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
16533
Attachments
Submission date and time
18.10.2024 08:00:11
Content of announcement in Estonian
Title
Coop Pank 2024. aasta III kvartali auditeerimata majandustulemused
Message
2024. aasta III kvartali lõpu seisuga oli Coop Pangal 202 000 klienti. Klientide arv kasvas kvartaliga 6000 kliendi võrra (+3%) ja aastaga 27 000 võrra (+15%). Aktiivselt arveldavaid kliente oli 90 100, kvartaliga kasvas aktiivselt arveldavate klientide arv 600 võrra (+1%) ja aastaga 12 700 võrra (+16%). Coop Panga hoiuste maht kasvas 2024. aasta III kvartalis 99 miljoni euro võrra (+6%), ulatudes 1,84 miljardi euroni. Eraklientide hoiuste portfell kasvas 9 miljoni euro võrra: nõudmiseni hoiused kasvasid 3 miljoni euro võrra ja tähtajalised hoiused kasvasid 6 miljoni euro võrra. Äriklientide hoiuste maht kasvas 11 miljoni euro võrra: nõudmiseni hoiused kasvasid 17 miljoni euro võrra ja tähtajalised hoiused kahanesid 6 miljoni euro võrra. Rahvusvahelise hoiuste kaasamise platvormi Raisin hoiused ja muu finantseering kasvas 79 miljoni euro võrra. Võrreldes 2023. aasta III kvartaliga on Coop Panga hoiuste maht kasvanud 132 miljoni euro võrra (+8%). Aastases võrdluses on panga nõudmiseni hoiuste osakaal kõigist hoiustest tõusnud 31% pealt 32% peale. 2024. aasta III kvartalis oli finantseerimiskulu 3,3%, eelmisel aastal samal ajal 2,9%. 2024. aasta III kvartalis kasvas Coop Panga neto laenuportfell 40 miljoni euro võrra (+2%), ulatudes 1,66 miljardi euroni. Kodulaenude portfell kasvas kvartaliga 31 miljonit eurot (+5%), ärilaenude portfell kasvas 4 miljonit eurot (+1%), liisinguportfell kasvas 3 miljonit eurot (+2%) ja tarbimisfinantseerimise portfell kasvas 1 miljonit eurot (+1%). 2023. aasta III kvartaliga võrreldes on laenuportfell kasvanud 167 miljoni euro võrra (+11%). 2024. aasta III kvartalis kasvas Coop Panga viivises olev laenuportfell 2,2% tasemelt 2,4% tasemele. Aasta tagasi oli viivises olev laenuportfell 2,1% tasemel. Finantsvarade allahindluse kulu oli 2024. aasta III kvartalis 1,0 miljonit eurot, mida on 0,2 miljonit eurot vähem (-17%) kui eelmises kvartalis ja 0,3 miljonit eurot vähem (-21%) kui oli 2023 III kvartalis. Coop Panga netotulud olid 2024. aasta III kvartalis 21,2 miljonit eurot, kasvades kvartaalses võrdluses 4% ja kahanedes aastases võrdluses 7%. Tegevuskulud ulatusid III kvartalis 10,3 miljoni euroni, kasvades kvartaalses võrdluses 2% ja aastases võrdluses 14%. Coop Pank teenis 2024. aasta III kvartalis 8,6 miljonit eurot puhaskasumit, mida on 8% rohkem kui eelmises kvartalis ja 22% vähem kui aasta tagasi. Panga kulude ja tulude suhe oli III kvartalis 48% ning omakapitali tootlus 17,3%. Coop Pangal on 30.09.2024 seisuga 36 400 aktsionäri. Coop Panga juhatuse esimehe Margus Rinki kommentaar tulemustele: „Septembri alguses liitus Coop Pangaga 200 000. klient. Jätkame kliendibaasi tempokat kasvatamist: igakuiselt kasvab meie klientide arv keskmiselt ligi 2000 uue kliendi võrra ning arveldavate klientide arv ligi 1000 võrra. Coop Panga laenuportfelli kasvu vedasid kolmandas kvartalis erakliendi kodulaenud. Ärikliendi laenuportfelli kasv oli tagasihoidlik. Aastaga on Eesti pankade era- ja äriklientide laenuportfell kasvanud ligi 6% (1,6 mld €), samal ajal on Coop Panga laenuportfelli kasv olnud ligi 11% (167 mln €). Seega kasvavad Coop Panga laenumahud kaks korda kiiremini kui turg. Laenuportfelli kvaliteet püsib jätkuvalt väga hea ning pikk seisak majanduses ei ole klientide maksekäitumisele mõju avaldanud. Intressikeskkond on langeva trendiga. Möödunud aasta sügisest on 6 kuu euribor langenud ligi 1 protsendipunkti võrra (4,1% tasemelt 3,1% tasemele). Samaga on vastanud ka hoiuste intressid: aastasele hoiusele makstav intress on vähenenud samuti 1 protsendipunkti võrra (4,3% tasemelt 3,3% tasemele). Nimetatud trendide tulemusena langes meie netointressimarginaal aastaga 4,4% pealt 3,9% peale. Langevas intressikeskkonnas saavad panga tulud kasvada vaid ärimahtude kasvu arvelt ning nii on see Coop Pangas ka olnud. Kokkuvõttes oleme panga tulemusnäitajatega pärast erakorralist, kõrgete intressitasemetega 2023. aastat tagasi reaalsuses ehk 2022. aasta tasemel. Vastavalt Coop Panga pikaajalistele eesmärkidele on meie kulu-tulu suhe alla 50% ja omakapitali tootlust üle 15%.“ Kasumiaruanne, tuh eurodes 2024 III kv 2024 II kv 2023 III kv 2024 9 kuud 2023 9 kuud Neto intressitulud 20 021 19 319 21 257 58 420 60 672 Neto teenustasutulud 1 040 1 000 1 147 3 054 3 359 Muud tegevustulud, neto 167 146 334 438 758 Netotulud kokku 21 228 20 464 22 738 61 912 64 789 Tööjõukulud -6 138 -5 858 -5 297 -17 405 -14 739 Turunduskulud -593 -775 -630 -1 902 -1 676 Rent, kontorikulud ja mat.pv kulum -729 -775 -673 -2 299 -2 098 IT kulud ja immat.pv kulum -1 579 -1 474 -1 203 -4 457 -3 440 Muud kulud -1 221 -1 208 -1 218 -3 716 -3 230 Tegevuskulud kokku -10 261 -10 091 -9 022 -29 777 -25 182 Kasum enne allahindluste kulu 10 967 10 374 13 716 32 135 39 607 Finantsvarade allahindlus -1 022 -1 224 -1 296 -2 822 -5 155 Kasum enne tulumaksu 9 945 9 150 12 420 29 313 34 452 Tulumaksu kulu -1 296 -1 152 -1 344 -3 528 -3 634 Aruandeperioodi puhaskasum 8 649 7 998 11 076 25 785 30 818 Puhaskasum aktsia kohta, eur 0,08 0,08 0,11 0,25 0,30 Lahustatud puhaskasum aktsia kohta, eur 0,08 0,08 0,11 0,25 0,30 Finantsseisundi aruanne, tuh eurodes 30.09.2024 30.06.2024 31.12.2023 30.09.2023 Raha ja raha ekvivalendid 404 472 335 710 428 354 404 911 Võlainstrumendid 37 445 36 980 36 421 31 765 Laenud klientidele 1 661 152 1 621 000 1 490 873 1 493 985 Muud varad 31 956 32 608 30 564 30 527 Varad kokku 2 135 025 2 026 298 1 986 212 1 961 188 Klientide hoiused ja saadud laenud 1 838 626 1 739 709 1 721 765 1 707 214 Muud kohustised 28 026 28 121 28 435 27 451 Allutatud laenud 63 410 63 148 50 187 50 148 Kohustised kokku 1 930 062 1 830 978 1 800 387 1 784 813 Omakapital 204 963 195 320 185 825 176 375 Kohustised ja omakapital kokku 2 135 025 2 026 298 1 986 212 1 961 188 Coop Panga aruanded on leitavad aadressilt: https://www.cooppank.ee/aruandlus Coop Pank korraldab 2024. aasta III kvartali majandustulemuste tutvustamiseks veebiseminari 18. oktoobril 2024 kell 9.00. Osalemiseks palume eelnevalt registreeruda aadressil: https://bit.ly/18102024-registreerumine-veebiseminarile Veebiseminar salvestatakse ning avalikustatakse Coop Panga kodulehel www.cooppank.ee ja YouTube’i kontol. Eesti kapitalil põhinev Coop Pank on üks viiest Eestis tegutsevast universaalpangast. Pangal on 202 000 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]
Content of announcement in English
Title
Coop Pank unaudited financial results for Q3 2024
Message
By the end of the Q3 2024, Coop Pank had 202,000 customers, increased by 6,000 customers in the quarter (+3%) and by 27,000 in the year (+15%). The bank had 90,100 active customers, increased by 600 (+1%) in the quarter and by 12,700 (+16%) in the year. In Q3 2024, volume of deposits in Coop Pank increased by 99 million euros (+6%), reaching total of 1.84 billion euros. Deposits from private clients increased by 9 million euros: demand deposits increased by 3 million euros and term deposits increased by 6 million euros. Deposits from domestic business customers increased by 11 million euros: demand deposits increased by 17 million euros and term deposits decreased by 6 million euros. Deposits from the international deposit platform Raisin and other financing increased by 79 million euros. Compared to Q3 2023, volume of Coop Pank's deposits has increased by 132 million euros (+8%). In an annual comparison, share of demand deposits of total deposits has increased from 31% to 32%. In Q3 2024, the bank’s financing cost was 3.3%, at the same time last year the financing cost was 2.9%. In Q3 2024, net loan portfolio of Coop Pank increased by 40 million euros (+2%), reaching 1.66 billion euros. The volumes of home loan portfolio increased by 31 million euros (+5%), the volumes of business loan portfolio increased by 4 million euros (+1%), the leasing portfolio increased by 3 million euros (+2%) and consumer finance portfolio increased by 1 million euros (+1%). Compared to Q3 2023, total loan portfolio of Coop Pank has increased by 167 million euros (+11%). In Q3 2024, overdue loan portfolio of Coop Pank increased from the level of 2.2% to the level of 2.4%. A year ago, overdue loan portfolio was at the level of 2.1%. Impairment costs of financial assets in Q3 2024 were 1.0 million euros, which is 0.2 million euros (-17%) less than in the previous quarter and 0,3 million euros (-21%) less than in Q3 2023. Net income of Coop Pank in Q3 2024 was 21.2 million euros, increasing by 4% in a quarterly comparison and decreasing by 7% in an annual comparison. Operating expenses reached 10.3 million euros in Q3, operating expenses increased by 2% in the quarterly comparison and 14% in the annual comparison. In Q3 2024, net profit of Coop Pank was 8.6 million euros, which is 8% more than in the previous quarter and 22% less than a year ago. In Q3 2024, cost to income ratio of the bank was 48% and return on equity was 17.3%. As of 30 September 2024, Coop Pank has 36,400 shareholders. Margus Rink, Chairman of the Management Board of Coop Pank, comments the results: “At the beginning of September, the 200,000th customer joined Coop Pank. We continue to rapidly grow our customer base: an average, the number of our customers increases by nearly 2,000 and the number of customers actively using our services by nearly 1,000 every month. In the third quarter, the growth of Coop Pank's loan portfolio was driven by private customer home loans. The growth of the business customers loan portfolio was modest. Over the year, the loan portfolio of private and business customers of Estonian banks has grown by nearly 6% (€1.6 billion), while the loan portfolio of Coop Pank has grown by nearly 11% (€167 million). Thus, Coop Pank's loan volumes grow twice as fast as the market. The quality of the loan portfolio continues to be very good, and the long stagnation in the economy has not affected the payment behaviour of customers. The interest rate environment is in a downward trend. Since the fall of last year, the 6-month Euribor has fallen by almost 1 percentage point (from 4.1% to 3.1%). Interest on deposits has also responded: the interest paid on annual deposits has decreased by 1 percentage point (from 4.3% to 3.3%). As a result of the mentioned trends, our net interest margin fell from 4.4% to 3.9% during the year. In a falling interest rate environment, the bank's revenues can only grow at the expense of the growth of business volumes, and that is how it has been at Coop Pank. In summary, with the bank's performance indicators, after the extraordinary year of 2023 with high interest levels, we are back in reality, i.e. at the level of 2022. According to Coop Pank's long-term goals, our cost-income ratio is below 50% and our return on equity is above 15%." Income statement, in th. of euros Q3 2024 Q2 2024 Q3 2023 9M 2024 9M 2023 Net interest income 20 021 19 319 21 257 58 420 60 672 Net fee and commission income 1 040 1 000 1 147 3 054 3 359 Net other income 167 146 334 438 758 Total net income 21 228 20 464 22 738 61 912 64 789 Payroll expenses -6 138 -5 858 -5 297 -17 405 -14 739 Marketing expenses -593 -775 -630 -1 902 -1 676 Rental and office expenses, depr. of tangible assets -729 -775 -673 -2 299 -2 098 IT expenses and depr. of intangible assets -1 579 -1 474 -1 203 -4 457 -3 440 Other operating expenses -1 221 -1 208 -1 218 -3 716 -3 230 Total operating expenses -10 261 -10 091 -9 022 -29 777 -25 182 Net profit before impairment losses 10 967 10 374 13 716 32 135 39 607 Impairment costs on financial assets -1 022 -1 224 -1 296 -2 822 -5 155 Net profit before income tax 9 945 9 150 12 420 29 313 34 452 Income tax expenses -1 296 -1 152 -1 344 -3 528 -3 634 Net profit for the period 8 649 7 998 11 076 25 785 30 818 Earnings per share, eur 0,08 0,08 0,11 0,25 0,30 Diluted earnings per share, eur 0,08 0,08 0,11 0,25 0,30 Statement of financial position, in th. of euros 30.09.2024 30.06.2024 31.12.2023 30.09.2023 Cash and cash equivalents 404 472 335 710 428 354 404 911 Debt securities 37 445 36 980 36 421 31 765 Loans to customers 1 661 152 1 621 000 1 490 873 1 493 985 Other assets 31 956 32 608 30 564 30 527 Total assets 2 135 025 2 026 298 1 986 212 1 961 188 Customer deposits and loans received 1 838 626 1 739 709 1 721 765 1 707 214 Other liabilities 28 026 28 121 28 435 27 451 Subordinated debt 63 410 63 148 50 187 50 148 Total liabilities 1 930 062 1 830 978 1 800 387 1 784 813 Equity 204 963 195 320 185 825 176 375 Total liabilities and equity 2 135 025 2 026 298 1 986 212 1 961 188 The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting Coop Pank will organise a webinar on 18 October 2024 at 9:00 AM, to present the financial results of Q3 2024. For participation, please register in advance at: https://bit.ly/18102024-registreerumine-veebiseminarile The webinar will be recorded and published on the company's website 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 202,000 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]