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Coop Pank reports strong May growth in business volumes and profits, secures upgraded rating
🇪🇪 Estonia /Economy & Trade

Coop Pank reports strong May growth in business volumes and profits, secures upgraded rating

From Postimees · () Estonian

Translated from Estonian, summarized and contextualized by DistantNews.

At a glance

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  • Coop Pank saw significant growth in its business volumes and profits in May, with its customer base, deposits, and loan portfolio expanding by nearly a fifth year-on-year.
  • The bank reported a net profit of 2.8 million euros in May, contributing to a 14% increase in profit over the first five months of the year compared to last year.
  • Moody's upgraded the bank's long-term deposit rating to Baa1, affirming its reliability and strong risk management.

Coop Pank experienced robust growth across all its primary business lines in May, demonstrating a strong upward trajectory in both business volumes and profitability. The bank's customer base, total deposits, and loan portfolio all expanded significantly, with year-on-year growth approaching 20% in these key areas.

Home loan portfolio increased by 11 million, business loan portfolio by 26 million, leasing portfolio by 2 million and consumer financing portfolio by 2 million euros.

— Paavo TruuCoop Pank's CFO detailing the growth in different loan segments during May.

Financially, the bank reported a net profit of 2.8 million euros for May. This performance contributed to a notable 14% increase in net profit for the first five months of 2026 compared to the same period in the previous year. This sustained profitability underscores the bank's effective operational strategies.

In addition to the loan portfolio, the deposit volume grew by 57 million euros.

— Paavo TruuCoop Pank's CFO highlighting the increase in customer deposits.

Further bolstering confidence in the institution, the international rating agency Moody's upgraded Coop Pank's long-term deposit rating to Baa1 from Baa2, maintaining a stable outlook. This upgrade serves as a strong affirmation of the bank's reliability and its adept management of risks, even as it pursues consistent growth and profitability.

Loan portfolio quality remained at a good level and the increase in provisions was largely due to new sales and portfolio growth.

— Paavo TruuCoop Pank's CFO explaining the factors influencing loan provisions.

Paavo Truu, Coop Pank's CFO, highlighted the substantial increases in various loan segments, including home loans, business loans, leasing, and consumer financing, which collectively grew by 41 million euros in May. Deposit volumes also saw a significant rise of 57 million euros. Truu noted that the loan portfolio quality remained high, with provisions primarily driven by new sales and overall portfolio expansion. The bank's return on equity stood at 13.9% in May, with a cost-to-income ratio of 47%.

The upgrade...confirms that in addition to growth and profitability, risks are also well managed and the bank has become increasingly reliable over the years.

— Paavo TruuCoop Pank's CFO commenting on the significance of Moody's rating upgrade.
DistantNews Editorial

Originally published by Postimees in Estonian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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