Banks, Estonia, Financial Services, Loan

International Internet Magazine. Baltic States news & analytics Wednesday, 20.02.2019, 03:35

Profit of Coop Pank totals EUR 4.5 mln in 2017

BC, Tallinn, 06.02.2018.Print version
The net profit of Coop Pank, former Krediidipank in Estonia, in 2017 totaled 4.5 million euros, including an extraordinary profit of 3.2 million euros from the sale of real estate, informs LETA/BNS.

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 RinkCoop 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.


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