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Coop Pank AS
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Majandusaasta aruanne
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13.02.2025 08:00:00
Pealkiri
Coop Pank 2024. aasta IV kvartali ja 12 kuu auditeerimata majandustulemused
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Coop Panga 2024. aasta äritulemusi mõjutas positiivselt korralik ärimahtude kasv - head kasvu näitas nii klientide arv kui ka laenuportfell. Üleüldisel majandus- ja intressikeskkonnal oli äritulemustele negatiivne mõju. Aastaga kasvas Coop Panga klientide arv 26 000 võrra (+14%) ja aktiivselt arveldavate klientide arv 17 400 võrra (+21%). Uutest klientidest olid 23 000 erakliendid ja 3 000 ärikliendid. 2024. aasta lõpuks ulatus Coop Panga klientide arv 208 000-ni, kellest 99 400 olid aktiivsed arveldajad. 2024. aasta lõpu seisuga ulatus Coop Panga hoiuste maht 1,89 miljardi euroni, kasvades aastaga 164 miljoni euro võrra (+10%). Tähtajalised hoiused kasvasid aastaga 7% ja nõudmiseni hoiused kasvasid 15%. Panga finantseerimiskulu kasvas aastaga 2,4% tasemelt 3,3% tasemele. Panga hoiuste turuosa kasvas aastaga 6,0% pealt 6,1% peale. Coop Panga laenuportfell ulatus 2024. aasta lõpu seisuga 1,77 miljardi euroni, kasvades aastaga 283 miljoni euro võrra (+19%). Suurima panuse portfelli kasvu andsid ärilaenud ja kodulaenud. Ärilaenude portfell kasvas 129 miljonit eurot (+20%) ja kodulaenu portfell kasvas 121 miljonit eurot (+20%). Liisingu portfell kasvas 24 miljonit eurot (+16%) ja tarbimisfinantseerimise portfell kasvas 9 miljonit eurot (+9%). Panga laenude turuosa kasvas aastaga 6,0% pealt 6,3% peale. Laenuportfelli kvaliteet püsis 2024. aastal hoolimata muutustele majanduskeskkonnas väga hea. Võimalike laenukahjumite katteks moodustati 2024. aastal 4,6 miljonit eurot provisjone, mida oli 26% vähem kui aasta varem. Krediidiriski kulumäär langes aastaga 0,5% pealt 0,3% peale. Panga netotulud ulatusid 2024. aastal 81,9 miljoni euroni, kahanedes aastaga 3,3 miljonit eurot (-4%). Neto intressitulud kahanesid aastaga 3,7 miljonit eurot (-5%). Neto teenustasutulud kahanesid aastaga 0,5 miljonit eurot (-10%). Panga tegevuskulud ulatusid 40,6 miljoni euroni, kasvades aastaga 5,4 miljonit eurot (+16%). Tegevuskuludest suurima osa sellest moodustasid jätkuvalt personali-, IT- ja turunduskulud. Coop Panga puhaskasum oli 2024. aastal 32,2 miljoni eurot, kahanedes langevate intresside keskkonnas aastaga 18%. Panga kulu-tulu suhe tõusis aastaga 41% pealt 50% tasemele, kus see oli ka 2022. aastal. Omakapitali tootlus langes 23,5% pealt 16,2% tasemele - sarnasel tasemel oli see ka 2022. aastal. Coop Pangal on 31.12.2024 seisuga 35 885 aktsionäri. IV kvartali tulemused 2024. aasta IV kvartalis kasvas panga klientide arv 6000 kliendi võrra (+3%), neist 5000 olid erakliendid ja 1000 ärikliendid. Aasta lõpu seisuga oli Coop Pangal 208 000 igapäevapanganduse klienti. Hoiuste maht kasvas kvartaliga 47 miljoni euro võrra (+3%) ja ulatus aasta lõpuks 1,89 miljardi euroni. Kvartaliga kahanes nõudmiseni hoiuste maht 14 miljonit eurot ja tähtajaliste hoiuste maht kasvas 61 miljonit eurot. Panga neto laenuportfell kasvas kvartaliga 113 miljoni euro võrra (+7%), jõudes aasta lõpuks 1,77 miljardi euroni. Ärilaenude maht kasvas kvartaliga 73 miljonit eurot ja kodulaenude maht kasvas 32 miljonit eurot. Tarbimisfinantseerimine kasvas 5 miljonit eurot ja liising 4 miljonit eurot. Pank teenis 2024. aasta IV kvartalis 6,4 miljonit eurot kasumit, mis on 26% vähem, kui oli III kvartalis ja 24% vähem, kui oli eelmisel aastal samal perioodil. IV kvartali kasumlikkust mõjutas negatiivses suunas eelkõige intressikeskkond, mida osaliselt kompenseeris ärimahtude kasv. Coop Panga juhatuse esimehe Margus Rinki kommentaar tulemustele: ?Coop Panga 2024. aasta tegevusele ja tulemusele hinnangu andmiseks tuleb vaadata laiemat konteksti. Me tegutseme keskkonnas, mida 2022-2023. aastal kujundasid tõusvad baasintressid, mille tulemusena inimeste ostujõud langes, ettevõtete investeerimisvalmidus kadus ning majandus jahtus. 2024. aastal jõudsime majanduslanguse põhja ning tasapisi oli näha märke, mis loovad eeldusi tsükli pöördumiseks: baasintressimäärad on nüüdseks languses, inimeste reaalpalk on viimastel kvartalitel kasvanud, maksumuudatused on lähiaastateks fikseeritud, energiahinnad on stabiilsed ja ettevõtjad pühivad tolmu sahtlitesse pandud äriplaanidelt. Eelnevast lähtuvalt mõjutasid panga tulemust 2024. aastal kaks faktorit. Esiteks - langevad intressimäärad. Tegemist on meist sõltumatu protsessiga, mis samal ajal vähendas oluliselt meie intressitulusid aga ka intressikulusid. Teiseks - ärimahtude kasv. Siin sõltub kõik meist. Oleme kasvustrateegiaga pank, pingutasime kõvasti ning kasvatasime majanduslanguse aastal ärimahte (laenuportfelli maht, klientide arv) ligi 19%. See on 2-3 korda rohkem kui Eesti pangandusturg tervikuna. Selle tulemusega oleme igati rahul. 2024. aastal kasvas meie klientide arv 26 000 võrra (+14%). Üha enam järgneb konto avamisele ka põhipanga vahetus ning siit edaspidi hakkab klient kasutama Coop Panka oma peamise arvelduspangana. Samas on siin ka meie suurim väljakutse ettepoole vaatavalt. Just põhipanga vahetus on see, mis toob meile nõudmiseni hoiuste kasvu ning võimaldab alandada finantseerimiskulu. Täna moodustavad nõudmiseni hoiused vaid kolmandiku meie hoiustest. Panga laenuportfell kasvas 2024. aastal 283 miljoni euro võrra (+19%). Aastaringselt näitasid korralikku kasvu kodulaen ja autoliising - eraklientide laenunõudlus püsis vaatamata raskele majanduskeskkonnale heal tasemel. Nõudlus ärilaenude järele oli esimesel poolaastal madal. Sügisel nõudlus tekkis ning aasta lõpukuudel saavutasime ärilaenu portfellis märkimisväärse kasvu. Nõudlus tarbimislaenude järele püsis kogu aasta vältel nõrk. Laenuportfelli kvaliteet püsis terve aasta tugev. Coop Panga kasum ulatus 2024. aastal 32,2 miljoni euroni, kahanedes aastaga 18%. Kasumi languse põhjustas langevate intressidega majanduskeskkond, mida ei suutnud kompenseerida ka 19% ärimahtude kasv. Järgisime kehtivat dividendipoliitikat ja maksime kontserni 2023. aasta maksueelsest kasumist dividendidena välja 25% ehk kokku netosummas 8,9 miljonit eurot (8,7 senti aktsia kohta, mida on pea kaks korda rohkem, kui oli aasta varem). Sellele lisandus dividendidelt makstud tulumaks 2 miljonit eurot. Üle 98% dividendidest laekus Eesti inimeste ja ettevõtete pangakontodele. Coop Pangal oli aasta lõpu seisuga 35 885 aktsionäri. 2024. aastal laiendasime veelgi oma rolli ühiskonda panustajatena. Kui siiani oleme panustanud Eesti elu edendamisse peamiselt läbi oma laia kontorivõrgu ja Coopi kaupluste sularahavõrgustiku, siis nüüdsest toetama uudse Kaardiväe kliendiprogrammiga otseselt ka Eesti kaitsevõimet. Peale selle on pank võrkpalli rahvuskoondise ja Eesti kümnevõistlejate suurtoetaja. Lisaks väljastame koostöös TalTechi Arengufondiga tudengitele stipendiumeid. Möödunud aastal kerkis ühiskondlik diskussioon õpetajate töökoormuse ja palga üle. Reageerisime sellele kiiresti ja hakkasime pakkuma õpetajatele soodustingimustel kodulaenu, millega jätkame ka tänavu. Koostöös Eesti idufirma Montonio Finance'iga tõime turule ka kõige konkurentsivõimelisema e-poe makselahenduse kaupmeestele. 2024. aasta alguses võtsime panga kasvustrateegia toetamiseks 15 miljonit eurot allutatud laenu. Tegemist on panga teise taseme omavahenditesse kuuluva kapitaliinstrumendiga. Eesti Pank määras Coop Panga süsteemselt oluliste krediidiasutuste hulka, põhjendas oma otsust sellega, et panga olulisus Eesti finantssüsteemis on viimastel aastatel pidevalt kasvanud. Reitinguagentuur Moody's kinnitas Coop Panga reitinguhinnangu senisel Baa2 tasemel, ning reitingu väljavaade tõsteti positiivseks. See näitab, et vaatamata keerulistele aegadele, on pank jätkuvalt usaldusväärne, hästi kapitaliseeritud, kvaliteetse krediidiportfelliga ning on näidanud head kasumlikkust. Novembris väljastas Euroopa Keskpank Eesti Finantsinspektsiooni ettepanekul pangale pandikirjade emiteerimist võimaldava täiendava tegevusloa. Tegeliku emissiooni läbiviimise, sh emissiooni ajastuse, mahu ja muud tingimused, otsustab pank vastavalt turuolukorrale ning panga finantseerimisvajadustele. Panga strateegiline eesmärk on kasvatada 2027. aasta alguseks turuosa Eestis 10%-ni ja laenuportfelli vähemalt 2 miljardi euroni ning jõuda seeläbi positsioonile, kus enam kui iga kümnes eestimaalane kasutab Coop Panka põhipangana - see tähendab vähemalt 150 000 arveldavat klienti. Ärimahtude kasvatamise tulemusena seab pank eesmärgiks tegutseda kõrge efektiivsusega (kulude ja tulude suhe alla 50%) ning pakkuda aktsionäridele ootuspärast omakapitali tootlust (ROE vähemalt 15%). Tänan kõiki Coop Panga kliente, aktsionäre ja töötajaid 2024. aasta eest. Meie eesmärk on ehitada Panka selliselt, et see oleks igaühe edulugu. Edulugu kliendile. Edulugu aktsionärile. Edulugu töötajale. Edulugu ühiskonnale." Kasumiaruanne, tuh 2024 12 2023 12 eur 2024 IV kv 2024 III kv 2023 IV kv kuud kuud ------------------------------------------------------------------------------- Neto intressitulu 19 148 20 021 20 594 77 570 81 265 Neto teenustasutulu 1 303 1 040 1 489 4 358 4 847 Muud tulud, neto -483 167 -1 666 -45 -908 ------------------------------------------------------------------------------- Netotulud kokku 19 968 21 228 20 415 81 883 85 204 ------------------------------------------------------------------------------- Tööjõukulud -6 007 -6 138 -5 495 -23 411 -20 234 Turunduskulud -788 -593 -912 -2 690 -2 587 Rendi- ja kontorikulud, materiaalse põhivara kulum -798 -729 -678 -3 097 -2 776 IT kulud ja immateriaalse põhivara kulum -1 731 -1 579 -1 363 -6 189 -4 803 Muud tegevuskulud -1 473 -1 221 -1 498 -5 189 -4 728 ------------------------------------------------------------------------------- Tegevuskulud kokku -10 797 -10 261 -9 948 -40 575 -35 128 ------------------------------------------------------------------------------- Kasum enne allahindluse kulu 9 171 10 967 10 468 41 306 50 076 Finantsvarade allahindluse kulu -1 821 -1 022 -1 148 -4 643 -6 302 Kasum/kahjum enne tulumaksu 7 351 9 945 9 322 36 663 43 774 Tulumaksu kulu -957 -1 296 -935 -4 486 -4 570 ------------------------------------------------------------------------------- Aruandeperioodi puhaskasum 6 393 8 649 8 386 32 178 39 204 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Puhaskasum aktsia kohta, eur 0,06 0,08 0,08 0,31 0,38 Lahustatud puhaskasum aktsia kohta, eur 0,06 0,08 0,08 0,31 0,38 ------------------------------------------------------------------------------- Finantsseisundi aruanne, tuhandetes eurodes 31.12.2024 30.09.2024 31.12.2023 -------------------------------------------------------- Raha ja raha ekvivalendid 343 678 404 472 428 354 Võlainstrumendid 37 751 37 445 36 421 Laenud klientidele 1 774 118 1 661 152 1 490 873 Muud varad 33 066 31 956 30 564 -------------------------------------------------------- Varad kokku 2 188 614 2 135 025 1 986 212 -------------------------------------------------------- Klientide hoiused ja saadud laenud 1 886 145 1 838 626 1 721 765 Muud kohustised 27 683 28 026 28 435 Allutatud laenud 63 148 63 410 50 187 -------------------------------------------------------- Kohustised kokku 1 976 977 1 930 062 1 800 387 -------------------------------------------------------- Omakapital 211 637 204 963 185 825 -------------------------------------------------------- Kohustised ja omakapital kokku 2 188 614 2 135 025 1 986 212 -------------------------------------------------------- Coop Panga aruanded on saadaval aadressil: https://www.cooppank.ee/aruandlus Coop Pank korraldab majandustulemuste tutvustamiseks veebiseminari 13. veebruaril 2025 kell 09.00. Osalemiseks palume eelnevalt registreeruda aadressil: https://bit.ly/CP-veebiseminar-registreerimine-13-02-2025 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 (https://www.youtube.com/@cooppank). Eesti kapitalil põhinev Coop Pank on üks viiest Eestis tegutsevast universaalpangast. Pangal on 208 000 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: Margus Rink Juhatuse esimees E-post: [email protected]
Pealkiri
Unaudited financial results of Coop Pank for Q4 and 12 months of 2024
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Coop Pank's business results for 2024 were positively impacted by solid business volume growth - both the number of customers and the loan portfolio showed strong growth. The overall economic and interest rate environment had a negative impact on business results. Over the year, the number of Coop Pank customers increased by 26,000 (+14%) and the number of active customers increased by 17,400 (+21%). Of the new customers, 23,000 were private customers and 3,000 were business customers. By the end of 2024, the number of Coop Pank customers reached 208,000, of which 99,400 were active customers. By the end of 2024, deposits of Coop Pank reached 1.89 billion euros, increased by 164 million euros (+10%) over the year. Term deposits increased by 7% over the year and demand deposits by 15%. The bank's financing cost increased over the year from the level of 2.4% to the level of 3.3%. The market share of the bank's deposits increased from 6.0% to 6,1% over the year. By the end of 2024, loan portfolio of Coop Pank reached 1.77 billion euros, increased by 283 million euros (+19%) over the year. Business loans and home loans made the biggest contribution to portfolio growth. Business loans portfolio increased by 129 million euros (+20%) and home loan portfolio increased by 121 million euros (+20%). Leasing portfolio increased by 24 million euros (+16%) and consumer finance portfolio increased by 9 million euro (+9%). The market share of the bank's loans increased from 6.0% to 6.3% over the year. In 2024, the quality of the loan portfolio remained very good, despite of the changes in the economic environment. To cover possible loan losses, 4.6 million euros provisions were made in 2024 - that was 26% less than a year earlier. The cost ratio for credit risk decreased from 0.5% to 0.3%. The net income of Coop Pank reached 81.9 million euros, decreased by 3.3 million euros (-4%) over the year. Net interest income decreased 3.7 million euros (- 5%) over the year. Net service fee revenues decreased 0.5 million euros (-10%) over the year. The bank's operating cost reached 40.6 million euros, increased by 5.4 million euros (+16%) over the year. Personnel, IT and marketing costs continued to make up the largest part of operating costs. Net profit of Coop Pank in 2024 was 32.2 million euros, decreased by 18% over the year. The bank's cost / income ratio increased from 41% to 50% over the year and the return on equity decreased from the level from 23.5% to 16.2% - similar level was also seen in 2022. As of 31 December 2024, Coop Pank has 35,885 shareholders. Results in Q4 In Q4 2024, the number of the bank's customers increased by 6,000 (+3%), of which 5,000 were private customers and 1000 were corporate customers. By the end of the year 2024, Coop Pank had 208,000 daily banking customers. In Q4 2024, the volume of deposits increased by 47 million euros (+3%) and reached 1.89 billion euros by the end of the year. Over the quarter, the volume of demand deposits decreased by 14 million euros and the volume of term deposits increased by 61 million euros. The bank's net loan portfolio increased by 113 million euros (+7%) over the quarter, reaching 1.77 billion euros by the end of the year. The volume of corporate loans increased by 73 million euros and the volume of home loans increased by 32 million euros. Consumer financing increased by 5 million euros and leasing by 4 million euros. In Q4 2024, Coop Pank earned a profit of 6.4 million euros, which is 26% less than in Q3 and 24% less than in the same period last year. Quarterly profitability was negatively impacted primarily by the interest rate environment, which was partially offset by business volume growth. Comments of the CEO of Coop Pank Margus Rink: "To evaluate Coop Pank's activities and results in 2024, it is essential to consider the broader context. We operate in an environment shaped by rising base interest rates during 2022-2023, which resulted in decreased purchasing power, diminished corporate investment appetite, and a cooling economy. In 2024, we reached the bottom of the economic downturn, and gradually, signs began to emerge that set the stage for a cyclical turnaround: base interest rates are now declining, real wages have increased over recent quarters, tax changes have been fixed for the coming years, energy prices are stable, and entrepreneurs are dusting off business plans that were shelved. Based on this context, Coop Pank's performance in 2024 was influenced by two factors. First - declining interest rates. This was an independent process beyond our control, which simultaneously significantly reduced both our interest income and interest expenses at the same time. Secondly, the growth of business volumes. This factor depended entirely on us. As a growth-focused bank, we worked hard and managed to increase business volumes (loan portfolio size, customer base) by approximately 19% during the year of economic downturn. This is 2-3 times higher than the overall Estonian banking market. This achievement is one we are proud of. In 2024, our customer base grew by 26 000 (+14% YoY). Increasingly, account openings are followed by customers switching their primary banking relationship to Coop Pank. At the same time, this also represents our greatest challenge moving forward. Primary banking relationships bring growth in demand deposits and help lower financing costs. Currently, demand deposits constitute only one- third of our total deposits. Coop Pank's loan portfolio grew by 283 million euros (+19% YoY) in 2024. Throughout the year, home loans and car leasing showed strong growth, indicating that demand for personal loans remained solid despite the challenging economic environment. Demand for business loans was low during the first half of the year. In the fall, demand emerged, and in the final months of the year, we achieved significant growth in the business loan portfolio. Demand for consumer loans remained weak throughout the year. The quality of the loan portfolio remained strong all year. Coop Pank's net profit for 2024 amounted to 32,2 million euros, decreasing 8%. The decline in profit was primarily caused by the low-interest economic environment, which could not be offset by 19% growth in business volumes. We adhered to our current dividend policy and distributed 25% of the consolidated group's 2023 pre-tax profit as dividends, amounting to a net total of 8.9 million euros (8.7 cents per share, nearly double the amount of the previous year. In addition, 2 million euros in income tax on dividends was paid. Over 98% of the dividends were paid into the accounts of Estonian individuals and companies. By the end of the year, Coop Pank had 35 885 shareholders. In 2024, we further expanded our role as contributors to society. While we have previously contributed the advancement of life in Estonia primarily through our extensive branch network and Coop stores' cash network, we have now begun directly supporting Estonia's defense capabilities with the innovative Kaardivägi client program. Additionally, Coop Pank became a major sponsor of both the national volleyball team and Estonian decathletes. Furthermore, in collaboration with the TalTech Arengufond, we started awarding scholarships. Last year, a public discussion arose about teachers' workload and salaries. We responded quickly and started offering teachers mortgage loans on favorable terms, a program we are continuing this year. In collaboration with the Estonian startup Montonio Finance, we also launched the most competitive e-commerce payment solution for merchants. Beginning of 2024, we secured a subordinated loan of 15 million euros to support the bank's growth strategy. This is a capital instrument classified as part of the bank's Tier 2 own funds. Eesti Pank designated Coop Pank as a systemically important credit institution, justifying its decision by stating that the bank's significance in Estonia's financial system has steadily increased in recent years. The rating agency Moody's affirmed Coop Pank's Credit rating on the level Baa2 and raised outlook to positive. This confirms that the bank is trustworthy with solid capital base and high quality of the loan portfolio even in difficult times and has shown good profitability. In November, on the proposal of Estonian Financial Supervision Authority, the European Central Bank granted to the bank an additional activity license enabling 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. Coop Pank's strategic goal is to increase its market share in Estonia to 10% by the beginning of 2027 and grow its loan portfolio to at least 2 billion euros. This will position us as the primary bank for more than one in ten Estonians - amounting to at least 150 000 active customers. Through business volume growth, the bank aims to operate with high efficiency (cost-to-income ratio below 50%) and deliver a solid return on equity (ROE of at least 15%). I would like to thank all Coop Pank customers, shareholders, and employees for the year 2024. Our goal is to build Coop Pank into a success story for everyone: a success story for customers, shareholders, employees and society alike." Income statement, in th. of euros Q4 2024 Q3 2024 Q4 2023 12M 2024 12M 2023 ------------------------------------------------------------------------------- Net interest income 19 148 20 021 20 594 77 570 81 265 Net fee and commission income 1 303 1 040 1 489 4 358 4 847 Net other income -483 167 -1 666 -45 -908 ------------------------------------------------------------------------------- Total net income 19 968 21 228 20 415 81 883 85 204 ------------------------------------------------------------------------------- Payroll expenses -6 007 -6 138 -5 495 -23 411 -20 234 Marketing expenses -788 -593 -912 -2 690 -2 587 Rental and office expenses, depr. of tangible assets -798 -729 -678 -3 097 -2 776 IT expenses and depr. of intangible assets -1 731 -1 579 -1 363 -6 189 -4 803 Other operating expenses -1 473 -1 221 -1 498 -5 189 -4 728 ------------------------------------------------------------------------------- Total operating expenses -10 797 -10 261 -9 948 -40 575 -35 128 ------------------------------------------------------------------------------- Net profit before impairment losses 9 171 10 967 10 468 41 306 50 076 Impairment costs on financial assets -1 821 -1 022 -1 148 -4 643 -6 302 Net profit before income tax 7 351 9 945 9 322 36 663 43 774 Income tax expenses -957 -1 296 -935 -4 486 -4 570 ------------------------------------------------------------------------------- Net profit for the period 6 393 8 649 8 386 32 178 39 204 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Earnings per share, eur 0,06 0,08 0,08 0,31 0,38 Diluted earnings per share, eur 0,06 0,08 0,08 0,31 0,38 ------------------------------------------------------------------------------- Statement of financial position, in th. of euros 31.12.2024 30.09.2024 31.12.2023 ------------------------------------------------------------------------------- Cash and cash equivalents 343 678 404 472 428 354 Debt securities 37 751 37 445 36 421 Loans to customers 1 774 118 1 661 152 1 490 873 Other assets 33 066 31 956 30 564 ------------------------------------------------------------------------------- Total assets 2 188 614 2 135 025 1 986 212 ------------------------------------------------------------------------------- Customer deposits and loans received 1 886 145 1 838 626 1 721 765 Other liabilities 27 683 28 026 28 435 Subordinated debt 63 148 63 410 50 187 ------------------------------------------------------------------------------- Total liabilities 1 976 977 1 930 062 1 800 387 ------------------------------------------------------------------------------- Equity 211 637 204 963 185 825 ------------------------------------------------------------------------------- Total liabilities and equity 2 188 614 2 135 025 1 986 212 ------------------------------------------------------------------------------- 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 09:00 on 13 February 2025. To participate, please register in advance via the following link: https://bit.ly/CP-veebiseminar- registreerimine-13-02-2025 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 (https://www.youtube.com/@cooppank). Coop Pank, which is based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 208,000 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 320 stores. Further information: Margus Rink Chief Executive Office Email: [email protected]