Coop Pank As · OMXTSE:CPA1T
Coop Pank As — Q1 2023 Earnings Presentation
17 slides from Coop Pank As's earnings presentation, Apr 20, 2023
Slide 1: Coop Pank Group 2023 Q1 unaudited results
90057 Coop Pank Group 2023 Qi unaudited results 20.04.2023
Slide 2: Key notes from Q1
Key notes from Q1 * Impact of macroeconomic environment: loan portfolio is increasing but in a slower pace * Trend in deposits: demand deposits are converting into term deposits * Higher euribor rate brings in additional interest revenues but also higher interest costs + Past due portfolio remains a
Slide 3: Loan portfolio, deposits, customers and net profit
m€ +307 +29% m€ +364 +32% +46 +4% +5 +0.3% 1 208 1 301 1 347 1 040 1 131 1 354 1 508 1 513 1 149 1 249 Q1 2022 Q2 Q3 Q4 Q1 2023 Q1 2022 Q2 Q3 Q4 Q1 2023 '000 +15.9 +29% '000 € +5 875 +168% +3.3 +4.9% +2 860 +44% 9 375 131 139 147 155 122 6 515 66.8 70.1 5 747 54.2 58.7 62.4 4 588 3 500 Q1 2022 Q2 Q3
Slide 4: Net operating income and key figures, year on year
• Year on Year Q1 2023 Q1 2022 change • Net operating income ('000 €) 19 661 11 492 +8 169 +71% Interest 18 372 10 595 +7 777 +73% Service fees and commissions 1 028 796 +232 +29% Other 261 101 +160 +158% Operating expenses -7 596 -6 199 -1 397 +23% Operating profit 12 065 5 293 +6 772 +128% Impairm
Slide 5: Net operating income and key figures, quarterly change
• Q1 2023 Q4 2022 Quarterly change • Net operating income ('000 €) 19 661 16 534 +3 127 +19% Interest 18 372 15 765 +2 607 +17% Service fees and commissions 1 028 1 107 -79 -7% Other 261 -338 +599 -177% Operating expenses -7 596 -7 439 -157 +2% Operating profit 12 065 9 095 +2 970 +33% • Impairment
Slide 6: Net loan portfolio by segment
• m€, % 6.6% • 5.7% 5.0% 5.0% • 4.9% • Gross interest of portfolio +307 +29% • +46 +4% 1 347 1 301 1 208 86 89 1 131 136 1 040 80 130 76 123 70 115 105 508 533 473 437 397 503 532 578 589 468 Q1 2022 Q2 Q3 Q4 Q1 2023 Business loans Private mortgage loans Leasing Consumer loans
Slide 7: Gross loan portfolio and interest by segment
m€, % m€, % 5.8% 6.6% 4.7% 4.8% 5.0% 4.1% 5.1% 3.2% 3.1% 3.3% 475 512 541 587 597 473 508 534 398 437 Q1 2022 Q2 Q3 Q4 Q1 2023 Q1 2022 Q2 Q3 Q4 Q1 2023 Gross loan portfolio Gross interest % Gross loan portfolio Gross interest % m€, % m€, % 17.5% 17.3% 17.1% 16.9% 6.0% 16.4% 4.3% 5.1% 4.2% 4.1% 72 79
Slide 8: Past due loans and loss allowances
m€, % • 1.9% 1.7% 1.8% 1.4% 1.5% • 24.0 20.5 20.4 3.1 19.0 1.3 17.5 2.3 1.5 1.8 19.2 20.9 17.4 18.1 15.6 % - 9.2 - 10.0 - 10.5 0.6% 0.6% - 11.9 - 13.0 0.5% 0.4% 0.2% Q1 2022 Q2 Q3 Q4 Q1 2023 Past due 1-90 days Past due over 90 days Q1 2022 Q2 Q3 Q4 Q1 2023 Loss allowances Past due %
Slide 9: Past due loans and loss allowances by segment
m€, % m€, % 1.2% 0.3% 0.3% 0.4% 0.7% 0.9% 1.0% 1.0% 1.0% 1.4% 5.9 7.3 2.6 4.3 4.5 5.0 1.8 1.6 3.7 4.3 0.9 5.8 1.7 1.4 2.1 3.9 - 5.4 - 6.0 4.3 4.7 6.4 - 6.4 - 7.4 - 8.2 3.5 4.1 - 0.4 - 0.5 - 0.5 - 0.5 - 0.6 Q1 2022 Q2 Q3 Q4 Q1 2023 Q1 2022 Q2 Q3 Q4 Q1 2023 m€, % m€, % 8.3% 8.2% 7.9% 7.8% 5.0% 5.4% 7.
Slide 10: Deposits and total cost of financing
m€ • Total cost of financing • 1.4% 0.9% • 0.7% 0.5% 0.5% • +364 +32% +5 +0.3% • 1 508 1 513 1 354 1 249 1 149 717 616 % 672 617 575 50% 50% 49% 48% 41% 791 896 574 632 682 Q1 2022 Q2 Q3 Q4 Q1 2023 Term deposits Demand deposits Q1 2022 Q2 Q3 Q4 Q1 2023
Slide 11: Clients and market share of deposits and loans
• '000 +32.8 +27% +8.2 +5.6% • 139 147 155 122 131 • • Q1 2022 Q2 Q3 Q4 Q1 2023 • '000 +15.9 +29% market share % 5.5% 5.6% 5.1% 5.2% +3.3 +4.9% 4.9% 5.5% 5.5% 66.8 70.1 5.0% 58.7 62.4 4.6% 54.2 4.2% Market share of deposits Market share of loans Q1 2022 Q2 Q3 Q4 Q1 2023 Q1 2022 Q2 Q3 Q4 Q1 2023 Clie
Slide 12: Capital adequacy and liquidity
m€, % % 17.8% 17.4% 16.7% 16.7% 176% 175% 160% 161% 13.0% 153% 946 896 851 805 717 100% 100% 100% 100% 100% 135 142 160 164 120 Q1 2022 Q2 Q3 Q4 Q1 2023 Q1 2022 Q2 Q3 Q4 Q1 2023 Total eligible capital RWA Capital adequacy ratio LCR Regulatory minimum
Slide 13: Cost / income ratio and ROE
Cost / Income ratio % • • 54% 52% • 50% 45% 39% • ROE % • • 24.4% 19.1% 19.2% 15.8% 12.3% Q1 2022 Q2 Q3 Q4 Q1 2023
Slide 14: Shareholder distribution of Coop Pank as at 31.03.2023
'000 Shareholder distribution of Coop Pank as at 31.03.2023 +6.6 +22% Coop +0.5 +1.3% Investeeringud 22% 36.5 Others 36.0 43% 29.9 30.0 30.2 Cooperatives 19% Tallinna linnakantselei 3% CM Capital Andres Sonn Q1 2022 Q2 Q3 Q4 Q1 2023 5% 8%
Slide 15: Share price, EPS and trading volume
• Share price €, 4.20 trading volume thousand shares 3.52 2.99 2.79 2.68 2.27 2.32 2.46 • 1.79 2.89 1.21 942 2.27 2.27 • • 12.19 06.20 12.20 06.21 12.21 06.22 12.22 EPS € m€ 0.092 283 244 250 0.068 212 207 0.063 0.050 0.038 Q1 2022 Q2 Q3 Q4 Q1 2023 Q1 2022 Q2 Q3 Q4 Q1 2023
Slide 16: Summary: Q1 2023 results
Summary: Q1 2023 results coop * Business volumes continue to grow ca +30% YoY * Net profit 9.4m€ (+168% YoY) * CIR 39% (Q1 2022 54%) * ROE 24.4% (Q1 2022 12.3%) 9.4m€ profit ROE 24.4%
Slide 17: Margus Rink, Paavo Truu
Margus Rink Chairman of Board, CEO margus.rink@cooppank.ee Paavo Truu Member of Board, CFO paavo.truu@cooppank.ee https://www.cooppank.ee/en/for-investors