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
16688
Submission date and time
14.11.2024 18:58:06
Content of announcement in Estonian
Title
Coop Pank AS sai täiendava tegevusloa pandikirjade väljastamiseks
Message
Euroopa Keskpank väljastas Eesti Finantsinspektsiooni ettepanekul Coop Pank AS-ile pandikirjade emiteerimist võimaldava täiendava tegevusloa. Saadud täiendav tegevusluba on vajalik eeldus pandikirjade emissiooniks. Tegeliku emissiooni läbiviimise sh emissiooni ajastuse, mahu ja muud tingimused, otsustab pank vastavalt turuolukorrale ning panga finantseerimisvajadustele. Esialgsete prognooside kohaselt toimub esimene emissioon 2025. aasta esimeses pooles. Täpsema emissiooni aja ja tingimuste selgumisel teavitab pank sellest eraldi börsiteatega. Pandikirjade emiteerimise eesmärk on panga finantseerimisstruktuuri mitmekesistamine ja stabiilsete pikaajaliste vahendite kaasamine. Sobivate turutingimuste olemasolul tekib pangal võimalus kaasatavate vahendite arvelt finantseerida täiendavat laenutegevust ning tagada enda rahastus soodsamatel tingimustel. Coop Panga finantsjuhi Paavo Truu sõnul on Coop Panga eluasemelaenude portfelli maht kasvanud piisavalt suureks, et pakkuda pangale võimalust pandikirjade emiteerimiseks. Stabiilsem ning soodsamatel tingimustel rahastus võimaldab pangal pakkuda paremaid tingimusi klientidele ning kasvatada oma turuosa konkurents suuremate välispankadega. Eesti kapitalil põhinev Coop Pank on üks viiest Eestis tegutsevast universaalpangast. Pangal on 203 900 igapäevapanganduse klienti. Coop Pank kasutab jaekaubanduse ja panganduse vahel tekkivat sünergiat ning toob igapäevased pangateenused kodule lähemale. Panga strateegiline omanik on kodumaine kaubanduskett Coop Eesti, mille müügivõrgustikku kuulub 320 kauplust. Lisainfo: Paavo Truu Finantsjuht Telefon: 5160 231 E-post: [email protected]
Content of announcement in English
Title
Coop Pank AS received an additional license for issuing covered bonds
Message
On the proposal of Estonian Financial Supervision Authority, the European Central Bank granted to Coop Pank AS an additional activity license enabling the issuance of covered bonds. The additional activity license obtained is a necessary prerequisite for the issuance of covered bonds. The actual issuance, including the timing, volume, and other conditions, will be decided by the bank based on market conditions and the bank's financing needs. According to initial forecasts, the first issuance is expected to take place in the first half of 2025. The bank will notify the market with a separate stock exchange announcement once the exact timing and conditions of the issuance are determined. The purpose of issuing covered bonds is to diversify the bank's financing structure and stable long-term funds. If suitable market conditions are present, the bank will have the opportunity to finance additional lending activities and secure its funding on more favorable terms. More stable and favorable financing allows the bank to offer better conditions to customers and increase its market share in competition with larger foreign banks. According to Paavo Truu, CFO of Coop Pank, the volume of Coop Pank's housing loan portfolio has grown large enough to offer the bank the opportunity to issue covered bonds. 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 203 900. 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: 5160 231 E-mail: [email protected]