Company Announcement
9 December 2019
Coop Pank’s financial results in November 2019:
- The bank’s customer base increased by a record 3,600, reaching 61,900 by the end of the month.
- In the same period, the bank’s loan portfolio increased by EUR 21 million, having reached EUR 447 million. Business loans showed the highest growth, while all other financing business lines contributed to the growth as well.
- The amount of deposits in Coop Pank reached EUR 507 million by the end of November, having in a month grown by EUR 12 million.
- The bank earned a net profit of EUR 545 thousand in November.
Commentary by Margus Rink, chairman of the management board of Coop Pank: „The public offering of bank’s shares and the subscription benefit to the clients were the main drivers of customer growth in November. Secondly, we see that the best benefits of Coop stores loyalty programme, available now to Coop Pank debit card holders from 5 November, bring us new clients from among the holders of Coop loyalty card.”
More detailed quarterly 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. It has 15 branch offices and 24 banking points all over the country. The number of clients using Coop Pank for their daily banking reached 61,900. 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 main shareholder of the bank is the domestic retail chain Coop Eesti comprising 340 stores.
Further information:
Kristjan Seema
Head of Marketing and Communication
+372 5505 253
kristjan.seema@cooppank.ee
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