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
9474
Attachments
Submission date and time
20.04.2022 08:00:00
Content of announcement in Estonian
Title
Coop Pank 2022. aasta I kvartali auditeerimata majandustulemused
Message
2022. aasta I kvartali lõpu seisuga oli Coop Pangal 122 400 klienti, klientide arv kasvas kvartaliga 7800 kliendi võrra (+7%). Arveldavaid klientide oli pangal 54 200, kvartaliga kasvas arveldavate klientide arv 3200 võrra (+6%). Coop Panga hoiuste maht kasvas 2022. aasta I kvartalis 50 miljoni euro võrra (+5%), ulatudes 1,15 miljardi euroni. Kiireimat kasvu näitas äriklientide hoiuste portfell, mille maht kasvas 78 miljoni võrra, millest 42 miljonit olid nõudmiseni hoiused ja 36 miljonit tähtajalised hoiused. Eraklientide hoiuste maht kasvas 11 miljoni euro võrra, nõudmiseni hoiused kasvasid 15 miljoni euro võrra ja tähtajalised hoiused kahanesid 4 miljoni euro võrra. Rahvusvahelise hoiuste kaasamise platvormi Raisin hoiused ja muu finantseering vähenes 39 miljoni euro võrra. Võrreldes 2021. aasta I kvartaliga on Coop Panga hoiuste maht kasvanud 300 miljoni euro võrra (+35%). Aastases võrdluses on panga nõudmiseni hoiuste osakaal kõigist hoiustest tõusnud 39% pealt 50% peale. 2022. I kvartalis oli finantseerimiskulu 0,5%, eelmisel aastal samal ajal 0,8%. 2022. aasta I kvartalis kasvas Coop Panga neto laenuportfell 87 miljoni euro võrra (+9%), ulatudes 1,04 miljardi euroni. Kiireimat kasvu näitas ärilaenude portfell, mille maht kasvas 45 miljoni euro võrra (+10%). Kodulaenude portfell kasvas 32 miljoni euro võrra (+9%), liisinguportfell kasvas 7 miljoni euro võrra (+8%) ja tarbimisfinantseerimise portfell kasvas 3 miljoni euro võrra (+4%). 2021. aasta I kvartaliga võrreldes on laenuportfell kasvanud 344 miljoni euro võrra (+50%). 2022. aasta I kvartalis püsis Coop Panga viivises olev laenuportfell kolmandat kvartalit järjest 2% tasemel. Aastases võrdluses on viivises oleva laenuportfelli maht langenud 3% tasemelt 2% tasemele. Finantsvarade allahindluse kulu oli 2022. aasta I kvartalis 1,5 miljonit eurot, mida on 0,7 miljonit eurot (+94%) rohkem kui oli 2021 I kvartalis. Coop Panga netotulud olid 2022. aasta I kvartalis 11,5 miljonit eurot, tõustes kvartaalses võrdluses 8% ja aastases võrdluses 29%. Tegevuskulud ulatusid I kvartalis 6,2 miljoni euroni - kvartaalses võrdluses tegevuskulud ei kasvanud, aastases võrdluses kasvasid tegevuskulud 21%. Coop Pank teenis 2022. aasta I kvartalis 3,5 miljonit eurot puhaskasumit, mis on 6% suurem kui eelmises kvartalis ja 23% rohkem kui aasta tagasi. Panga kulude ja tulude suhe oli I kvartalis 54% ja omakapitali tootlus 12,3%. Coop Pangal on 31.03.2022 seisuga 29 862 aktsionäri, kvartaliga lisandus 2063 (+7%) aktsionäri. Coop Panga juhatuse esimehe Margus Rinki kommentaar tulemustele: ?Käesoleva aasta esimeses kvartalis ületas Coop Panga laenuportfell ühe miljardi euro piiri. See oli üks viiest eesmärgist, mille seadsime endale 2019. aasta sügisel börsile tulles ning lubasime investoritele täita hiljemalt 2022. aasta lõpuks. Eraisikute finantseerimisel nägime tugevat nõudlust läbi kvartali ja veebruari lõpus alanud sõda Ukrainas ei ole senini eraisikute laenunõudlusele mõju avaldanud. Ettevõtete finantseerimise suunal tegime ühe läbi aegade tugevaima kvartali. Samas näeme, et kestev sõda on avaldanud mõju ettevõtjate kindlustundele. Teadmatus tuleviku osas, toorme kättesaadavuse halvenemine, energiakandjate hinnatõus, jätkuvad tarneahelate tõrked - kõik see sunnib ettevõtjaid oma tehtud investeerimisplaane ümber hindama ja korrigeerima. Eelnevast lähtuvalt kajastub meie kvartalitulemustes ka erakorraline provisjon sõja mõjudest tingitud võimalike laenukahjumite katteks summas 0,7 miljonit eurot. Laenuporfelli kõrval jätkas kasvu panga hoiuste maht. Head meelt teeb just nõudmiseni hoiuste osakaalu tõus 50% peale. See viib alla meie finantseerimiskulu ning võimaldab veelgi paremini konkureerida laenuturul. Laenuporfelli kasv tõi kaasa tulude olulise kasvu. Panga kulud jäid samas võrreldes eelneva kvartaliga samale tasemele. Nimetatud trendide tulemusena langes panga kulu-tulu suhe 54%-ni ning omakapitali omakapitali tootlus tõusis 12,3%-ni". Kasumiaruanne, tuhandetes eurodes 2022 I kv 2021 IV kv 2021 I kv ------------------------------------------------------------------------- Neto intressitulud 10 595 9 824 8 043 Neto teenustasutulud 796 902 648 Muud tegevustulud, neto 101 -50 202 ------------------------------------------------------------------------- Netotulud kokku 11 492 10 676 8 893 ------------------------------------------------------------------------- Tööjõukulud -3 449 -3 182 -2 879 Turunduskulud -391 -332 -306 Rent, kontorikulud ja mat. põhivara kulum -688 -980 -579 IT kulud ja immat. põhivara kulum -973 -1 013 -740 Muud kulud -698 -698 -619 ------------------------------------------------------------------------- Tegevuskulud kokku -6 199 -6 205 -5 123 ------------------------------------------------------------------------- Kasum enne allahindluste kulu 5 293 4 471 3 770 Finantsvarade allahindlus -1 494 -963 -771 Kasum enne tulumaksu 3 799 3 508 2 999 Tulumaksu kulu -299 -213 -164 ------------------------------------------------------------------------- Aruandeperioodi puhaskasum 3 500 3 295 2 835 ------------------------------------------------------------------------- Finantsseisundi aruanne, tuhandetes eurodes 31.03.2022 31.12.2021 31.03.2021 ----------------------------------------------------------------------------- Raha ja raha ekvivalendid 230 938 252 799 249 416 Võlainstrumendid 4 964 5 932 3 074 Laenud klientidele 1 040 209 953 396 695 721 Muud varad 29 572 29 849 26 700 ----------------------------------------------------------------------------- Varad kokku 1 305 683 1 241 976 974 911 ----------------------------------------------------------------------------- Klientide hoiused ja saadud laenud 1 148 536 1 098 746 848 755 Muud kohustised 14 775 14 423 8 626 Allutatud laenud 27 111 17 064 17 111 ----------------------------------------------------------------------------- Kohustised kokku 1 190 422 1 130 233 874 492 ----------------------------------------------------------------------------- Omakapital 115 261 111 743 100 419 ----------------------------------------------------------------------------- Kohustised ja omakapital kokku 1 305 683 1 241 976 974 911 ----------------------------------------------------------------------------- Coop Panga aruanded on leitavad aadressilt: https://www.cooppank.ee/aruandlus Coop Pank korraldab 2022. aasta I kvartali majandustulemuste tutvustamiseks veebiseminari 20. aprillil 2022 kell 10.00. Osalemiseks palume eelnevalt registreeruda aadressil: https://us06web.zoom.us/webinar/register/WN_HhEbAs6aQwuf6EUkkRmKaQ Veebiseminar salvestatakse ning 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 122 400 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: Paavo Truu Finantsjuht Telefon: +372 516 0231 E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
Coop Pank unaudited financial results for Q1 2022
Message
By the end of the Q1 2022, Coop Pank had 122,400 customers, during the quarter the number of customers increased by 7,800 (+7%). The bank had 54,200 active customers, during the quarter the number of active customers increased by 3,200 (+6%). In Q1 2022, volume of deposits in Coop Pank increased by 50 million euros (+5%), reaching total of 1.15 billion euros. Deposits from domestic companies showed the fastest growth, increasing by 78 million euros, of which 42 million were demand deposits and 36 million were term deposits. Deposits from private clients increased by 11 million euros, demand deposits increased by 15 million euros and time deposits decreased by 4 million euros. Deposits from international deposit platform Raisin and other financing decreased by 39 million euros. Compared to Q1 2021, volume of Coop Pank's deposits has increased by 300 million euros (+35%). In an annual comparison, share of demand deposits to total deposits has increased from 39% to 50%. In Q1 2022, the bank's financing cost was 0.5%, at the same time last year the financing cost was 0.8%. In Q1 2022, net loan portfolio of Coop Pank increased by 87 million euros (+9%), reaching 1.04 billion euros. Business loans portfolio showed the fastest growth, increasing the volume by 45 million euros (+10%). Home loans portfolio increased by 32 million euros (+9%), leasing portfolio increased by 7 million euros (+8%) and consumer finance portfolio increased by 3 million euros (+4%). Compared to Q1 2021, total loan portfolio of Coop Pank has grown by 344 million euros (+50%). In Q1 2022, overdue loan portfolio of Coop Pank remained for the third consecutive quarter at the level of 2%. In an annual comparison, overdue loan portfolio decreased from the level of 3% to 2%. Impairment costs of financial assets in Q1 2022 were 1.5 million euros, which is 0.7 million euros (+94%) more than in Q1 2021. Net income of Coop Pank in Q1 2022 was 11.5 million euros, having grown 8% over the quarter and 29% over the year. Operating expenses reached 6.2 million euros in Q1 - operating expenses did not increase in the quarterly comparison, operating expenses increased by 21% in the annual comparison. In Q1 2022, net profit of Coop Pank was 3.5 million euros, which is 6% more than in the previous quarter and 23% more than a year ago. In Q1 2022, cost to income ratio of the bank was 54% and return on equity was 12.3%. As of 31 March 2022, Coop Pank has 29,862 shareholders, 2 063 (+7%) shareholders have been added over the quarter. Margus Rink, Chairman of the Management Board of Coop Pank, comments the results: "In the first quarter of this year, Coop Pank's loan portfolio exceeded one billion euros. This was one of the five goals we set ourselves during the IPO in 2019 and promised to meet at the latest by the end of 2022. We have seen strong demand for private financing throughout the quarter, and the war in Ukraine that began at the end of February has so far had no effect on private loan demand. In terms of corporate financing, we made one of the strongest quarters ever. At the same time, we can see that the ongoing war has had an impact on business confidence. Uncertainty about the future, deteriorating access to raw materials, rising energy prices, continuing supply chain failures are all forcing companies to re-evaluate and adjust their investment plans. Based on the above, our quarterly results also include an extraordinary provision in the amount of 0.7 million euros to cover possible loan losses due to the impact of the war. In addition to the growth of loan portfolio, also the volume of bank deposits continued to grow. The increase in the share of demand deposits to 50% is gratifying. This will reduce our costs of financing and allow us to compete even better on the credit market. The growth of the loan portfolio led to a significant increase in income. At the same time, the bank's expenses remained at the same level as in the previous quarter. As a result of these trends, the bank's cost / income ratio fell to 54% and the return on equity rose to 12.3%." Income statement, in thousands of euros Q1 2022 Q4 2021 Q1 2021 ----------------------------------------------------------------------------- Net interest income 10 595 9 824 8 043 Net fee and commission income 796 902 648 Net other income 101 -50 202 ----------------------------------------------------------------------------- Total net income 11 492 10 676 8 893 ----------------------------------------------------------------------------- Payroll expenses -3 449 -3 182 -2 879 Marketing expenses -391 -332 -306 Rental and office expenses, depr. of tangible assets -688 -980 -579 IT expenses and depr. of intangible assets -973 -1 013 -740 Other operating expenses -698 -698 -619 ----------------------------------------------------------------------------- Total operating expenses -6 199 -6 205 -5 123 ----------------------------------------------------------------------------- Net profit before impairment losses 5 293 4 471 3 770 Impairment costs on financial assets -1 494 -963 -771 Net profit before income tax 3 799 3 508 2 999 Income tax expenses -299 -213 -164 ----------------------------------------------------------------------------- Net profit for the period 3 500 3 295 2 835 ----------------------------------------------------------------------------- Statement of financial position, in thousands of euros 31.03.2022 31.12.2021 31.03.2021 ------------------------------------------------------------------------------- Cash and cash equivalents 230 938 252 799 249 416 Debt securities 4 964 5 932 3 074 Loans to customers 1 040 209 953 396 695 721 Other assets 29 572 29 849 26 700 ------------------------------------------------------------------------------- Total assets 1 305 683 1 241 976 974 911 ------------------------------------------------------------------------------- Customer deposits and loans received 1 148 536 1 098 746 848 755 Other liabilities 14 775 14 423 8 626 Subordinated debt 27 111 17 064 17 111 ------------------------------------------------------------------------------- Total liabilities 1 190 422 1 130 233 874 492 ------------------------------------------------------------------------------- Equity 115 261 111 743 100 419 ------------------------------------------------------------------------------- Total liabilities and equity 1 305 683 1 241 976 974 911 ------------------------------------------------------------------------------- The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting Coop Pank will organise a webinar on 20 April 2022 at 10:00 AM, to present the financial results of Q1 2022. For participation, please register in advance at: https://us06web.zoom.us/webinar/register/WN_HhEbAs6aQwuf6EUkkRmKaQ The webinar will be recorded and published on the company's website www.cooppank.ee (http://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 122,400 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: Paavo Truu CFO Phone: +372 516 0231 E-mail: [email protected] (mailto:[email protected])