Coop Pank As · OMXTSE:CPA1T
Coop Pank As — Q3 2024 Earnings Presentation
19 slides from Coop Pank As's earnings presentation, Oct 18, 2024
Slide 1: Coop Pank Group 2024 Q3 unaudited results
0005 Coop Pank Group 2024 QS unaudited results 18.10.2024
Slide 2: • • • • •
• • • • •
Slide 3: Loans, deposits and customers development
m€ +167 +11% m€ +132 +8% +40 +2,5% +99 +5,7% 1 621 1 661 1 839 1 494 1 491 1 531 1 707 1 722 1 693 1 740 Q3 2023 Q4 Q1 Q2 Q3 2024 Q3 2023 Q4 Q1 Q2 Q3 2024 '000 +13 +16% m€ -2,4 -21,9% +0,6 +0,7% +0,7 +8% 11,1 175 182 189 196 202 8,4 9,1 8,6 8,0 77,4 82,0 84,4 89,5 90,1 Q3 2023 Q4 Q1 Q2 Q3 2024 Q3 20
Slide 4: Quarterly results Q3 2024 vs Q2 2024
• Quarterly Q3 2024 Q2 2024 change Net operating income ('000 €) 21 228 20 465 +763 +4% • Interest 20 021 19 319 +702 +4% incl interest income 35 342 34 691 +651 +2% • incl interest expense -15 321 -15 372 +51 -0% Service fees and commissions 1 040 1 000 +40 +4% • Other 167 146 +21 +14% Operating ex
Slide 5: Year on year results Q3 2024 vs Q3 2023
• Year on Year Q3 2024 Q3 2023 change • Net operating income ('000 €) 21 228 22 738 -1 510 -7% • Interest 20 021 21 257 -1 236 -6% incl interest income 35 342 33 286 +2 056 +6% incl interest expense -15 321 -12 029 -3 292 +27% • Service fees and commissions 1 040 1 147 -107 -9% Other 167 334 -167 -5
Slide 6: Net loan portfolio by segment
• m€, % • 7,7% 7,9% 7,9% 7,8% 7,5% • Gross interest of portfolio • • +167 +11% +40 +2,5% 1 621 1 661 1 494 1 491 1 531 105 103 101 100 99 171 174 149 153 163 654 685 581 597 617 662 641 651 693 697 Q3 2023 Q4 Q1 Q2 Q3 2024 Business loans Private mortgage loans Leasing Consumer loans
Slide 7: Gross loan portfolio and interest by segment
m€, % m€, % 7,8% 8,1% 8,2% 8,1% 7,9% 6,3% 6,7% 6,7% 6,5% 6,3% 672 650 661 703 707 583 598 618 655 687 Q3 2023 Q4 Q1 Q2 Q3 2024 Q3 2023 Q4 Q1 Q2 Q3 2024 Gross loan portfolio Gross interest % Gross loan portfolio Gross interest % m€, % m€, % 7,2% 7,5% 7,6% 7,3% 7,1% 15,5% 14,5% 14,3% 13,9% 13,5% 105 1
Slide 8: Loan portfolio quality and past due
• m€, % 2,1% 2,0% 2,4% 2,2% 2,4% • 40,3 • 36,5 36,7 4,7 32,2 4,7 30,6 5,1 3,6 4,1 35,5 31,3 32,0 28,5 26,5 % 0,3% - 15,6 - 16,4 - 16,5 - 17,0 - 17,5 0,3% 0,3% 0,2% 0,2% Q3 2023 Q4 Q1 Q2 Q3 2024 Past due 1-90 days Past due over 90 days Loss allowances Past due % Q3 2023 Q4 Q1 Q2 Q3 2024
Slide 9: Past due and loss allowances by segment
m€, % m€, % 1,7% 2,0% 2,6% 2,5% 2,4% 1,3% 0,8% 0,9% 0,9% 1,6% 16,1 16,4 16,3 11,0 8,4 6,2 6,2 11,8 1,3 1,4 1,2 5,3 10,1 5,3 9,7 14,8 14,9 15,2 9,4 11,1 - 9,6 - 10,0 - 9,7 - 10,1 - 10,3 - 0,9 - 1,1 - 1,2 - 1,4 - 1,5 Q3 2023 Q4 Q1 Q2 Q3 2024 Q3 2023 Q4 Q1 Q2 Q3 2024 m€, % m€, % 8,1% 8,5% 8,3% 8,4% 7,8
Slide 10: Deposits and cost of financing
• • m€ Total cost of financing 3,5% 3,4% • 3,3% 3,3% 2,9% • • +132 +8% • +99 +6% 1 839 1 707 1 722 1 693 1 740 494 583 531 508 563 % 31% 32% 32% 29% 30% 1 176 1 228 1 185 1 177 1 256 Q3 2023 Q4 Q1 Q2 Q3 2024 Term deposits Demand deposits Q3 2023 Q4 Q1 Q2 Q3 2024
Slide 11: Interest margins, income and expense
% m€ 7,1% 7,0% 7,0% 35,3 6,8% 6,9% 35,0 34,5 34,7 6,4% 33,3 5,6% 28,5 4,8% 23,9 4,6% 4,1% 4,1% 4,2% 4,1% 4,0% 3,9% 3,9% 19,3 3,6% 3,6% 3,6% 21,0 21,3 20,6 15,0 19,3 20,0 18,4 19,1 3,3% 3,5% 3,5% 3,5% 3,4% 13,4 3,2% 3,3% 12,4 15,8 15,4 15,4 15,3 2,7% 14,4 12,7 12,0 11,6 10,6 1,8% 1,4% 7,4 1,0% 5,5 0,
Slide 12: Active clients and market share
• '000 +26 +15% +6 +2,8% • 202 196 189 182 175 • • Q3 2023 Q4 Q1 Q2 Q3 2024 • '000 +12,7 +16% market share % +0,6 +0,7% 6,0% 6,0% 6,1% 6,3% 6,3% 89,5 90,1 6,1% 6,0% 5,8% 5,8% 6,1% 82,0 84,4 77,4 Market share of deposits Market share of loans Q3 2023 Q4 Q1 Q2 Q3 2024 Q3 2023 Q4 Q1 Q2 Q3 2024 Clients
Slide 13: Capital adequacy
m€ % 19,6% 20,4% 19,4% 19,0% 17,8% +27 +14% 15,6% 16,1% 16,3% 16,3% 16,3% -0 -0,1% Total (%) Regulatory minimum + P2G (%) 220 219 219 200 % 192 35 35 35 22 17,5% 17,2% 16,3% 22 15,8% 16,0% 28 28 28 28 28 13,0% 13,5% 13,6% 13,6% 13,6% T1 (%) Regulatory minimum + P2G (%) 142 150 157 156 155 % 13,2% 14
Slide 14: Liquidity, LCR and NSFR
m€; % 23% % 22% 21% 21% 18% 293% 297% 260% 465 437 442 417 209% 205% 373 150% 134% 131% 402 426 402 125% 125% 378 334 100% 100% 100% 100% 100% Q3 2023 Q4 Q1 Q2 Q3 2024 Bonds Cash, balances with other fin. institutions Q3 2023 Q4 Q1 Q2 Q3 2024 Cash, balances with central banks Liquid assets / total a
Slide 15: Cost / income ratio and ROE
• Cost / Income ratio % • • 49% 49% 48% 47% 40% • ROE % • 25,9% • 19,2% • 18,5% 16,4% 17,3% Q3 2023 Q4 Q1 Q2 Q3 2024
Slide 16: Shareholder distribution as at 30.09.2024
'000 Shareholder distribution of Coop Pank as at 30.09.2024 -0,8 -2% Coop Investeeringud -0,5 -1,5% 22% Others 37,2 37,1 37,1 36,9 43% 36,4 Cooperatives 19% Tallinna linnakantselei 3% CM Capital Andres Sonn 5% 8% Q3 2023 Q4 Q1 Q2 Q3 2024
Slide 17: Share price, P/B, EPS and P/E
Share price €, P/B € trading volume thousand shares 4,20 2,99 2,46 1,47 1,30 1,24 2,36 1,11 2,111,93 0,97 1,07 1,17 942 Q3 2023 Q4 Q1 Q2 Q3 2024 12.19 06.20 12.20 06.21 12.21 06.22 12.22 06.23 12.23 06.24 EPS € (quarterly) P/E € (TTM) 0,108 6,9 0,089 6,1 6,2 5,9 5,8 0,082 0,078 0,084 Q3 2023 Q4 Q1 Q
Slide 18: 8.6 m€ profit, ROE 17%
8.6 m€ profit ROE 17%
Slide 19: 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