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
Management interim statement or quarterly financial report
Unique data record identifier
8318
Attachments
Submission date and time
21.10.2020 08:00:00
Content of announcement in Estonian
Title
Coop Pank 2020. aasta III kvartali auditeerimata majandustulemused
Message
2020. aasta III kvartalis kasvas Coop Panga neto laenuportfell 40 miljoni euro võrra (+7%), ulatudes 599 miljoni euroni. Kiireimat kasvu näitas kodulaenude portfell, mille maht kasvas 19 miljoni euro võrra (+9%). Ärilaenude portfell kasvas 14 miljoni euro võrra (+7%), liisinguportfell 6 miljoni euro võrra (+7%) ja tarbimisfinantseerimise portfell kasvas 1 miljoni euro võrra (+2%). 2019. aasta III kvartaliga võrreldes on laenuportfell kasvanud 181 miljoni euro võrra ehk 43%. Coop Panga hoiuste maht kasvas 2020. aasta III kvartalis 73 miljoni euro võrra (+12%), ulatudes 688 miljoni euroni. Nõudmiseni hoiuste maht kasvas 34 miljoni euro võrra (+17%), millest 26 miljonit eurot tuli äriklientidelt ning 8 miljonit eraklientidelt. Tähtajaliste hoiuste maht kasvas III kvartalis 39 miljoni euro võrra: kodumaisetelt ettevõtetelt kaasati 17 miljonit eurot ja eraklientidelt kaasati 4 miljonit eurot ning rahvusvahelise hoiuste kaasamise platvormi Raisin kaudu kaasati 18 miljonit eurot. Võrreldes 2019. aasta III kvartaliga on Coop Panga hoiuste maht kasvanud 210 miljoni euro võrra ehk 44%. Klientide nõudmiseni hoiuste osakaal on suurenenud 27%-lt möödunud aasta III kvartali lõpus 34%-ni käesoleva aasta III kvartali lõpus. Panga finantseerimiskulu langes kvartaliga 1% pealt 0,9% peale. 2020. aasta III kvartalis oli Coop Panga viivises olev laenuportfell 6% tasemel. 9 kuuga on pank teinud 4,1 miljonit eurot provisjone, millest 1,1 miljonit eurot on tulenenud koroonaviiruse mõjudest majanduskeskkonnale. III kvartalis koroonaviirusega seoses eriprovisjone ei tehtud. 2020. aasta III kvartali lõpu seisuga on Coop Pangal 80 000 klienti, klientide arv kasvas kvartaliga 5 400 kliendi võrra ehk 7%. Arvelduskontot omavate eraklientide arv kasvas kvartaliga 4 800 ja äriklientide arv 600 võrra. Aastases võrdluses on panga kliendibaas kasvanud 42% ehk 24 000 kliendi võrra. Coop Panga netotulud olid 2020. aasta III kvartalis 8 miljonit eurot, tõustes kvartaalses võrdluses 7% ja aastases võrdluses 30%. Tegevuskulud ulatusid III kvartalis 4,7 miljoni euroni, kasvades kvartaalses võrdluses 9% ja aastases võrdluses 17%. Panga ärikasum oli III kvartalis 3,3 miljonit eurot, kasvades kvartaliga 5% ja aastaga 56%. Coop Pank teenis 2020. aasta III kvartalis 2 miljonit eurot puhaskasumit, kasv II kvartaliga võrreldes 48% ja aastaga 32%. Panga kulude ja tulude suhe oli III kvartalis 59% ja omakapitali tootlus 8,6%. Coop Pangal on 30.09.2020 seisuga 12 486 aktsionäri, kvartaliga on lisandunud 85 aktsionäri. Coop Panga juhatuse esimehe Margus Rinki kommentaar tulemustele: ?Kolmanda kvartali tulemused kinnitavad, et Coop jaekaubanduse ja panganduse integratsioonil põhinev pakkumine eristub turul, loob inimestele väärtust ning aitab seeläbi pangal kasvatada kliendibaasi. Klientide juurdekasv nii era- kui äriklientide segmendis on toonud kaasa kodumaisete hoiuste kiire kasvu. Kvartaliga kasvasid Coop Panga hoiused 73 miljoni euro võrra, millest kolm neljandikku ehk 55 miljonit eurot olid kohalikud hoiused. Madalate intressimäärade keskkonnas ja ebaselges majandusolukorras hoiavad ettevõtted likviidsuspuhvreid ning otsivad neile tootlust. Coop Panga pakkumine on toonud meie juurde hoiustama järjest rohkem kodumaised ettevõtted. Ettevõtete hoiuste maht pangas on aastaga pea kahekordistunud. Samuti kasvab panga nõudmiseni hoiuste osakaal, mis kolmanda kvartali lõpus oli 34% tõustes aastaga 7 protsendipunkti. Kodumaisete nõudmiseni hoiuste osakaalu kasv aitab langetada finantseerimiskulu, mis alanes 0,9%-ni. Kuigi koroonaviiruse leviku tõkestamiseks kehtestatud piirangud majandustegevusele on leevenenud, on ettevõtted ja eraisikud tuleviku osas ebakindlad. Ettevõtted on uute investeeringute tegemisel ettevaatlikud ning eraisikud lükkavad edasi suuremate kestvuskaupade ostuotsuseid. Eesti Panga andmetel on käesoleva aasta esimese kaheksa kuuga laenude ja liisingute uusmüük (v.a tarbimisfinantseerimine) vähenenud aasta varasemaga võrreldes 21%. Eriti paistab silma ettevõtete finantseerimisvajaduse nõudluse vähenemine, mis on langenud samal perioodil 25%. Sellest hoolimata on Coop Pank suutnud jätkata laenuportfelli ja tulude kasvatamist. 2020. aasta esimese 9 kuuga kasvas Coop Panga laenuportfell ligi 181 miljoni euro võrra. Suuremate ärimahtude toel kasvav neto intressitulu ja kodumaisete nõudmiseni hoiuste kasvu abil vähenev finantseerimiskulu aitab panka muuta järjest enam efektiivsemaks ning luua suuremat väärtust aktsionäridele. Panga kulu-tulu suhe on langenud 66%-lt eelmise aasta kolmandas kvartalis 59%-ni käesoleval aastal. Omakapitali tootlus võrreldes aastatagusega on küll madalam, kuid see on tingitud panga aktsiate avaliku pakkumise toel suurenenud omakapitalist. Võrreldes käesoleva aasta teise kvartaliga on omakapitali tootlus tõusnud 2,7 protsendipunkti võrra 8,6%-ni. Coop Panga laenuportfelli kvaliteet on jätkuvalt stabiilne. Viivises olevate lepingute osakaal püsib 6% tasemel. Koroonaviirusega seotud maksepuhkusel oleva laenuportfelli maht on alanenud maikuu 52 miljoni euro tasemelt 31 miljoni euroni septembri lõpus. Näeme, et ettevõtted ja eraisikud saavad oma kohustuste teenindamisega hästi hakkama ning maksepuhkuste pikendamist tuleb ette minimaalselt. Coop Panga 2020. aasta III kvartali olulisematest sündmustest saab esile tuua selle, et augusti lõpus kinnitas rahvusvaheline reitinguagentuur Moody´s meile stabiilse väljavaatega investeerimisjärgu reitingu tasemel Baa2. Investeerimisjärgu reiting annab nüüd ka Eesti riigile ja kohalikele omavalitsustele võimaluse tulla Coop Panga kliendiks ning hoida oma raha kodumaises finantsasutuses, kus maksame hoiustele turu parimat intressi. III kvartalis väärib esile toomist uudse internetipõhise autokaubamaja edukas arendamine: lisaks Shkoda mudelitele täiendasime augustis autokaubamaja valikut uute KIA mudelitega. Alates 1. juulist võimaldab Coop Pank oma klientidel kuni 100 000 euro suuruseid välkmakseid teha ja septembris avaldatud Eesti Panga statistika näitab, et Coop Panga klientide algatatud riigisisestest pankadevahelistest maksetest liikus välkmaksetena augustis 96%. Sellega olime augustis suurima välkmaksete osakaaluga pank Eestis. Juulis sai valmis ka meie uuenenud krediitkaart, millele lisandusid mitu head hüve, mis teevad sellest turu kõige paindlikuma krediitkaardi. III kvartalis tegime ka oma klientidele oluliselt mugavamaks lisakonto avamise: kui varem pidid kliendid selleks kontorit külastama, siis nüüd on võimalik endale lisakonto avada kiiresti ja lihtsalt internetipangas. Juulis otsustas Coop Panga nõukogu täiendada panga juhatust ühe liikme võrra, kelle vastutusvaldkonnaks saab erakliendipangandus. Uus juhatus on viieliikmeline ning lisaks juhatuse esimehele kuuluvad sinna finantsjuht, riskijuht, ärikliendipanganduse juht ja erakliendipanganduse juht. Kokkuvõtvalt saab öelda, et panga 2020. aasta 9 kuu tulemused vastavad igati käesoleva aasta alguses tehtud plaanile ning liigume börsile tulekul välja öeldud kolme aasta strateegiliste eesmärkide täitmise graafikus. Kohaliku pangana näeme turul oma eelisena, et suudame teha finantseerimisotsused kiirelt ning oleme paindlikumad. Jätkame jaekaubanduse ja panganduse integratsioonil põhineva eristuva strateegia elluviimist." Kasumiaruanne, tuhandetes eurodes III kv 2020 II kv 2020 9k 2020 III kv 2019 9k 2019 ------------------------------------------------------------------------------- Neto intressitulu 7 353 6 852 20 563 5 431 14 870 Neto teenustasutulu 558 477 1 557 540 1 697 Muud tulud, neto 77 135 450 159 396 ------------------------------------------------------------------------------- Netotulud kokku 7 988 7 464 22 570 6 130 16 963 ------------------------------------------------------------------------------- Tööjõukulud -2 844 -2 603 -8 109 -2 567 -7 169 Turunduskulud -168 -201 -595 -198 -688 Rendi- ja kontorikulud, materiaalse põhivara kulum -557 -552 -1 672 -627 -1 381 IT kulud ja immateriaalse põhivara kulum -632 -565 -1 687 -221 -1 057 Muud tegevuskulud -525 -434 -1 461 -426 -1 331 ------------------------------------------------------------------------------- Tegevuskulud kokku -4 726 -4 355 -13 524 -4 039 -11 626 ------------------------------------------------------------------------------- Kasum enne allahindluse kulu 3 262 3 109 9 046 2 091 5 337 Finantsvarade allahindluse kulu -1 139 -1 721 -4 074 -572 -1 393 Kasum/kahjum enne tulumaksu 2 123 1 388 4 972 1 519 3 944 Tulumaksu kulu -111 -26 -137 0 0 ------------------------------------------------------------------------------- Aruandeperioodi puhaskasum 2 012 1 362 4 835 1 519 3 944 ------------------------------------------------------------------------------- Tava puhaskasum aktsia kohta (eurodes) 0.02 0.01 0.05 0.02 0.07 Lahustatud puhaskasum aktsia kohta (eurodes) 0.02 0.01 0.05 0.02 0.06 Finantsseisundi aruanne, tuhandetes eurodes 30.09.2020 30.06.2020 31.12.2019 30.09.2019 ------------------------------------------------------------------------ Raha ja raha ekvivalendid 168 984 133 905 122 295 105 533 Võlainstrumendid 3 084 3 682 4 061 4 114 Laenud klientidele 599 213 559 295 460 460 417 907 Muud varad 26 179 24 948 24 486 23 744 ------------------------------------------------------------------------ Varad kokku 797 460 721 830 611 302 551 298 ------------------------------------------------------------------------ Klientide hoiused ja saadud laenud 688 116 615 153 506 531 477 826 Muud kohustised 7 978 7 381 8 356 9 015 Allutatud laenud 7 111 7 064 7 064 7 111 ------------------------------------------------------------------------ Kohustised kokku 703 205 629 598 521 951 493 952 ------------------------------------------------------------------------ Omakapital 94 255 92 232 89 351 57 346 ------------------------------------------------------------------------ Kohustised ja omakapital kokku 797 460 721 830 611 302 551 298 ------------------------------------------------------------------------ Coop Panga aruanded on leitavad aadressilt: https://www.cooppank.ee/aruandlus Coop Pank korraldab 2020. aasta III kvartali majandustulemuste tutvustamiseks veebiseminari 21. oktoobril 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 80 000 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 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 Q3 2020
Message
In Q3 2020, the net loan portfolio of Coop Pank grew by EUR 40 million (+7%), reaching EUR 599 million. The home loans portfolio showed the fastest growth by increasing the volume by EUR 19 million (+9%). The business loans portfolio increased by EUR 14 million (+7%), leasing portfolio EUR 6 million (+7%) and the consumer finance portfolio EUR 1 million (+2%). Compared to Q3 2019, the total loan portfolio of Coop Pank has grown by EUR 181 million, i.e. 43%. In Q3 2020, the volume of deposits in Coop Pank increased by EUR 73 million (+12%), reaching the total of EUR 688 million. The volume of bank's demand deposits grew by EUR 34 million (+17%), of which EUR 26 million came from bank's business clients and EUR 8 million from private individuals. Term deposits grew by EUR 39 million: EUR 17 million came from domestic companies, EUR 4 million came from private clients and EUR 18 million came via the international deposit- taking platform Raisin. Coop Pank deposit portfolio has increased by EUR 210 million or 44% YoY. By the end of Q3, the share of client demand deposits has increased from 27% to 34% YoY. Bank's financing cost did decrease over the quarter from 1% to 0,9%. In Q3 2020, the overdue loan portfolio of Coop Pank was at the level of 6%. In nine months, the bank has made impairment of EUR 4.1 million to the loan portfolio, including EUR 1.1 million has made due to the effect of the coronavirus to economic environment. There was no additional impairments made in relation to coronavirus in Q3. By the end of Q3 2020 we have reached 80,000 clients, number of clients have increased by 5,400, i.e. 7% over the quarter. The number of private clients with current account in the bank increased by 4,800 and the number of business clients by 600 over the quarter. The client base of Coop Pank increased 42%, i.e. by 24,000 clients YoY. In Q3 2020, Coop Pank's net income was EUR 8 million, having grown 7% QoQ and 30% YoY. Operating expenses reached EUR 4.7 million, having increased by 9% QoQ and by 17% YoY. The bank's operating profit was EUR 3.3 million, growing by 5% QoQ and 56% YoY. In Q3 2020, bank's net profit was EUR 2 million, having grown 48% QoQ and 32% YoY. In Q3 2020, the bank's cost / income ratio was 59% and ROE was 8.6%. As of 30 September, 2020, Coop Pank has 12,486 shareholders, 85 shareholders having joined over the quarter. Margus Rink, Chairman of the Management Board of Coop Pank, comments the results: "The results of the third quarter confirm that Coop's offer based on the integration of retail and banking is differentiated in the market, creates value for consumers and helps the bank to grow its client base. The growth of customer-base in both the retail and business segments has led to a rapid growth of domestic deposits. During the quarter, Coop Pank's deposits increased by 73 million euros, of which three quarters or 55 million euros were local deposits. In an environment of low interest rates and an uncertain economic situation, companies maintain liquidity buffers and seek returns for them. The offer of Coop Pank has brought more and more domestic companies to us to deposit their financial resources. The volume of corporate deposits in the bank has almost doubled in a year. The share of the bank's demand deposits is also growing, which was 34% at the end of the third quarter, rising by 7% year-on-year. The increase in the share of domestic demand deposits enables to reduce the cost of financing, which decreased to 0.9%. Although restrictions on economic activity to prevent the spread of the coronavirus have eased, businesses and private individuals are still uncertain about the future. Businesses are cautious about making new investments, and individuals postpone purchasing decisions for larger durable goods. According to Eesti Pank, in the first eight months of this year, new sales of loans and leasing (excluding consumer financing) have decreased by 21% compared to the previous year. The decline in the demand for corporate financing, which has fallen by 25% over the same period, is particularly noticeable. Nevertheless, Coop Pank has been able to continue to grow its loan portfolio and revenues. In the first 9 months of 2020, Coop Pank's loan portfolio grew by almost 181 million euros. Growing net interest income due to higher business volumes and declining financing costs through the growth of domestic demand deposits are helping to make the bank more efficient and create greater value for shareholders. The bank's cost-income ratio has declined from 66% in the third quarter of last year to 59% this year. The return on equity is lower than a year ago, but it is due to the increased equity supported by the public offering of the bank's shares. Compared to the second quarter of this year, the return on equity has increased by 2.7% to 8.6%. The quality of Coop Pank's loan portfolio remains stable. The share of overdue contracts remains at 6% level. The volume of the loan portfolio on payment leave related to the coronavirus has decreased from 52 million euros in May to 31 million euros at the end of September. We can see that businesses and private individuals are doing well in servicing their obligations and extending payment holidays is minimal. Most important highlight for Coop Pank in the third quarter was that at the end of August, the international rating agency Moody's gave us a stable investment grade rating of Baa2. The investment grade rating now also gives the Estonian state and local governments the opportunity to become a customer of Coop Pank and keep their financial resources in a domestic financial institution, where we pay the best interest on the market. In the third quarter, the successful development of a new internet-based car dealership is worth highlighting: in addition to new Shkoda models, we supplemented the car dealer's selection with new KIA models in August. From 1(st) of July, Coop Pank will allow its customers to make instant payments of up to 100,000 euros, and Eesti Pank's statistics published in September shows that 96% of domestic interbank payments initiated by Coop Pank's customers were instant payments in August. With this, we were the bank with the largest share of instant payments in Estonia in August. Our renewed credit card was also completed in July, with several good benefits that make it the most flexible credit card on the market. In the third quarter, we also made it significantly more convenient for our customers to open an additional account: if previously customers had to visit the office, now it is possible to open an additional account quickly and easily in the Internet bank. In July, the Supervisory Board of Coop Pank decided to supplement the Management Board of the Bank by one member, whose area of ??responsibility will be retail banking. The new Management Board has five members and, in addition to the Chairman of the Management Board, includes the Chief Financial Officer, the Risk Manager, the Head of Corporate Banking and the Head of Retail Banking. In summary, it can be said that the bank's results for the first 9 months of 2020 fully correspond to the plan made at the beginning of this year, and we are moving in the schedule of meeting the three-year strategic goals announced during IPO of Coop Pank in 2019. As a local bank, we see in the market as our advantage that we can make financing decisions quickly and are more flexible. We will continue to pursue a distinctive strategy based on the integration of retail and banking." Income statement, in thousands of euros Q3 2020 Q2 2020 9M 2020 Q3 2019 9M 2019 ------------------------------------------------------------------------------- Net interest income 7 353 6 852 20 563 5 431 14 870 Net fee and commission income 558 477 1 557 540 1 697 Net other income 77 135 450 159 396 ------------------------------------------------------------------------------- Total net income 7 988 7 464 22 570 6 130 16 963 ------------------------------------------------------------------------------- Payroll expenses -2 844 -2 603 -8 109 -2 567 -7 169 Marketing expenses -168 -201 -595 -198 -688 Rental and office expenses, depreciation of tangible assets -557 -552 -1 672 -627 -1 381 IT expenses and depreciation of intangible assets -632 -565 -1 687 -221 -1 057 Other operating expenses -525 -434 -1 461 -426 -1 331 ------------------------------------------------------------------------------- Total operating expenses -4 726 -4 355 -13 524 -4 039 -11 626 ------------------------------------------------------------------------------- Net profit before impairment losses 3 262 3 109 9 046 2 091 5 337 Impairment losses on financial assets -1 139 -1 721 -4 074 -572 -1 393 Net profit before income tax 2 123 1 388 4 972 1 519 3 944 Income tax expenses -111 -26 -137 0 0 ------------------------------------------------------------------------------- Net profit for the financial year 2 012 1 362 4 835 1 519 3 944 ------------------------------------------------------------------------------- Basic earnings per share (in euros) 0.02 0.01 0.05 0.02 0.07 Diluted earnings per share (in euros) 0.02 0.01 0.05 0.02 0.06 Statement of financial position, in thousands of euros 30.09.2020 30.06.2020 31.12.2019 30.09.2019 ------------------------------------------------------------------------ Cash and cash equivalents 168 984 133 905 122 295 105 533 Debt securities 3 084 3 682 4 061 4 114 Loans to customers 599 213 559 295 460 460 417 907 Other assets 26 179 24 948 24 486 23 744 ------------------------------------------------------------------------ Total assets 797 460 721 830 611 302 551 298 ------------------------------------------------------------------------ Customer deposits and loans received 688 116 615 153 506 531 477 826 Other liabilities 7 978 7 381 8 356 9 015 Subordinated debt 7 111 7 064 7 064 7 111 ------------------------------------------------------------------------ Total liabilities 703 205 629 598 521 951 493 952 ------------------------------------------------------------------------ Equity 94 255 92 232 89 351 57 346 ------------------------------------------------------------------------ Total liabilities and equity 797 460 721 830 611 302 551 298 ------------------------------------------------------------------------ The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting Coop Pank will organise a webinar on 21 October, 2020 at 09:00 AM, to present the financial results of Q3 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 80,000 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 330 stores. Additional information: Kerli Lõhmus CFO Phone: +372 669 0902 E-mail: [email protected] (mailto:[email protected])