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Coop Pank’s financial results in August 2019

  • The bank’s customer base increased by 1400, reaching 54,700 by the end of the month.
  • In the same period, the bank’s loan portfolio increased by 9.6 million euros, i.e., 2.4 per cent, having reached 406 million euros.
  • The amount of deposits in Coop Pank reached 444.6 million euros by the end of August, having in a month grown by 13 million euros, which is 3 per cent.
  • The bank earned a net profit of 514,000 euros in August.

Commentary by Margus Rink, chairman of the board of Coop Pank: “All the financing-related lines of business contributed to the growth of Coop Pank’s amount of business: mortgages, consumer loans, business loans and leasing. We continued our efforts for the growth of the corporate banking line of business, and the new majority shareholder of Toom Tekstiil, one of the largest employers in Viljandi County, choosing Coop Pank as the source of financing for the acquisition of the company was a great win in this particular domain. This shows that domestic banks are capable of providing local companies with financing for the purpose of complicated deals. We expect Coop Pank’s role in supporting the development of other Estonian companies to remain equally important, which will allow us to contribute to upkeeping Estonia’s economic success.”