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Coop Pank AS results for May 2022

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Coop Pank AS results for May 2022

Coop Pank's financial results in May 2022:

  * In May, number of the bank's clients increased by 2900 and number of active
    clients increased by 1700. By the end of the month number of clients reached
    128,300 and number of active clients reached 55,400. Over the year, customer
    base has grown by 31%.
  * Volume of the bank's customer deposits increased by 28 million euros,
    reaching 1.19 billion euros by the end of month. Deposits of corporate
    customers increased by 25 million and deposits of private customers remained
    at the same level as in April. The volume of deposits attracted from
    international platforms increased by 4 million euros. Over the year, volume
    of bank deposits has grown by 36%.
  * The bank's loan portfolio increased by 38 million euros over the month and
    reached 1.1 billion euros by the end of month. Home loans increased by 16
    million euros, business loans increased by 16 million euros, leasing by 4
    million euros and consumer financing by 2 million euros. Over the year, loan
    portfolio has grown by 50%.
  * In May, the loan impairment cost was 0.17 million euros.
  * Compared to the first five months of last year, the bank's net income has
    increased by 33% and expenses by 22% during the same period this year.
  * The bank earned net profit of 1.9 million euros in May. In the first five
    months of the year, the bank earned a net profit of 6.9 million euros, that
    is 45% more than in the same period last year.
  * In May, Coop Pank's return on equity was 19.1% and the cost-income ratio was
    50.5%.

Comment by Paavo Truu, Member of the Management Board and Chief Financial
Officer:

"The world economy is facing a number of challenges, the effects of that also
extend to Estonia. Estonian people and companies are already facing the fastest
inflation in the EU area. In difficult circumstances, the importance of banks
based on local capital is growing, and this is also confirmed by our growth
figures.

In May, Coop Pank's loan and deposit portfolios continued to grow strongly and
over the year bank's loan portfolio has increased by 50% and deposit portfolio
by 36%. We see that both private individuals and entrepreneurs trust us, because
we are able to offer useful and flexible solutions even in difficult
circumstances, and the profits earned will continue to support the Estonian
economy.

Coop Pank earned a net profit of 1.9 million euros in May, return on equity was
19.1% and a cost / income ratio was 50.5% in May."

Coop Pank's financial reports 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 128,300. 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 5160 231
E-mail: [email protected] (mailto:[email protected])