Banks, Estonia, Financial Services, Loan
International Internet Magazine. Baltic States news & analytics
Friday, 19.04.2024, 15:02
Profit of Coop Pank totals EUR 4.5 mln in 2017
The bank's
loan portfolio grew 56% and deposit portfolio 24% last year. Coop Pank's market share on the Estonian
banking market in the section of deposits grew from 1.5% to 2% and in the
section of loans from 0.9% to 1.3% on year.
The number of customers increased by 4,600 in 2017 and
at the end of the year the bank had nearly 36,000 clients. In addition, Coop
Finants, a subsidiary that specializes on small loans, had nearly 95,000
customers.
According to the bank's CEO Margus Rink, Coop Pank's biggest goal
for 2018 is increasing operation volumes. He added that the bank is to offer
cash services at Coop stores this spring.
Coop Pank is a bank
based on Estonian capital, which has 14 bank branches across Estonia that offer
services from everyday banking to loans and leasing. In addition, the bank is
opening bank offices in Coop stores across Estonia. Coop Pank along with
its subsidiaries employs approximately 200 people at its headquarters and in 14
offices located across Estonia. Coop Pank 's major owner is Coop
Eesti -- a group consisting of 19 regional consumers' cooperatives that handles
the sales of food and consumer goods and has 350 stores and approximately
600,000 regular customers.