Coop Pank As · OMXTSE:CPA1T
Coop Pank As — Q1 2024 Earnings Presentation
17 slides from Coop Pank As's earnings presentation, Apr 18, 2024
Slide 1: Coop Pank Group 2024 Q1 unaudited results
90057 Coop Pank Group 2024 Qi unaudited results 18.04.2024
Slide 2: • • • • • •
• • • • • •
Slide 3: Loans, deposits and customers development
m€ +184 +14% m€ +181 +12% +40 +2,7% -29 -1,7% 1 531 1 755 1 707 1 722 1 494 1 491 1 693 1 458 1 513 1 347 Q1 2023 Q2 Q3 Q4 Q1 2024 Q1 2023 Q2 Q3 Q4 Q1 2024 '000 +14 +20% m€ -0,2 -2,5% +2,4 +2,9% +0,8 +9% 182 189 10,4 11,1 155 167 175 9,4 9,1 8,4 70,2 76,2 77,4 82,0 84,4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q1 2
Slide 4: Net operating income and net loan portfolio, quarterly change
• Q1 2024 Q4 2023 Quarterly change • Net operating income ('000 €) 20 221 20 417 -196 -1% Interest 19 082 20 594 -1 512 -7% incl interest income 34 518 35 029 -511 -1% • incl interest expense -15 436 -14 435 -1 001 +7% Service fees and commissions 1 014 1 489 -475 -32% Other 125 -1 666 +1 791 -108%
Slide 5: Net operating income and net loan portfolio, year on year
• Q1 2024 Q1 2023 Year on Year • change Net operating income ('000 €) 20 221 19 661 +560 +3% Interest 19 082 18 372 +710 +4% incl interest income 34 518 23 851 +10 667 +45% incl interest expense -15 436 -5 479 -9 957 +182% Service fees and commissions 1 014 1 028 -14 -1% Other 125 261 -136 -52% • Op
Slide 6: Loan portfolio by segment and gross interest
• m€, % 7,2% 7,7% 7,9% 7,9% • 6,6% • Gross interest of portfolio • • +184 +14% +40 +2,7% 1 494 1 491 1 531 1 458 1 347 96 95 94 97 149 153 163 89 152 136 567 586 602 622 533 589 642 662 641 651 Q1 2023 Q2 Q3 Q4 Q1 2024 Business loans Private mortgage loans Leasing Consumer loans
Slide 7: Loan portfolio by product and gross interest
m€, % m€, % 7,3% 7,8% 8,1% 8,0% 6,6% 5,8% 6,3% 6,6% 6,6% 5,1% 597 651 672 650 661 534 568 587 603 623 Q1 2023 Q2 Q3 Q4 Q1 2024 Q1 2023 Q2 Q3 Q4 Q1 2024 Gross loan portfolio Gross interest % Gross loan portfolio Gross interest % m€, % m€, % 7,2% 7,5% 7,5% 6,0% 6,8% 16,4% 15,8% 15,5% 15,3% 14,8% 93 10
Slide 8: Past due loans and loss allowances
• m€, % 1,8% 2,0% 2,1% 2,0% 2,4% • 36,5 32,2 30,1 30,6 5,1 3,6 24,0 3,1 4,1 3,1 28,5 31,3 27,0 26,5 20,9 % - 13,0 0,6% - 14,9 - 15,6 - 16,4 - 16,5 0,5% 0,3% 0,3% Q1 2023 Q2 Q3 Q4 Q1 2024 0,2% Past due 1-90 days Past due over 90 days Loss allowances Past due % Q1 2023 Q2 Q3 Q4 Q1 2024
Slide 9: Past due loans and loss allowances by segment
m€, % m€, % 1,4% 1,9% 1,8% 2,0% 2,7% 0,7% 1,0% 1,3% 0,8% 0,9% 16,5 12,2 1,5 8,4 10,7 10,5 6,8 5,3 6,2 0,9 4,3 7,3 0,9 4,0 4,9 15,0 9,8 9,6 11,3 - 8,2 - 9,2 - 9,6 - 10,0 - 9,7 6,4 - 0,6 - 0,9 - 1,1 - 1,3 - 1,5 Q1 2023 Q2 Q3 Q4 Q1 2024 Q1 2023 Q2 Q3 Q4 Q1 2024 m€, % m€, % 8,1% 8,5% 8,3% 7,8% 7,6% 3,8%
Slide 10: Deposits and total cost of financing
• m€ 3,5% • Total cost of financing 3,3% 2,9% • 2,1% 1,5% • +181 +12% -29 -2% • 1 755 1 707 1 722 1 693 • 1 513 585 531 494 508 616 % 41% 1 170 1 176 1 228 1 185 33% 31% 29% 30% 896 Q1 2023 Q2 Q3 Q4 Q1 2024 Term deposits Demand deposits Q1 2023 Q2 Q3 Q4 Q1 2024
Slide 11: Clients and market share of deposits and loans
• '000 +34 +22% +7 +3,8% • 175 182 189 155 167 • • Q1 2023 Q2 Q3 Q4 Q1 2024 • '000 +14,2 +20% market share % +2,4 +2,9% 5,7% 6,0% 6,0% 6,0% 6,1% 76,2 77,4 82,0 84,4 6,3% 6,1% 6,0% 6,0% 70,2 5,5% Market share of deposits Market share of loans Q1 2023 Q2 Q3 Q4 Q1 2024 Q1 2023 Q2 Q3 Q4 Q1 2024 Clients
Slide 12: Capital adequacy and liquidity coverage
m€, % % 20,4% 19,6% 301% 298% 17,4% 17,4% 17,8% 260% 1 077 1 042 1 021 1 041 224% 946 175% 100% 100% 100% 100% 100% 181 192 200 212 164 Q1 2023 Q2 Q3 Q4 Q1 2024 Q1 2023 Q2 Q3 Q4 Q1 2024 Total eligible capital RWA Capital adequacy ratio LCR Regulatory minimum
Slide 13: Cost / Income ratio and ROE
• Cost / Income ratio % • • 49% 47% 40% 39% 38% • ROE % • 25,6% 25,9% 24,4% • 18,5% 19,2% • Q1 2023 Q2 Q3 Q4 Q1 2024
Slide 14: Shareholder distribution of Coop Pank as at 31.03.2024
'000 Shareholder distribution of Coop Pank as at 31.03.2024 +0,6 +2% Coop Investeeringud +0,0 +0,0% 22% Others 43% 37,2 37,1 37,1 37,0 Cooperatives 19% 36,5 Tallinna linnakantselei 3% CM Capital Andres Sonn 5% 8% Q1 2023 Q2 Q3 Q4 Q1 2024
Slide 15: Share price, P/B, EPS and P/E
Share price €, P/B € trading volume thousand shares 1,78 4,20 1,60 2,99 2,46 1,47 1,30 1,24 2,36 2,36 1,07 1,17 942 Q1 2023 Q2 Q3 Q4 Q1 2024 12.19 06.20 12.20 06.21 12.21 06.22 12.22 06.23 12.23 EPS € (quarterly) P/E € (TTM) 0,102 0,108 10,2 0,092 0,089 0,082 8,0 6,9 6,1 6,2 Q1 2023 Q2 Q3 Q4 Q1 2024
Slide 16: 9.1 m€ profit, ROE 19.2%
9.1 m€ profit ROE 19.2%
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