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
Annual financial report
Unique data record identifier
9310
Attachments
Submission date and time
10.02.2022 08:00:00
Content of announcement in Estonian
Title
Coop Pank 2021. aasta IV kvartali ja 12 kuu auditeerimata majandustulemused
Message
Coop Pank kasvatas 2021. aastal viiendat tegutsemisaastat järjest ärimahtusid 40%. Coop Panga klientide arv ulatus 2021. aasta lõpu seisuga 114 600 kliendini, kasvades aastaga 27 900 võrra (+32%). Võrdluseks: 2017. aastal lisandus 5000, 2018. aastal 9000, 2019. aastal 19 000, 2020. aastal 23 000 uut klienti. 2021. aastal liitus 25 400 eraklienti ja 2500 äriklienti. 2021. aasta lõpu seisuga ulatus Coop Panga hoiuste maht 1,1 miljardi euroni, kasvades aastaga 341 miljoni euro võrra (+45%). Nõudmiseni hoiused kasvasid aastaga 71% ja tähtajalised hoiused 27%. Tänu kodumaiste hoiuste, sealhulgas nõudmiseni hoiuste osakaalu kasvule portfellis, on panga finantseerimiskulu langenud 0,7% tasemele. Panga hoiuste turuosa kasvas aastaga 3,2% pealt 4% peale. Coop Panga laenuportfell ulatus 2021. aasta lõpu seisuga 953 miljoni euroni, kasvades aastaga 283 miljoni euro võrra (+42%). Äriliinidest näitasid aastaga suurimat kasvu ärilaen ja kodulaen: ärilaenu portfell kasvas 166 miljonit eurot (+64%) ja kodulaenu portfell 102 miljonit eurot (+39%). Liisingu portfell kasvas 14 miljonit (+17%) ja tarbimisfinantseerimise portfell kasvas 1 miljon eurot (+1%). Panga laenude turuosa kasvas aastaga 3,4% pealt 4,4% peale. Laenuportfelli kvaliteet püsis 2021. aastal väga hea. Võimalike laenukahjumite katteks moodustati 2021. aastal 2,5 miljonit eurot provisjone. Krediidiriski kulumäär oli 0,3%, samas kui 2020. aastal oli see 0,8%. Panga tulud ulatusid 2021. aastal 39 miljoni euroni, kasvades aastaga 8 miljonit eurot (+26%). Suurima panuse tulude kasvu andsid neto intressitulud, mis kasvasid aastaga 7,2 miljonit eurot (+25%). Väga head kasvu näitasid ka neto teenustasutulud, mis kasvasid aastaga 1 miljon eurot (+47%). Panga tegevuskulud ulatusid 22 miljoni euroni, kasvasid aastaga 3,7 miljonit eurot (+19%). Suurimat mõju omas infotehnoloogiaga seotud kulude kasv, mis aasta varasemaga võrreldes kasvas 1 miljoni võrra (+41%), personalikulud kasvasid aastaga 1,4 miljonit (+13%). Coop Panga puhaskasum oli 2021. aastal 13,5 miljoni eurot, kasvades aastaga 85%. Panga kulu-tulu suhe langes aastaga 60% pealt 57% tasemele ja omakapitali tootlus tõusis 7,8% pealt 12,9% tasemele. Coop Pangal on 31.12.2021 seisuga 27 799 aktsionäri, aastaga on lisandunud 14 932 aktsionäri. IV kvartali tulemused 2021. aasta IV kvartalis kasvas panga klientide arv 7000 kliendi võrra, neist 6200 olid erakliendid ja 800 ärikliendid. Aasta lõpu seisuga oli Coop Pangal 114 600 igapäevapanganduse klienti. Hoiuste maht kasvas kvartaliga 112 miljoni euro võrra (+11%) ja ulatus aasta lõpuks 1,1 miljardi euroni. Kvartaliga kasvas nõudmiseni hoiuste maht 61 miljonit eurot ja tähtajaliste hoiuste maht 51 miljonit eurot. Kohalikke tähtajalisi hoiuseid lisandus kvartaliga era- ja äriklientidelt 67 miljonit eurot, rahvusvahelistelt hoiuseplatvormidelt kaasatud hoiused vähenesid 16 miljoni euro võrra. Panga neto laenuportfell kasvas kvartaliga 99 miljoni euro võrra (+12%), jõudes aasta lõpuks 953 miljoni euroni. Ärilaenude maht kasvas kvartaliga 60 miljonit eurot, kodulaenude maht 29 miljonit eurot, liising 6 miljonit eurot ning tarbimisfinantseerimine 4 miljonit eurot. Pank teenis 2021. aasta IV kvartalis 3,3 miljonit eurot kasumit, mis on 23% vähem, kui III kvartalis ja 36% rohkem, kui eelmisel aastal samal perioodil. Kvartaalset kasumlikkust mõjutasid enim laenuportfelli kasvust tingitud provisjonid. Coop Panga juhatuse esimehe Margus Rinki kommentaar tulemustele: ?2021. aasta oli Eesti majanduses toibumise ja väga kiire kasvu aasta: SKP ja palgad kasvasid, klientide kindlustunne oli hea ning tööpuudus vähenes. Eesti SKP kasv on olnud Euroopa riikide seas üks kiiremaid ja kasvanud isegi võrreldes 2019. aastaga ehk võrreldes pandeemia eelse ajaga. Samas jääb meid 2021. aastast saatma jätkuv tervisekriis, kiiresti tõusvad kinnisvarahinnad, tarneahela probleemidest tingitud uute autode ja muude seadmete piiratud kättesaadavus, II samba pensionirahade turule tulek ning mitmekordselt kasvanud energiahinnad. Nendes muutlikes oludes on Coop Pank kiire tegutsemise ja paindlikkusega suutnud edukalt ellu viia oma kasvustrateegiat, kasvatades oma ärimahte keskmiselt 40% aastas ning seda juba viiendat aastat järjest. Coop Panga jalajälg Eesti majandusruumis, pangandusturul ja inimeste igapäevaelus üha suureneb. 2021. aasta alguses tõime turule Coop Panga esimesed allutatud võlakirjad, millega kaasasime kasvuks 10 miljonit eurot kapitali. Pakkumaks klientidele parimat panganduskogemust, uuendasime kevadel erakliendi igapäevapanganduse pakkumist, mille käigus kaotasime maksete teenustasu, tõime turule tasuta arvelduspaketi ning mitmed kindlustuslahendused, näiteks kuutasupõhise COVID-kindlustuskaitsega reisikindlustuse ning lisasime kõigile Coop Panga eraisiku pangakaartidele tasuta ostukindlustuse. Suvel tähistasime oma kliendibaasi kasvamist 100 000 kliendini. See oli üks viiest strateegilisest eesmärgist, mida lubasime börsile tulles saavutada hiljemalt 2022. aasta lõpuks ja mille me täitsime poolteist aastat varem. Ühtlasi näeme, et 2021. aastal tegi suure tõusu ka meie klientide aktiivsus: üha rohkem era- ja ärikliente üle Eesti kasutab meie teenuseid igapäevaselt ja nimetab meid oma kodupangaks. Sellest lähtuvalt kasvasid aastaga just kodumaised nõudmiseni hoiused ning oleme jätkuvalt vähendamas rahvusvaheliste hoiuste vahendusplatvormide kaudu kaasatatud kallimaid tähtajalisi hoiuseid. See võimaldas aasta varem täita ka teise börsile tulles antud lubaduse: panga finantseerimiskulu langes 0,7% tasemele. Kasvav kohalik hoiustebaas ja alanenud finantseerimiskulu võimaldab meil üha aktiivsemalt osaleda äri- ja eraklientide laenuturul. Lõpetasime aasta 953 miljoni eurose laenuportfelliga ja oleme väga lähedal, et täita ka kolmas eesmärk: 1 miljardi suurune laenuportfell, mida lubasime börsile tulles investoritele 2022. aasta lõpuks saavutada. Ärimahtude jätkuv kasv on toonud kaasa oodatud mastaabiefekti, mis tähendab, et Coop Panga tulud kasvavad kiiremini kui kulud. Meie laenuportfelli kvaliteet oli viie aasta parim: võlas oleva portfelli osatähtsus ulatus vaid 2%-ni. Kõige selle tulemusena paranesid aastaga meie olulisemad tulemusnäitajad: kasum kasvas 13,5 miljoni euroni, kulu-tulu suhe langes 57% peale ning omakapitali tootlus kasvas 12,9% tasemele. Meie head töö tulemused kajastusid 2021. aastal ka aktsiahinna ja aktsionäride arvu kasvus. Coop Panga aktsionäride arv on aastaga enam kui kahekordistunud ja oleme praegu aktsionäride arvult Eesti kolmas börsiettevõte. Klientide ja aktsionäride kõrval rõõmustasime möödunud aastal ka oma töötajaid, kolides sügisel panga peakontori Tallinnas Maakri ärikvartalis asuvasse vastvalminud ja kaasaegsesse Skyoni ärimajja. Siin töötab üle 80% Coop Panga enam kui 300 töötajast. Uus võimalusterohke ja LEED energiatõhususe sertifikaadiga peamaja toetab meie jätkuvat kasvuambitsiooni ning jätkusuutlikkuse eesmärkide poole pürgimist, sh aitab vähendada meie süsiniku jalajälje suurust. Täitsime 2021. aastal kõik endale seatud eesmärgid ja investorile antud lubadused ning jätkame meile seni edu toonud strateegiaga, ent veelgi suurema ambitsiooniga. Järgmise viie aasta jooksul, täpsemalt 2027. aasta alguseks, on meie strateegiline eesmärk kasvatada Coop Panga turuosa Eestis 10%-ni ja laenuportfell 2 miljardi euroni ning jõuda seeläbi positsioonile, kus iga kümnes eestimaalane arveldab Coop Pangas - see tähendab vähemalt 150 000 arveldavat klienti. Ärimahtude kasvatamise tulemusena seab pank eesmärgiks saavutada suurem efektiivsus (kulu/tulu suhe alla 50%) ning pakkuda aktsionäridele kõrgemat omakapitali tootlust (ROE vähemalt 15%)." Kasumiaruanne, tuhandetes eurodes IV kv 2021 III kv 2021 IV kv 2020 12k 2021 12k 2020 ------------------------------------------------------------------------------- Neto intressitulu 9 824 9 345 7 808 35 538 28 371 Neto teenustasutulu 902 752 540 3 085 2 097 Muud tulud, neto -50 230 171 615 621 ------------------------------------------------------------------------------- Netotulud kokku 10 676 10 327 8 519 39 238 31 089 ------------------------------------------------------------------------------- Tööjõukulud -3 182 -3 364 -2 976 -12 490 -11 085 Turunduskulud -332 -296 -350 -1 247 -945 Rendi- ja kontorikulud, materiaalse põhivara kulum -980 -667 -539 -2 802 -2 211 IT kulud ja immateriaalse põhivara kulum -1 013 -893 -767 -3 455 -2 454 Muud tegevuskulud -698 -568 -640 -2 459 -2 101 ------------------------------------------------------------------------------- Tegevuskulud kokku -6 205 -5 788 -5 272 -22 453 -18 796 ------------------------------------------------------------------------------- Kasum enne allahindluse kulu 4 471 4 539 3 247 16 785 12 293 Finantsvarade allahindluse kulu -963 -10 -715 -2 497 -4 789 Kasum/kahjum enne tulumaksu 3 508 4 529 2 532 14 288 7 504 Tulumaksu kulu -213 -227 -108 -825 -245 ------------------------------------------------------------------------------- Aruandeperioodi puhaskasum 3 295 4 302 2 424 13 463 7 259 ------------------------------------------------------------------------------- Tava puhaskasum aktsia kohta (eurodes) 0,04 0,05 0,03 0,15 0,08 Lahustatud puhaskasum aktsia kohta (eurodes) 0,04 0,05 0,03 0,15 0,08 Finantsseisundi aruanne, tuhandetes eurodes 31.12.2021 30.09.2021 31.12.2020 -------------------------------------------------------------- Raha ja raha ekvivalendid 252 799 239 735 170 750 Võlainstrumendid 5 932 3 573 3 011 Laenud klientidele 953 396 854 234 670 593 Muud varad 29 849 32 965 25 555 -------------------------------------------------------------- Varad kokku 1 241 976 1 130 507 869 909 -------------------------------------------------------------- Klientide hoiused ja saadud laenud 1 098 746 986 777 757 835 Muud kohustised 14 423 18 233 7 443 Allutatud laenud 17 064 17 111 7 064 -------------------------------------------------------------- Kohustised kokku 1 130 233 1 022 121 772 342 -------------------------------------------------------------- Omakapital 111 743 108 386 97 567 -------------------------------------------------------------- Kohustised ja omakapital kokku 1 241 976 1 130 507 869 909 -------------------------------------------------------------- Coop Panga aruanded on saadaval aadressil: https://www.cooppank.ee/aruandlus Coop Pank korraldab majandustulemuste tutvustamiseks veebiseminari 10. veebruaril 2022. kell 11.00. Osalemiseks palume eelnevalt registreeruda aadressil: https://zoom.us/webinar/register/WN_MAwRZHFmRNqWtNG0Sq02aA Veebiseminar salvestatakse ja avalikustatakse Coop Panga kodulehel www.cooppank.ee (https://www.globenewswire.com/Tracker?data=ysaYE2aduEcKrKAVh7DYM6LiE28UTJqD7xkd SPeY2t-8glSNNf3zmGgGz59--m-ZGdW8mZfR_aEVv-L5dz38qQ==) ja YouTube'i kontol. Eesti kapitalil põhinev Coop Pank on üks viiest Eestis tegutsevast universaalpangast. Pangal on 114 600 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 330 kauplust. Lisainfo: Margus Rink Juhatuse esimees E-post: [email protected]
Content of announcement in English
Title
Unaudited financial results of Coop Pank for Q4 and 12 months of 2021
Message
In 2021, Coop Pank increased its business volumes by 40% for the fifth consecutive year. By the end of 2021, the number of Coop Pank's customers reached 114,600, over the year the number of customers increased by 27,000 (+32%). For comparison: 5,000 new customers were gained in 2017, 9,000 in 2018, 19,000 in 2019 and 23,000 in 2020. In 2021, the number of private customers increased by 25,400 and the number of corporate customers by 2,500. Deposits of Coop Pank reached 1,1 billion euros by the end of 2021, increased by 341 million euros (+45%) over the year. Demand deposits grew by 71% over the year and term deposits by 27%. Due to the increase in the share of domestic deposits in the portfolio, including demand deposits, the bank's financing costs decreased to 0.7%. The market share of the bank's deposits increased from 3.2% to 4% over the year. Loan portfolio of Coop Pank reached 953 million euros by the end of 2021, increased by 283 million euros (+42%) over the year. Of all the business lines, the greatest growth was shown by corporate loan portfolio and home loan portfolio: the corporate loan portfolio increased by 166 million euros (+ 64%) and the home loan portfolio by 102 million euros (39%). The leasing portfolio increased by 14 million (+17%) and the consumer finance portfolio increased by 1 million euro (+1%). The market share of the bank's loans increased from 3,4% to 4,4%over the year. In 2021, the quality of the loan portfolio remained very good. To cover possible loan losses, 2.5 million euros provisions were made in 2021. The cost ratio for credit risk was 0.3%, while in 2020 it was 0.8%. The income of Coop Pank reached 39 million euros, increased by 8 million euros (+26%) over the year. The largest contribution to revenue growth was made by net interest income, which increased by 7.2 million euros (+25%) over the year. Net fees and commission income also showed very good growth, increased by 1 million euros (+47%) over the year. The bank's operating cost reached 22 million euros, increased by 3.7 million euros (+19%) over the year. The biggest impact to the operating cost was the increase of IT-related expenses, which increased by 1 million (+41%), while personnel expenses increased by 1.4 million euros (+13%) over the year. Net profit of Coop Pank in 2021 was 13.5 million euros, increased by 85% over the year. The bank's cost / income ratio fell from 60% to 57% over the year and the return on equity rose from 7.8% to 12.9%. As of 31 December 2021, Coop Pank has 27,799 shareholders, over the year the number of shareholders increased by 14,932. Results in Q4 In Q4 2021, the number of the bank's customers increased by 7,000, of which 6,200 were private customers and 800 were corporate customers. By the end of the year 2021, Coop Pank had 114,600 daily banking customers. The volume of deposits increased by 112 million euros (+11%), in Q4 2021 and reached 1.1 billion euros by the end of the year. Over the quarter, the volume of demand deposits increased by 61 million euros and the volume of term deposits by 51 million euros. Local term deposits from private and corporate customers increased by 67 million euros, while deposits from international deposit platforms decreased by 16 million euros. The bank's net loan portfolio grew by 99 million euros (+12%) over the quarter, reaching 953 million euros by the end of the year. The volume of corporate loans increased by 60 million euros, the volume of home loans by 29 million euros, leasing by 6 million euros and consumer financing by 4 million euros. In Q4 2021, Coop Pank earned a profit of 3.3 million euros, which is 23% less than in Q3 and 36% more than in the same period last year. The quarterly profitability was mostly affected by provisions made due to the growth of the loan portfolio. Comments of the CEO of Coop Pank Margus Rink: "2021 was a year of recovery and very rapid growth in the Estonian economy: GDP and wages showed growth, consumer confidence was good and unemployment rate dropped. Estonia's GDP growth has been one of the fastest in Europe and has even grown compared to 2019, which was before the pandemic. At the same time, in 2021 we were accompanied by a continuing health crisis, with rapidly rising real estate prices, supply chain problems, which led to the limited availability of new cars and other equipment, the second pillar pension funds entry into the market and multiple times increased energy prices. In these constantly changing circumstances, Coop Pank has been able to successfully implement its growth strategy with rapid action and flexibility, growing its business volumes by an average of 40% per year for the fifth year in a row. Coop Pank's footprint is growing in the Estonian economy, in the local banking market and in people's daily lives. At the beginning of 2021, we launched the first subordinated bonds of Coop Pank, with which we raised 10 million euros of capital for growth. In order, to offer our customers best banking experience, we renewed our daily banking offer in the spring, eliminating payment service fees, launching a free banking plan package and innovative insurance solutions such as monthly paid COVID-19 travel insurance and adding free purchase insurance to all Coop Pank's private customers bank cards. In the summer, we celebrated the growth of our customer base to 100,000 customers. This was one of the five strategic goals that we promised to achieve by the end of 2022 at the latest, and that we had met a year and a half earlier. We also see that in 2021, the activity of our customers increased: more and more people and businesses across Estonia use our services on daily basis and call us their home bank. As a result, domestic demand deposits grew during the year, and we continued to reduce the more expensive term deposits attracted through international deposit platforms. This also allowed us to meet the second target a year earlier then we promised: the bank's funding costs fell to 0.7%. The growing local deposit portfolio and reduced financing costs allow us to participate more and more actively in the corporate and retail loan market. We ended the year with a loan portfolio of 953 million euros and we are very close to fulfilling the third promise made to investors: a loan portfolio of 1 billion euros by the end of 2022. The continued growth in business volumes has led to the expected economies of scale, which means that Coop Pank's revenues are growing faster than expenses. The quality of our loan portfolio was the best in five years: the share of the debt portfolio reached only 2%. As a result, our key performance indicators improved over the year: profit rose to 13.5 million euros, cost / income ratio fell to 57% and return on equity rose to 12.9% level. Our good performance in 2021 was also reflected in the share price and growing number of shareholders. The number of the Coop Pank's shareholders has more than doubled in a year and we are currently the third listed company in Estonia by the number of shareholders. In addition to our customers and shareholders, last year we also delighted our employees by moving the bank's head office to the newly built and modern Skyon business building in Maakri business district in Tallinn. Here works over 80% of Coop Pank's more than 300 employees. The new high-capacity, LEED-certified headquarters will support our continued ambition for growth and sustainability, including reducing our carbon footprint. In 2021, we met all our goals and promises to our investors, and we will continue with the strategy that has brought us success, but from now on we do it with even greater ambition. Over the next five years, more precisely by the beginning of 2027, our strategic goal is to increase the Coop Pank's market share in Estonia to 10% and loan portfolio approximately to 2 billion euros, and thus reach a position where every tenth Estonian settles at Coop Pank - that is, at least 150,000 settled customers. As a result of increasing business volumes, the bank aims to achieve better efficiency (cost-income ratio less than 50%) and to offer shareholders a higher return on equity (ROE at least 15%)." Income statement, in thousands of euros Q4 2021 Q3 2021 Q4 2020 12M 2021 12M 2020 ------------------------------------------------------------------------------- Net interest income 9 824 9 345 7 808 35 538 28 371 Net fee and commission income 902 752 540 3 085 2 097 Net other income -50 230 171 615 621 ------------------------------------------------------------------------------- Total net income 10 676 10 327 8 519 39 238 31 089 ------------------------------------------------------------------------------- Payroll expenses -3 182 -3 364 -2 976 -12 490 -11 085 Marketing expenses -332 -296 -350 -1 247 -945 Rental and office expenses, depreciation of tangible assets -980 -667 -539 -2 802 -2 211 IT expenses and depreciation of intangible assets -1 013 -893 -767 -3 455 -2 454 Other operating expenses -698 -568 -640 -2 459 -2 101 ------------------------------------------------------------------------------- Total operating expenses -6 205 -5 788 -5 272 -22 453 -18 796 ------------------------------------------------------------------------------- Net profit before impairment losses 4 471 4 539 3 247 16 785 12 293 Impairment costs on financial assets -963 -10 -715 -2 497 -4 789 Net profit before income tax 3 508 4 529 2 532 14 288 7 504 Income tax expenses -213 -227 -108 -825 -245 ------------------------------------------------------------------------------- Net profit for the financial year 3 295 4 302 2 424 13 463 7 259 ------------------------------------------------------------------------------- Basic earnings per share (in euros) 0,04 0,05 0,03 0,15 0,08 Diluted earnings per share (in euros) 0,04 0,05 0,03 0,15 0,08 Statement of financial position, in thousands of euros 31.12.2021 30.09.2021 31.12.2020 -------------------------------------------------------------- Cash and cash equivalents 252 799 239 735 170 750 Debt securities 5 932 3 573 3 011 Loans to customers 953 396 854 234 670 593 Other assets 29 849 32 965 25 555 -------------------------------------------------------------- Total assets 1 241 976 1 130 507 869 909 -------------------------------------------------------------- Customer deposits and loans received 1 098 746 986 777 757 835 Other liabilities 14 423 18 233 7 443 Subordinated debt 17 064 17 111 7 064 -------------------------------------------------------------- Total liabilities 1 130 233 1 022 121 772 342 -------------------------------------------------------------- Equity 111 743 108 386 97 567 -------------------------------------------------------------- Total liabilities and equity 1 241 976 1 130 507 869 909 -------------------------------------------------------------- The reports of Coop Pank are accessible at: https://www.cooppank.ee/aruandlus. Coop Pank will hold an Investor Webinar for the introduction of its financial results, which is scheduled at 11:00 on 10 February 2022. To participate, please register in advance via the following link: https://zoom.us/webinar/register/WN_MAwRZHFmRNqWtNG0Sq02aA The webinar will be recorded and posted on the company's website www.cooppank.ee (https://www.globenewswire.com/Tracker?data=ysaYE2aduEcKrKAVh7DYM6LiE28UTJqD7xkd SPeY2t-8glSNNf3zmGgGz59--m-ZGdW8mZfR_aEVv-L5dz38qQ==) and YouTube account. Coop Pank, which is based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 114,600 everyday banking customers. 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 owner of the bank is the local retail chain Coop Estonia, which has a sales network of 330 stores. Further information: Margus Rink Chief Executive Office Email: [email protected]