Coop Pank’s new Head of Retail Banking: There is room for stronger competition in Estonia’s banking market

Coop Pank aims to continue growing faster than the Estonian banking market next year by increasing its number of retail customers and strengthening its position in everyday banking. According to Maaring, achieving this requires offering competitive services that provide customers with greater everyday benefits.

"Our goal is to give people more reasons to choose Coop Pank for their everyday banking. This year, we have launched the Unlimited banking plan and the Platinum credit card, offering customers new opportunities and additional benefits. Together with Coop, we have also introduced Coop Pluss, a good example of how combining retail and banking creates additional value for customers. The expansion of Coop's store network in Tallinn and Harju County has made our shared benefits available to more people, who can, for example, earn shopping bonuses on their everyday purchases," Maaring said.

According to Maaring, Coop Pank's strength lies in combining modern banking services with the opportunities offered by Estonia's largest retail chain.

"Competition in Estonia's banking market is strong, but we see room for even more. As an Estonian bank, we want to offer a credible alternative to the larger banks. We believe that customers place their trust in a bank that offers good terms, convenient services and everyday benefits. This will remain our focus going forward," Maaring added.

Moonika Maaring joined Coop Pank in April 2024 and previously headed everyday banking for retail customers. Before joining Coop Pank, she served as Head of Retail Banking at LHV and held other senior management positions. She has also worked at Swedbank P&C Insurance and Salva Kindlustus.

Maaring was elected to Coop Pank's Management Board in September this year and took over as Head of Retail Banking from Karel Parve.