Coop Pank As · OMXTSE:CPA1T
Coop Pank As — Q3 2023 Earnings Presentation
17 slides from Coop Pank As's earnings presentation, Oct 20, 2023
Slide 1: Coop Pank Group 2023 Q3 unaudited results
90057 Coop Pank Group 2023 QS unaudited results 20.10.2023
Slide 2: Key notes from Q3
Key notes from Q3 . . . . . . Loan portfolio increased moderately After the successful increase of deposits in June, correction took place during Q3. Interest rates on deposits continue to rise. The loan portfolio quality remains high. Short term debt has slightly increased. Record high quarterly pr
Slide 3: Loan portfolio, deposits, customers and net profit
m€ +286 +24% m€ +353 +26% +36 +2% -48 -2.7% 1 755 1 707 1 458 1 494 1 354 1 508 1 513 1 208 1 301 1 347 Q3 2022 Q4 Q1 Q2 Q3 2023 Q3 2022 Q4 Q1 Q2 Q3 2023 '000 +15.0 +24% '000 € +5 329 +93% +1.2 +1.6% +710 +7% 10 366 11 076 147 155 167 175 9 375 139 66.8 70.2 76.2 77.4 5 747 6 515 62.4 Q3 2022 Q4 Q1
Slide 4: Net operating income and net loan portfolio, year on year
• Year on Year Q3 2023 Q3 2022 change • Net operating income ('000 €) 22 738 13 847 +8 891 +64% Interest 21 257 12 721 +8 536 +67% • incl interest income 33 286 15 011 +18 274 +122% incl interest expense -12 029 -2 290 -9 739 +425% Service fees and commissions 1 147 978 +169 +17% Other 334 148 +186
Slide 5: Net operating income and net loan portfolio, quarterly change
• Q3 2023 Q2 2023 Quarterly change • Net operating income ('000 €) 22 738 22 390 +348 +2% Interest 21 257 21 044 +213 +1% incl interest income 33 286 28 486 +4 800 +17% incl interest expense -12 029 -7 442 -4 587 +62% Service fees and commissions 1 147 1 183 -36 -3% Other 334 163 +171 +105% Operatin
Slide 6: Loan portfolio by type and gross interest
• m€, % 7.2% 7.7% • 6.6% • 5.7% 5.0% • Gross interest of portfolio • +286 +24% +36 +2% 1 458 1 494 1 301 1 347 97 96 1 208 89 152 149 86 80 130 136 123 567 586 508 533 473 578 589 642 662 532 Q3 2022 Q4 Q1 Q2 Q3 2023 Business loans Private mortgage loans Leasing Consumer loans
Slide 7: Gross loan portfolio and interest by loan segment
m€, % m€, % 7.3% 7.8% 5.8% 6.6% 5.8% 6.3% 5.0% 4.1% 5.1% 3.3% 541 587 597 651 672 534 568 587 473 508 Q3 2022 Q4 Q1 Q2 Q3 2023 Q3 2022 Q4 Q1 Q2 Q3 2023 Gross loan portfolio Gross interest % Gross loan portfolio Gross interest % m€, % m€, % 7.2% 6.0% 6.8% 17.1% 16.9% 16.4% 15.8% 15.5% 5.1% 4.3% 89 93
Slide 8: Past due loans and loss allowances
• m€, % • 1.8% 2.0% 2.1% 1.4% 1.5% 32.2 30.1 3.6 24.0 3.1 20.4 3.1 17.5 2.3 1.8 27.0 28.5 20.9 15.6 18.1 % - 10.5 0.6% 0.6% - 11.9 - 13.0 - 14.9 - 15.6 0.5% 0.3% 0.2% Q3 2022 Q4 Q1 Q2 Q3 2023 Past due 1-90 days Past due over 90 days Q3 2022 Q4 Q1 Q2 Q3 2023 Loss allowances Past due %
Slide 9: Past due and loss allowances by segment
m€, % m€, % 1.0% 1.3% 1.0% 1.0% 1.4% 1.9% 1.8% 0.3% 0.4% 0.7% 8.4 10.7 10.5 6.8 2.6 4.3 7.3 0.9 0.9 1.6 5.0 6.6 7.5 4.5 0.9 9.8 9.6 - 6.4 - 7.4 - 8.2 - 9.2 - 9.6 4.3 4.7 6.4 - 0.5 - 0.5 - 0.6 - 0.9 - 1.1 Q3 2022 Q4 Q1 Q2 Q3 2023 Q3 2022 Q4 Q1 Q2 Q3 2023 m€, % m€, % 8.2% 7.9% 7.8% 7.6% 8.1% 3.6% 4.2%
Slide 10: Deposits and cost of financing
• m€ • Total cost of financing 2.7% • 1.8% 1.4% • 0.9% 0.7% +353 +26% • -48 -3% • 1 755 1 707 1 508 1 513 1 354 585 531 717 616 % 672 50% 48% 41% 1 170 1 176 33% 896 31% 682 791 Q3 2022 Q4 Q1 Q2 Q3 2023 Term deposits Demand deposits Q3 2022 Q4 Q1 Q2 Q3 2023
Slide 11: Clients and market share
• '000 +36.3 +26% +7.9 +4.7% • 167 175 139 147 155 • • Q3 2022 Q4 Q1 Q2 Q3 2023 • '000 +15.0 +24% market share % +1.2 +1.6% 6.3% 6.1% 5.5% 5.7% 5.2% 76.2 77.4 6.0% 6.1% 62.4 66.8 70.2 5.5% 5.5% 5.0% Market share of deposits Market share of loans Q3 2022 Q4 Q1 Q2 Q3 2023 Q3 2022 Q4 Q1 Q2 Q3 2023 Clie
Slide 12: Capital adequacy and liquidity
m€, % % 17.8% 17.4% 17.4% 17.8% 16.7% 260% 224% 1 077 1 042 946 176% 175% 896 157% 851 100% 100% 100% 100% 100% 164 181 192 142 160 Q3 2022 Q4 Q1 Q2 Q3 2023 Q3 2022 Q4 Q1 Q2 Q3 2023 LCR Regulatory minimum Total eligible capital RWA Capital adequacy ratio
Slide 13: Cost / Income ratio and ROE
• Cost / Income ratio % • • 50% 45% 40% 39% 38% • ROE % • 25.9% 24.4% 25.6% • 19.1% 19.2% Q3 2022 Q4 Q1 Q2 Q3 2023
Slide 14: Shareholder distribution as at 30.09.2023
'000 Shareholder distribution of Coop Pank as at 30.09.2023 +7.0 +23% Coop Investeeringud +0.2 +0.5% 22% 37.0 37.2 Others 36.0 36.5 43% 30.2 Cooperatives 19% Tallinna linnakantselei 3% CM Capital Andres Sonn 5% 8% Q3 2022 Q4 Q1 Q2 Q3 2023
Slide 15: Share price, P/B, EPS and P/E
Share price €, 4.20 P/B € trading volume thousand shares3.52 1.69 1.67 1.78 2.99 1.60 2.79 2.60 1.47 2.68 2.54 2.27 2.32 1.79 2.89 1.21 942 2.27 2.27 2.46 Q3 2022 Q4 Q1 Q2 Q3 2023 12.19 06.20 12.20 06.21 12.21 06.22 12.22 06.23 EPS € (quarterly) P/E € (TTM) 0.102 0.108 12.1 0.092 11.3 10.2 0.063 0.0
Slide 16: Summary: Q3 2023 results
Summary: Q3 2023 results coop * Loan volumes continue to grow +24% YoY * Net profit 11.1m€ (+93% YoY) * CIR 40% (Q3 2022 50%) * ROE 25.9% (Q3 2022 19.1%) 11.1m€ profit ROE 25.9%
Slide 17: Margus Rink
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