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Coop Pank AS results for April 2023

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Coop Pank's financial results in April 2023:

  * In April, number of the bank's clients increased by 2,400 and number of
    active clients increased by 900. By the end of the month number of clients
    reached 157,600 and number of active clients reached 70,200. Over the year,
    customer base has grown by 26%.
  * Volume of the bank's customer deposits increased by 2 million euros,
    reaching 1.51 billion euros by the end of month. Deposits of corporate
    customers increased by 9 million and deposits of private customers increased
    by 2 million euros. The volume of deposits attracted from international
    platforms decreased by 9 million euros. Over the year, volume of bank
    deposits has grown by 30%.
  * The bank's loan portfolio increased by 17 million euros over the month and
    reached 1.36 billion euros by the end of April. Home loans increased by 9
    million euros, leasing by 3 million euros, consumer financing 3 million
    euros and business loans by 2 million euros. Over the year, loan portfolio
    has grown by 28%.
  * In April, the loan impairment cost was 0.3 million euros.
  * Compared to the first four month of last year, the bank's net income has
    increased by 73% and expenses by 25% during the same period this year.
  * In April, the bank earned net profit of 3.7 million euros. In the first four
    months of the year, the bank has earned a net profit of 13 million euros,
    that is 162% more than in the same period last year.
  * In April, Coop Pank's return on equity was 28.1% and the cost-income ratio
    was 38%.

Comment by Paavo Truu, Member of the Management Board and CFO of Coop Pank:

"The number of Coop Pank customers continued to grow steadily in April. In the
loan portfolio, home loans showed good growth, but in the case of business
loans, we see some reduction in loan demand. Coop Pank's loan portfolio remains
high-quality.

The interest income earned from the growing Euribor allows us to pay
increasingly better deposit rates to local depositors. In April, the volumes of
deposits of both private and business customers increased, and thanks to this we
managed to reduce the volume of internationally attracted deposits. We see that
our competitive term deposit interests and customers' desire to earn the best
return for their money, has resulted in a part of our demand deposits being
converted to term deposits. At the same time, we continue to pay our private
customers a 1% annual return on demand deposits in the Rändrahn settlement
package, and from May we also raised the interest on demand deposits to 0.5% for
business customers, and we pay it from the first euro of the deposit. It is
important to us to work hard for each client, no matter how big or small.

In April, the bank earned net profit of 3.7 million euros, return on equity was
28.1% and the cost-income ratio was 38%.

The general meeting of shareholders held in April confirmed the annual report of
the previous year and the payment of dividends of 4.5 cents per share. On May
3, we transferred nearly 4.6 million euros as dividends to the accounts of
nearly 36,500 shareholders, of which over 98% went to our own Estonian people
and institutions."

More detailed financial reports of Coop Pank are available at:
 https://www.cooppank.ee/en/financial-reports

Coop Pank, based on Estonian capital, is one of the five universal banks
operating in Estonia. The number of clients using Coop Pank for their daily
banking reached 157,600. 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 320 stores.

Additional information:
Paavo Truu
CFO
Phone: +372 5160 231
E-mail: [email protected] (mailto:[email protected])