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Coop Pank will hold a conference webinar 18th of November

Coop Pank invites shareholders, investors, analysts and other stakeholders to join its conference webinar, scheduled on November the 18th 2019 at 16 pm (EET). Webinar will be hosted by board members of Coop Pank, Hans Pajoma and Kerli Lõhmus, who will introduce the bank’s strategic goals for upcoming 3 years and the initial public offering of the shares of Coop Pank.

Subscription to Coop Pank shares starts on November 18

On Tuesday, Coop Pank disclosed the conditions for an initial public offering (IPO) of its shares and indicated that the subscription period begins on November 18. During the IPO, Coop Pank expects to raise 37 million euros of additional capital to finance its development strategy, issuing up to 32.2 million new shares.

Owners of Coop Pank approved the IPO plans

On Friday, November 8, at an extraordinary general meeting, shareholders of Coop Pank approved a proposal to issue new shares during the initial public offering (IPO) and to submit them for public trading on the Tallinn Stock Exchange.

In October Coop Pank that is soon to go public received a record 2000 new customers

Coop Pank’s financial results in October 2019:

Now in Coop stores customers with Coop Pank cards can benefit from even better deals

Starting Tuesday, in its stores the largest Estonian retail chain Coop offers even better prices and a more profitable bonus points system to private customers who use Coop Pank cards.

Changes in price lists

The price list for private clients changes from 01.11.2019  due to the termination of issuing Coop Pank ID-cards from 1 November 2019.

Coop Pank’s card now allows users to deposit cash to their accounts anywhere in Estonia

The cash depositing service launched by Coop Pank in 140 Coop stores in the summer has been gradually expanded over the whole country, and now that Kilingi-Nõmme, Abja and Saaremaa have joined the network, the bank’s private and business clients can deposit cash to their accounts in any of 302 Coop stores.

Coop Pank’s profit over the third quarter increased by 31 per cent compared to a year ago, reaching 1.52 million euros

Coop Pank, which is based on Estonian capital, earned a profit of 1.52 million euros within the third quarter of this year, which is 31 per cent more than over the same period of last year.  In the third quarter, the bank significantly increased the amount of loans issued and deposits made and acquired a record number of clients.

The Jõhvi branch of Coop Pank is moving

From 29 November, the branch office will be located at the new shopping mall Jõhvi Pargikeskus, located at Pargi 30, Jõhvi.

Coop Pank increases security by adding automatic notifications for mobile banking

In the new version of its mobile banking software, Coop Pank has implemented notifications which allow transactions on your account to be monitored in real time on your mobile screen, which helps prevent bank fraud.

Coop Pank started offering car leasing in its stores

From the beginning of October until the end of the year, Coop Pank is collaborating with Amserv to offer car leasing in the stores of Coop Eesti, where customers will be able to see the most popular Toyota models as well as review leasing conditions and file a pre-filled leasing application on the spot.

Terms and conditions will change in December

The General Terms & Conditions, Privacy Policy and the Standard Terms & Conditions of Settlement Contract and Debit Cards of the bank will change as of 1 December 2019.

Conclusion of cash transactions will only be possible in euros

Due to small demand, Coop Pank will stop processing cash transactions in US dollars (USD) as of 16 November 2019.

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 milli

The open banking API interface of Coop Pank is open to service providers

The API of Coop Pank is ready for use – we are offering financial service providers certified by the Financial Supervision Authority access to the open banking API interface of Coop Pank.

Customers of Coop Pank deposited over one million euros using cash registers in stores

In May of this year the cash deposit service has been launched by Coop Pank. During the first three months of operation of the service customers of Coop Pank deposited one million euros in cash registers of Coop stores. The cash deposit service is most actively used in larger stores with a higher flow of customer. At the end of August, the one-million-euro milestone was reached in the cash register of Põlva Maksimarket in Põlvamaa.

Withdrawing cash to become even easier for Coop Pank clients in Coop stores

The nationwide service launched in Estonia last year which allows cash to be withdrawn from any Coop store checkout is set to become even easier: Coop Pank clients will no longer have to make at least a €1 purchase to use the service, and the service fees for clients of other banks will be standardised.

Coop Pank financed the purchase of Toom Tekstiil

Toom Tekstiil, the company which was founded in 1995 and is one of the largest employers in Viljandi County, now has new Estonia-based owners who aim to continue the production of textile and furniture for the domestic and export market in Viljandi and Abja-Paluoja.

Movement of payments and opening hours of branches during the public holiday

Payments between banks will not be transferred 20th of August due to the public holiday. Payments within Coop Bank and instant payments system will be transferred as normal.

Coop Pank’s economic results for July 2019

Coop Pank’s economic results for July 2019

LHV, Ellex Raidla and Agenda PR to advise on listing of Coop Pank

For the initial public offering (IPO) of its shares, Coop Pank has selected LHV as its financial adviser, Ellex Raidla as its legal adviser and Agenda PR as its communications adviser.

Coop Pank will not be quoting the Russian ruble (RUB)

Coop Pank will not be quoting the Russian ruble (RUB) any more as of 13 October 2019.

One in seven cash deposits performed via Coop Sula

The cash deposit service launched by Coop Pank at registers in Coop stores on 21 May has proven very popular among clients: deposits easily outstripped withdrawals within a few weeks of the launch, and in less than two months the total amount of cash deposited has reached 500,000 euros.

The number of Coop Pank’s clients reached nearly 52,000 in the 2nd quarter at a record pace

In the second quarter of this year, the number of clients of Pank, which is based on Estonian capital, increased by a record-breaking figure of 4100 new clients to nearly 52,000. Within a year, Coop Pank’s client portfolio has grown by almost a third.

Coop Pank will start offering free loan insurance for home loans

Coop Pank will add free loan insurance to the home loan agreements entered into as of 1 July. Coop Pank offers this solution, which is innovative in Estonia, in cooperation with If Kindlustus.

Movement of payments and opening hours of branches during holidays

Payments between banks will not be transferred 24th of June due to the public holiday. Payments within Coop Bank and instant payments system will be transferred as normal.

The opening hours of our Kesklinna office will change

The Bank informs you that from 1 July the opening hours of our Kesklinna office will change. The office, located at Narva mnt 4, Tallinn, will be open 9:00-18:00 Monday - Friday. The office will be closed on Saturdays.

Coop Pank is heading for listing its shares on the stock exchange

Today, Coop Pank’s Supervisory Board commissioned the Management Board to start preparations for the public listing of the bank’s shares on the Tallinn Stock Exchange. Coop Pank’s Initial Public Offering (IPO) might presumably be issued in the autumn of 2019 at the earliest.

Coop Pank opens its cash depositing service in Coop stores

On Tuesday, 21 May, Coop Pank opens the cash depositing service in nearly 140 Coop stores. By mid-summer the bank’s private and business clients will be able to deposit cash on their accounts in more than 300 Coop stores, which means that the number of cash depositing points in Estonia will more than double.

Coop Pank starts offering a rate of interest of 1% on account balance

Coop Pank, a bank based on domestic Estonian capital, started paying interest at the rate of 1% per year on private customers’ account balance, which is the highest among Estonian banks and 100 times higher than the standard interest rate of 0.01%.