppank.ee (mailto:paavo.truu@cooppank.ee)