Coop Pank As · OMXTSE:CPA1T
Coop Pank As — Q2 2023 Earnings Presentation
17 slides from Coop Pank As's earnings presentation, Jul 20, 2023
Slide 1: Coop Pank Group 2023 Q2 unaudited results
Coop Pank Group 2023 Q2 unaudited results 20.07.2023
Slide 2: Key notes from Q2
Key notes from Q2 • Loan portfolio increased in all business lines (business loans, private mortgage, leasing, consumer loans) • Interest income is growing due to increase in business volumes and euribor • Demand deposits are converting to term deposits, term deposits carry a higher price (increase
Slide 3: Business volumes in quarterly comparison
Business volumes in quarterly comparison Loans Deposits m€ +327 +29% m€ +506 +41% +111 +8% +242 +16.0% 1 755 1 458 1 354 1 508 1 513 1 208 1 301 1 347 1 249 1 131 Q2 2022 Q3 Q4 Q1 Q2 2023 Q2 2022 Q3 Q4 Q1 Q2 2023 Active customers Net profit '000 +17.4 +30% '000 € +5 778 +126% +6.0 +8.6% +991 +11% 16
Slide 4: Results of Q2 2023 compared to Q2 2022
Results of Q2 2023 compared to Q2 2022 Key indicators in year-on-year comparison • Revenues +9.6m€ (+76%) Year on Year Q2 2023 Q2 2022 change • Net interest increased +9.4m€ as loan portfolio grew by Net operating income ('000 €) 22 390 12 757 +9 633 +76% 327m€ and euribor increased Interest 21 044
Slide 5: Results of Q2 2023 compared to Q1 2023
Results of Q2 2023 compared to Q1 2023 Key indicators in quarterly comparison • Revenues +2.7m€ (+14%) Q2 2023 Q1 2023 Quarterly change • Net interest +2.7m€ due to increased loan portfolio Net operating income ('000 €) 22 390 19 661 +2 729 +14% (+111 m€) and higher euribor Interest 21 044 18 372 +2
Slide 6: Loan portfolio continues to grow
Loan portfolio continues to grow Net loan portfolio • Quarterly growth of loan portfolio +111m€ (+8%) m€, % 6.6% 7.2% • Business loans +53m€ (+9%) 5.7% • Private mortgage loans +34m€ (+6%) 5.0% 4.9% • Leasing +17m€ (+12%) Gross interest of portfolio • Consumer loans +8m€ (+9%) +327 +29% +111 +8% 1 4
Slide 7: Loan portfolio interest by business lines
Loan portfolio interest by business lines Business loans Private mortgage loans m€, % m€, % 6.6% 7.3% 5.0% 5.8% 5.1% 5.8% 4.8% 4.1% 3.1% 3.3% 541 587 597 651 534 568 512 437 473 508 Q2 2022 Q3 Q4 Q1 Q2 2023 Q2 2022 Q3 Q4 Q1 Q2 2023 Gross loan portfolio Gross interest % Gross loan portfolio Gross int
Slide 8: Quality of loan portfolio
Quality of loan portfolio Loans past due and loss allowances in balance sheet • Past due portfolio at a 2.0% level, what is similar to year 2021 m€, % number (2.0%) 1.7% 1.8% 2.0% • Short term debt has slightly increased 1.4% 1.5% • Credit risk cost ratio 0.6% in Q2 2023 30.1 24.0 3.1 19.0 20.4 3.1
Slide 9: Loan portfolio quality by business lines
Loan portfolio quality by business lines Business loans Private mortgage loans m€, % m€, % 1.0% 1.0% 1.0% 1.0% 1.4% 1.9% 0.3% 0.3% 0.4% 0.7% 10.7 6.8 2.6 4.3 7.3 0.9 1.8 1.6 5.0 6.6 4.3 4.5 0.9 3.9 9.8 - 6.0 - 6.4 - 7.4 - 8.2 - 9.2 4.1 4.3 4.7 6.4 - 0.5 - 0.5 - 0.5 - 0.6 - 0.9 Q2 2022 Q3 Q4 Q1 Q2 20
Slide 10: Interest costs of deposits are increasing
Interest costs of deposits are increasing Deposits • Deposits grew by +242m€ (+16%) in Q2 m€ Total cost of financing • +125m€ from private clients 1.8% (-30m€ demand deposits, +155m€ term deposits) 1.4% • +107m€ from business clients 0.9% (-1m€ demand deposits, +108m€ term deposits) 0.7% 0.5% • +10m
Slide 11: Client base and market share
Client base and market share Total no of clients with bank account • No of clients increased by 12 000 (+7.8%) '000 +36.6 +28% (+8200 in Q1 2023) +12.0 +7.8% • 6000 (+8.6%) new active clients in Q2 2023 155 167 (+3300 in Q1 2023) 131 139 147 • Bank’s market share changed in Q2 2023* • Market share o
Slide 12: Capital base supports growth plans
Capital base supports growth plans Quarterly capitalization Liquidity coverage ratio (LCR) m€, % % 17.8% 17.4% 16.7% 16.7% 15.6% % 1 042 % % 946 0% % 896 851 805 135 142 160 164 162 Q2 2022 Q3 Q4 Q1 Q2 2023 Total eligible capital RWA Capital adequacy ratio e lator minim m
Slide 13: Performance indicators
Performance indicators Cost / income ratio (CIR) and ROE • Decreasing CIR (long term goal <50%) Cost / Income ratio % • Revenues +2.7m€ (+14%) 52% • Costs +1.0m€ (+13%) 50% 45% 39% 38% • Increasing ROE (long term goal >15%) ROE % • Growing business volumes support scale effect in costs • Rising euri
Slide 14: Shareholders
Shareholders No of Coop Pank shareholders TOP shareholders '000 Shareholder distribution of Coop Pank as at 30.06.2023 +7.0 +23% Coop Investeeringud +0.5 +1.3% 22% Others 36.0 36.5 37.0 43% 30.0 30.2 Cooperatives 19% Tallinna linnakantselei 3% CM Capital Andres Sonn 5% 8% Q2 2022 Q3 Q4 Q1 Q2 2023
Slide 15: Share price
Share price Coop Pank share price and trading volume by dates P/B ratio Share price €, 4.20 P/B € trading volume thousand shares 3.52 1.80 1.69 1.78 1.67 1.60 2.99 2.79 2.60 2.68 2.27 2.32 1.79 2.89 1.21 942 2.27 2.27 2.46 Q2 2022 Q3 Q4 Q1 Q2 2023 12.19 06.20 12.20 06.21 12.21 06.22 12.22 06.23 Net
Slide 16: Summary: Q2 2023 results
Summary: Q2 2023 results • Business volumes continue to grow ca +30% YoY • Net profit 10.4m€ (+126% YoY) • CIR 38% (Q2 2022 52%) • ROE 25.6% (Q2 2022 15.8%) . m€ profit ROE 25.6%
Slide 17: Margus Rink, Paavo Truu contact details
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