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
Half-yearly financial report
Unique data record identifier
8176
Attachments
Submission date and time
21.07.2020 08:00:00
Content of announcement in Estonian
Title
Coop Pank 2020 aasta II kvartali auditeerimata majandustulemused
Message
2020. aasta II kvartalis kasvas Coop Panga neto laenuportfell 55 miljoni euro võrra (+11%), ulatudes 559 miljoni euroni. Kiireimat kasvu näitas ärilaenude portfell, mille maht kasvas 28 miljoni euro võrra (+16%), kodulaenude portfell kasvas 20 miljoni euro võrra (+10%), liisinguportfell 5 miljoni euro võrra (+7%) ja tarbimisfinantseerimise portfell kasvas 2 miljoni euro võrra (+3%). 2019. aasta II kvartaliga võrreldes on Coop Panga laenuportfell kasvanud 179 miljoni euro võrra ehk 47%. Coop Panga hoiuste maht kasvas 2020. aasta II kvartalis 68 miljoni euro võrra (+12%), ulatudes 615 miljoni euroni. Panga nõudmiseni hoiuste maht kasvas 33 miljoni euro võrra (+20%), millest 23 miljonit eurot tuli panga äriklientidelt ning 10 miljonit eraklientidelt. Tähtajaliste hoiuste maht kasvas 35 miljoni euro võrra, millest enamik ehk 31 miljonit eurot tuli rahvusvahelise hoiuste kaasamise platvormi Raisin kaudu. Kodumaisetelt ettevõtetelt kaasati teises kvartalis 3 miljoni ja eraklientidelt 1 miljoni euro ulatuses tähtajalisi hoiuseid. Võrreldes 2019. aasta II kvartaliga on Coop Panga hoiuste maht kasvanud 206 miljoni euro võrra ehk 50%. Klientide nõudmiseni hoiuste osakaal on suurenenud 26%-lt möödunud aasta II kvartali lõpus 32%-ni käesoleva aasta II kvartali lõpus. Panga finantseerimiskulu kvartaliga oluliselt ei muutunud ja oli 1% tasemel. 2020. aasta II kvartalis püsis Coop Panga viivises olev laenuportfell 7% tasemel. Tulenevalt koroonaviiruse leviku tõkestamiseks seatud piirangute mõjust majanduskeskkonnale tehti 2020. aasta II kvartalis laenuportfellile täiendavaid allahindlusi 0,7 miljoni euro ulatuses. Laenude allahindluse kogukulu teises kvartalis oli kokku 1,7 miljonit eurot. Panga klientide arv ulatus 2020. aasta II kvartali lõpu seisuga 74 500 kliendini, kasvades kvartaliga 5100 kliendi võrra ehk 7%. Pangas arvelduskontot omavate eraklientide arv kasvas kvartaliga 4600 ja äriklientide arv 500 võrra. Aastases võrdluses on Coop Panga kliendibaas kasvanud 44% ehk 22 700 kliendi võrra. Coop Panga netotulud olid 2020. aasta II kvartalis 7,5 miljonit eurot, tõustes aastases võrdluses 33% ning kvartaalses võrdluses 5%. Tegevuskulud ulatusid II kvartalis 4,4 miljoni euroni, kasvades aastases võrdluses 11% ning kahanedes kvartaalses võrdluses 2%. Panga ärikasum oli II kvartalis 3,1 miljonit eurot, kasvades aastaga 83% ning kvartaliga 16%. Coop Pank teenis 2020. aasta II kvartalis 1,4 miljonit eurot puhaskasumit, kasv aastaga 9% ning aasta esimese kvartaliga võrreldes kahanemine 7%. Panga kulude ja tulude suhe alanes 2020. aasta I kvartali 62% tasemelt 58% tasemele käesoleva aasta II kvartalis. Coop Panga omakapitali tootlus II kvartalis oli 6%. Coop Pangal on 30.06.2020 seisuga 12 401 aktsionäri, kvartaliga on lisandunud 443 aktsionäri. Coop Panga juhatuse esimehe Margus Rinki kommentaar tulemustele: ?Käesoleva aasta tulemusi on kindlasti mõjutanud koroonaviiruse levik ja selle tõkestamiseks seatud piirangud majanduskeskkonnas. Hoolimata keerulisest keskkonnast suutsime ärimahtudes teha korralikud kasvud. 2020. aasta esimese 6 kuuga kasvas laenuportfell ligi 100 miljoni euro võrra ehk ca 2 korda enam kui aasta tagasi samal perioodil. Kiirenevas tempos suurenenud ärimahud on kasvatanud panga neto intressitulusid, mille kasvutempo ületab kahe viimase kvartali jooksul selgelt kulude kasvutempot. Esimese kvartali lõpus langetatud otsus panga tegevuskulude kärpimiseks ja täiendavate kokkuhoiumeetmete rakendamiseks tagas teises kvartalis 2% kulude languse võrreldes esimese kvartaliga. Tulude kasv ennaktempos ja madalamad kulud tagasid panga 6 kuu ärikasumi 78% kasvu võrreldes eelmise aasta sama perioodiga. Kahtlemata ei kajastu majanduskeskkonna muutuse mõju täies mahus veel panga tänastes tulemustes. Esimese kvartali lõpus ja teise alguses nägime klientide maksepuhkuste taotluste arvu kasvu ning eraklientide huvi mõningast kahanemist finantseerimistoodete järgi. Alates aprillikuu teisest poolest aga ärimahud taastusid. Kuigi laenuportfelli kvaliteet on püsinud stabiilsena, siis oleme majanduskeskkonna negatiivse mõju tarbeks moodustanud aasta esimese 6 kuuga täiendavaid provisjone 1,1 miljoni euro ulatuses. Oleme laenuportfellile allahindluste tegemisel hoidnud konservatiivset joont ning jätkame seda ka edaspidi. Uute era- ja äriklientide lisandumine on toonud kaasa nõudmiseni hoiuste kiire kasvu. Näeme, et kliendiks saamisele järgneb ka sissetuleku ning laekumiste suunamine uuele pangakontole ning seetõttu jõudis teise kvartali lõpuks klientide nõudmiseni hoiuste osakaal kolmandikuni kogu panga hoiuste mahust, mis pikas perspektiivis aitab langetada finantseerimise kulu. Kantar Emor viis käesoleva aasta kevadel 11. korda läbi Eesti elanike lemmikbrändide uuringu, mille andmetel esikümne üheks suuremaks tõusjaks võrreldes eelneva aastaga oli edetabeli kolmandale kohale tõusnud panga katusbränd Coop. Uuringufirma sõnul on Coop brändi meeldivuse tõusu kindlustanud maapiirkondade elu hoidja ja edendaja selge kuvand. Käesoleva aasta mais agentuuri Initiative poolt läbi viidud uuringu kohaselt on kasvanud ka Coop Panga spontaanne tuntus, mis jõudis 62% tasemele. Panga tuntuse ja meeldivuse kasv loob head eeldused kiire kasvu jätkamiseks ning kinnitab ka Coopi jaekaubanduse ja panganduse sünergial põhineva strateegia tugevust ja väärtust klientide silmis. Coop Panga 2020. aasta II kvartali olulisematest sündmustest saab esile tuua aprilli lõpust panga eraklientidele loodud uus teenus, kus panga mobiiliäpis on võimalik teha ja võtta vastu nimemakseid, mis tähendab, et pangaülekannete tegemisel piisab vaid makse saaja telefoninumbri ja nime teadmisest. Mais alustas Coop Pank ettevõtetele faktooringu teenuse pakkumist ning juuni alguses tõi Coop Liising turule autokaubamaja, mille eesmärgiks on muuta auto ostmine senisest mugavamaks, pakkudes kliendile ?one-stop shop" lahendust, mille käigus saab klient endale ühest kohast valida välja uue auto ning võtta juurde kõige sobivama finantseerimis- ning kindlustuslahenduse. Coop Panga aktsionärid valisid 28. mail toimunud aktsionäride korralisel üldkoosolekul pangale uue kuueliikmelise nõukogu, mille esimeheks nimetati nõukogu esimesel koosolekul 17. juunil Coop Eesti Keskühistu juhatuse esimees Alo Ivask, aseesimeheks Eesti Panga eelmine president Ardo Hansson ning liikmeteks Jaan Marjundi, Raul Parusk, Roman Provotorov ning Silver Kuus. Juunis hakkas Coop Pank pakkuma võimalust laenutaotluste esitamisel kasutada töökoha ja sissetuleku andmete edastamiseks Maksu- ja Tolliameti andmeid, mis muudab laenu taotlemise mugavamaks ja klient saab vastuse kiiremini. Coop Panka iseloomustab julgus teha pangandust uuenduslikult, luues pangateenuseid, mis sobituvad meie kliendi igapäevaste tegevustega just seal, kus ta neid vajab. Kohaliku pangana teeme otsused kiirelt ning oleme paindlikud, et aidata kaasa Eesti elu edenemisele. Jätkame jaekaubanduse ja panganduse integratsioonil põhineva eristuva strateegia elluviimist." Kasumiaruanne, tuhandetes eurodes II kv 2020 I kv 2020 6k 2020 II kv 2019 6k 2019 ------------------------------------------------------------------------------- Neto intressitulu 6 852 6 358 13 210 4 939 9 439 Neto teenustasutulu 477 521 998 606 1 157 Muud tulud, neto 135 238 373 77 238 ------------------------------------------------------------------------------- Netotulud kokku 7 464 7 117 14 581 5 622 10 834 ------------------------------------------------------------------------------- Tööjõukulud -2 603 -2 662 -5 265 -2 355 -4 603 Turunduskulud -201 -226 -427 -277 -490 Rendi- ja kontorikulud, materiaalse põhivara kulum -552 -563 -1 115 -460 -754 IT kulud ja immateriaalse põhivara kulum -565 -490 -1 055 -384 -836 Muud tegevuskulud -434 -501 -935 -445 -905 ------------------------------------------------------------------------------- Tegevuskulud kokku -4 355 -4 442 -8 797 -3 921 -7 588 ------------------------------------------------------------------------------- Kasum enne allahindluse kulu 3 109 2 675 5 784 1 701 3 246 Finantsvarade allahindluse kulu -1 721 -1 214 -2 935 -448 -821 Kasum/kahjum enne tulumaksu 1 388 1 461 2 849 1 253 2 425 Tulumaksu kulu -26 0 -26 -2 0 ------------------------------------------------------------------------------- Aruandeperioodi puhaskasum 1 362 1 461 2 823 1 251 2 425 ------------------------------------------------------------------------------- Tava ja lahustatud puhaskasum aktsia kohta (eurodes) 0.01 0.02 0.03 0.02 0.04 Finantsseisundi aruanne, tuhandetes eurodes 30.06.2020 31.03.2020 31.12.2019 30.06.2019 ------------------------------------------------------------------------ Raha ja raha ekvivalendid 133 905 119 480 122 295 72 709 Võlainstrumendid 3 682 3 737 4 061 5 647 Laenud klientidele 559 295 504 119 460 460 380 642 Muud varad 24 948 25 341 24 486 22 538 ------------------------------------------------------------------------ Varad kokku 721 830 652 677 611 302 481 536 ------------------------------------------------------------------------ Klientide hoiused ja saadud laenud 615 153 547 398 506 531 409 036 Muud kohustised 7 381 7 696 8 356 7 064 Allutatud laenud 7 064 7 111 7 064 9 629 ------------------------------------------------------------------------ Kohustised kokku 629 598 562 205 521 951 425 729 ------------------------------------------------------------------------ Omakapital 92 232 90 472 89 351 55 807 ------------------------------------------------------------------------ Kohustised ja omakapital kokku 721 830 652 677 611 302 481 536 ------------------------------------------------------------------------ Coop Panga aruanded on leitavad aadressilt: https://www.cooppank.ee/aruandlus Coop Pank korraldab 2020. aasta II kvartali majandustulemuste tutvustamiseks veebiseminari 21. juulil 2020 kell 9.00. Osalemiseks palume eelnevalt registreeruda aadressil: https://attendee.gotowebinar.com/register/3808463495017686540 (https://www.globenewswire.com/Tracker?data=s65Xdwcl7pR96TkMUmg3yNJwXqs- 1otI7TkYIXwS8uXhkh7S8aTPsd2bajOXY8wE6RCceDQWMPOjmK7kmLvbcIhG5uxW8RMyHpvUgINHLwey 4ZLQN5KpmuCAVWvRbz8_WpOF7CiWBstFtlgxYos5k3bXVkIH9XKUaVZW8lnIoDP_PDIxMejmZH6aUka7 DJQREHFx8wkvXu5okUqOcUSFtw==) Veebiseminar salvestatakse ning avalikustatakse nii ettevõtte kodulehel www.cooppank.ee (https://www.globenewswire.com/Tracker?data=ysaYE2aduEcKrKAVh7DYM6LiE28UTJqD7xkd SPeY2t-8glSNNf3zmGgGz59--m-ZGdW8mZfR_aEVv-L5dz38qQ==) kui ka Nasdaq Balti youtube.com kontol. Eesti kapitalil põhinev Coop Pank on üks viiest Eestis tegutsevast universaalpangast. Pangal on 74 500 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 330 kauplust. Lisainfo: Kerli Lõhmus Finantsjuht Telefon: +372 669 0902 E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
Coop Pank unaudited financial results for Q2 2020
Message
In Q2 2020, the net loan portfolio of Coop Pank grew by EUR 55 million (+11%), reaching EUR 559 million. The business loans portfolio showed the fastest growth by increasing the volume by EUR 28 million (+16%), home loans portfolio increased by EUR 20 million (+10%), leasing portfolio EUR 5 million (+7%) and the consumer finance portfolio EUR 2 million (+3%). Compared to Q2 2019, the total loan portfolio of Coop Pank has grown by EUR 179 million, i.e. 47%. In Q2 2020, the volume of deposits in Coop Pank increased by EUR 68 million (+12%), reaching the total of EUR 615 million. The volume of bank's demand deposits grew by EUR 33 million (+20%), of which EUR 23 million came from bank's business clients and EUR 10 million from private individuals. Term deposits grew by EUR 35 million, major part of it - EUR 31 million - came via the international deposit-taking platform Raisin. In Q2, the volume of term deposits from domestic companies was EUR 3 million and EUR 1 million was taken from private clients. Coop Pank deposit portfolio has increased by EUR 206 million or 50% YoY. By the end of Q2, the share of client demand deposits has increased from 26% to 32% YoY. Bank's financing cost did not change significantly over the quarter and remained at the level on 1%. In Q2, the overdue loan portfolio of Coop Pank remained at the level of 7%. Resulting from the impact of restrictions imposed due to the spread of coronavirus on the economic environment, additional impairment of EUR 0.7 million was made to the loan portfolio. The loan impairment losses in Q2 2020 totalled EUR 1.7 million. The number of clients reached 74,500 by the end of Q2 2020, having increased by 5,100, i.e. 7% over the quarter. The number of private clients with current account in the bank increased by 4,600 and the number of business clients by 500 over the quarter. The client base of Coop Pank increased 44%, i.e. by 22,700 clients, year-on-year. Coop Pank's net income for Q2 2020 was EUR 7.5 million, having grown 33% YoY and 5% QoQ. Operating expense reached EUR 4.4 million in Q2, having increased by 11% YoY and decreased by 2% QoQ. Bank's net income in Q2 was EUR 3.1 million, having grown 83% YoY and 16% QoQ. In Q2 2020, the bank earned a net profit of EUR 1.4 million, showing the annual growth of 9% and a 7% decrease QoQ. The bank's cost / income ratio decreased from the 62% in Q1 2020 to 58% in the second quarter of this year. Coop Pank's ROE in Q2 2020 was 6%. As of 30 June, 2020, Coop Pank has 12,401 shareholders, 443 shareholders having joined over the quarter. Margus Rink, Chairman of the Management Board of Coop Pank, comments the results: ?This year's results have certainly been affected by the spread of the coronavirus and the restrictions imposed in the economic environment to prevent it. Despite of the difficult environment, we managed to make decent growth in business volumes. Over the first 6 months of 2020, the loan portfolio grew by almost EUR 100 million, which is about twice as much as in the same period a year ago. Business volumes, growing at an increasing rate, have boosted the bank's net interest income, the growth rate of which clearly exceeds the growth rate of expenses in the last two quarters. The decision taken at the end of Q1 to cut the bank's operating expenses and implement additional austerity measures ensured a 2% decrease in expenses in Q2 compared to Q1. The fast-pace revenue growth and lower expenses ensured a 78% increase in the bank's 6 M operating profit YoY. Undoubtedly, the impact of the change in the economic environment is not yet fully reflected in the bank's current results. At the end of Q1 and the beginning of Q2, we saw an increase in the number of customers' requests for payment leave and a slight decrease in the interest of private customers in financial products. From the second half of April, however, business volumes recovered. Although the quality of the loan portfolio has remained stable, we have formed additional provisions over the first 6 months of the year in the amount of EUR 1.1 million for balancing the negative impact of the economic environment. We have maintained a conservative approach in making impairments for the loan portfolio and will continue to do so. The addition of new private and corporate customers has led to a rapid growth in demand deposits. We can see that becoming a customer is followed by transferring one's income and receipts to a new bank account, and therefore the share of customers' demand deposits reached one third of the bank's total deposits by the end of the second quarter, which helps reduce financing costs in the long run. In the spring of this year, for the 11(th) time Kantar Emor conducted the survey of Estonian residents' favourite brands, according to which the bank's umbrella brand Coop reached number 3 in the standings, being one of the fastest top ten ascenders compared to the previous year. According to the survey company, the increase in the attractiveness of the Coop brand has been ensured by the clear image of the keeper and promoter of rural life. According to a survey, conducted by the agency Initiative in May this year, the spontaneous awareness of Coop Pank has also increased, reaching 62%. The increase of the bank's brand awareness and attractiveness creates rich ground for continuous rapid growth, it also confirms that the clients value the strength of Coop's strategy based on the synergy of retail and banking. One of the most important events of Coop Pank in Q2 2020 is the launch of a new service at the end of April, developed for the bank's private customers: the bank's mobile app allows to make and receive proxy payments, i.e. one can make a bank transfer by knowing only the phone number and name of another person. In May, Coop Pank started offering factoring services to companies, and at the beginning of June, Coop Leasing launched a car e-shop, aiming to make buying a car more convenient. Online car shop offers its customers a "one-stop shop" solution, allowing to select a car and the most appropriate financing and insurance solution at a single place. At the annual general meeting of shareholders held on 28 May, the shareholders of Coop Pank elected a new six- member supervisory board: Alo Ivask, chairman of the management board of Coop Eesti Keskühistu, was elected the chairman, Ardo Hansson, the former president of the Bank of Estonia, the vice chairman at the first supervisory board meeting held on 17 June, Jaan Marjundi, Raul Parusk, Roman Provotorov and Silver Kuus are members of the supervisory board. In June, Coop Pank started offering the possibility to use the data of the Estonian Tax and Customs Board for the transmission of job and income data when submitting loan applications, which makes applying for a loan more convenient and the client receives a response faster. Coop Pank can be characterised by the courage to lead banking in an innovative way, creating banking services that fit into the daily activities of our clients at the point where they need them. As a local bank, we make quick decisions and are flexible, thus contributing to the improvement of life in Estonia. We continue to implement our distinctive strategy, based on the integration between banking and retailing." Income statement, EUR thousand Q2 2020 Q1 2020 6M 2020 Q2 2019 6M 2019 ------------------------------------------------------------------------------- Net interest income 6 852 6 358 13 210 4 939 9 439 Net fee and commission income 477 521 998 606 1 157 Other net income 135 238 373 77 238 ------------------------------------------------------------------------------- Total net income 7 464 7 117 14 581 5 622 10 834 ------------------------------------------------------------------------------- Payroll expense -2 603 -2 662 -5 265 -2 355 -4 603 Marketing expense -201 -226 -427 -277 Rental and office expense, depreciation of tangible assets -552 -563 -1 115 -460 IT expenses and depreciation of intangible assets -565 -490 -1 055 -384 Other operating expense -434 -501 -935 -445 ------------------------------------------------------------------------------- Total operating expense -4 355 -4 442 -8 797 -3 921 ------------------------------------------------------------------------------- Net profit before impairment losses on loans and advances 3 109 2 675 5 784 1 701 10 834 Impairment losses on loans and advances -1 721 -1 214 -2 935 -448 Profit/loss before income tax 1 388 1 461 2 849 1 253 10 834 Income tax -26 0 -26 -2 ------------------------------------------------------------------------------- Net profit for the financial year 1 362 1 461 2 823 1 251 10 834 ------------------------------------------------------------------------------- Basic and diluted earnings per share (euros) 0.01 0.02 0.03 0.02 0.04 Balance sheet, EUR thousand 30.06.2020 31.03.2020 31.12.2019 30.06.2019 ------------------------------------------------------------------------ Cash and cash equivalents 133 905 119 480 122 295 72 709 Debt securities 3 682 3 737 4 061 5 647 Loans to customers 559 295 504 119 460 460 380 642 Other assets 24 948 25 341 24 486 22 538 ------------------------------------------------------------------------ Total assets 721 830 652 677 611 302 481 536 ------------------------------------------------------------------------ Customer deposits and loans received 615 153 547 398 506 531 409 036 Other liabilities 7 381 7 696 8 356 7 064 Subordinated debt 7 064 7 111 7 064 9 629 ------------------------------------------------------------------------ Total liabilities 629 598 562 205 521 951 425 729 ------------------------------------------------------------------------ Shareholder's equity 92 232 90 472 89 351 55 807 ------------------------------------------------------------------------ Total liabilities and equity 721 830 652 677 611 302 481 536 ------------------------------------------------------------------------ The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting Coop Pank will organise a webinar on 21 July, 2020 at 09:00 AM, to present the financial results of Q2 2020. For participation, please register in advance at: https://attendee.gotowebinar.com/register/3808463495017686540 (https://www.globenewswire.com/Tracker?data=s65Xdwcl7pR96TkMUmg3yNJwXqs- 1otI7TkYIXwS8uXhkh7S8aTPsd2bajOXY8wE6RCceDQWMPOjmK7kmLvbcIhG5uxW8RMyHpvUgINHLwey 4ZLQN5KpmuCAVWvRbz8_WpOF7CiWBstFtlgxYos5k3bXVkIH9XKUaVZW8lnIoDP_PDIxMejmZH6aUka7 DJQREHFx8wkvXu5okUqOcUSFtw==) The webinar will be recorded and published on the company's website www.cooppank.ee (http://www.cooppank.ee) as well as on the Nasdaq Baltic youtube.com channel. Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 74,500 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 330 stores. Additional information: Kerli Lõhmus CFO Phone: +372 669 0902 E-mail: [email protected] (mailto:[email protected])