Coop Pank becomes the most recommended bank in Estonia

A study of the recommendation index of Estonia’s largest service companies conducted by Kantar Emor revealed that Coop Pank has, for the first time, become the highest-rated financial institution among Estonian residents, overtaking the previous leader – LHV Bank.

Among financial institutions, Coop Pank received the highest recommendation index, securing the first place. LHV ranked second, followed by Swedbank in the third rank. SEB and Holm Bank also received a positive recommendation index.

Karel Parve, Head of Private Banking at Coop Pank, emphasized that speed and quality of service are extremely important to them: “We consistently work to ensure our clients have the best possible experience at every point of contact with our service. Our leading position confirms that customers have noticed and deeply value our efforts.”

In the overall ranking of the 68 companies that took part in the Kantar Emor study, Coop Pank also showed notable progress, moving up to 22nd place – an improvement of 11 positions compared to the previous year.

The study showed that while other banks are mostly recommended by residents of Tallinn and Harju County, Coop Pank enjoys a high share of recommendations not only in Northern Estonia, but also across other regions of the country, including smaller rural settlements. Respondents highlighted Coop Pank’s new well-designed app, fast and professional service, as well as attractive home loan offers. The bank’s simplicity, clarity of services, and the ability to deposit and withdraw cash at Coop stores were also mentioned.

The recommendation index (NPS – Net Promoter Score) study conducted by Kantar Emor for Estonia’s largest service companies measures people’s actual willingness to recommend: how likely they are to suggest to friends and acquaintances the companies whose services they have recently used. This year, 2,151 Estonian residents aged 16 to 74 took part in the study.

Estonian-owned Coop Pank is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking is 211000. 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 domestic retail chain Coop Eesti comprising 320 stores.