Coop Pank’s financial results in
- In October, the number of the bank's clients increased by 2,100 and reached 82,000 by the end of the month. Customer base has grown by 41% over the year.
- The volume of the bank's customer deposits increased by
61 million euros , reaching749 million euros by the end of October. Over the year, the volume of bank deposits has grown by 51%. - The bank's net loan portfolio increased by
27 million euros over the month and reached626 million euros by the end of October. The loan portfolio has grown by 47% over the year. - Impairment losses on loans was
0.3 million euros in October. - In October, the bank earned a net profit of
738 thousand euros . - Compared to the 10 months of 2019, the bank's net income has increased by + 33%, expenses by + 17% and net profit by + 22% this year.
Comment by
"
As the bank's business volumes grow rapidly, so do our revenues. At the same time, our cost growth is slower, and our provisions are conventional. Due to growth of domestic demand deposits, our financing cost will decrease, which was 1% last year and fell to 0.9% this year. Our return on equity was 9.2% in October."
More detailed quarterly reports of
Additional information:
Kerli Lõhmus
CFO
Phone: +372 669 0902
E-mail: kerli.lohmus@cooppank.ee
Attachment
Coop Pank 2020-10_EN
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