Coop Pank As · OMXTSE:CPA1T
Coop Pank As — Q3 2022 Earnings Presentation
17 slides from Coop Pank As's earnings presentation, Oct 19, 2022
Slide 1: Coop Pank Group 2022 Q3 unaudited results
Coop Pank Group 2022 Q3 unaudited results 19.10.2022
Slide 2: Key notes from Q3
Key notes from Q3 • Attracting deposits demands greater effort and higher interest cost • Growth of loan portfolio continued but first signs of decrease in demand are visible • Higher euribor rate brings in additional interest revenues • Past due portfolio remains at low level, loan provisions minim
Slide 3: Business volumes in quarterly comparison
Business volumes in quarterly comparison Loans Deposits m€ +354 +41% m€ +368 +37% +77 +7% +106 +8% 1 131 1 208 1 354 953 1 040 1 149 1 249 854 987 1 099 Q3 2021 Q4 Q1 Q2 Q3 2022 Q3 2021 Q4 Q1 Q2 Q3 2022 Active customers Net profit '000 +14.6 +30% '000 € +1 445 +34% +3.7 +6% +1 159 +25% 122 131 139 1
Slide 4: Results of Q3 2022 – compared to Q3 2021
Results of Q3 2022 – compared to Q3 2021 Key indicators in year on year comparison • Revenues +3.5m€ (+34%) Q3 Q3 Year on Year • Net interest increased +3.4m€ as loan portfolio 2022 2021 change grew by 354m€ and euribor increased Net operating income ('000 €) 13 847 10 327 +3 520 +34% Interest 12 72
Slide 5: Results of Q3 2022 – compared to Q2 2022
Results of Q3 2022 – compared to Q2 2022 Key indicators in quarterly comparison • Revenues +1.1m€ (+9%) Q3 Q2 Quarterly • Net interest +1.1m€ (+9%), loan portfolio +77m€, 2022 2022 change increasing euribor Net operating income ('000 €) 13 847 12 757 +1 090 +9% Interest 12 721 11 629 +1 092 +9% Serv
Slide 6: Loan portfolio continues to grow
Loan portfolio continues to grow Net loan portfolio • Quarterly growth of loan portfolio +77m€ (+7%) m€, % • Private mortgage loans +36m€ (+8%) • Business loans +29m€ (+6%) 5.4% 5.1% 5.0% 5.0% • Leasing +8m€ (+7%) 4.9% Gross interest of portfolio • Consumer loans +4m€ (+7%) +354 +41% +77 +7% 1 208 1
Slide 7: Loan portfolio interest by business lines
Loan portfolio interest by business lines Business loans Private mortgage loans m€, % m€, % 4.9% 4.8% 4.7% 4.8% 5.0% 3.4% 3.3% 3.2% 3.1% 3.3% 430 475 512 541 366 398 437 473 369 337 Q3 2021 Q4 Q1 Q2 Q3 2022 Q3 2021 Q4 Q1 Q2 Q3 2022 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 remains at a low 1.4% m€, % • Credit risk cost ratio 0.2% in Q3 2022 2.0% 2.2% 1.9% 1.7% 1.4% 21.1 20.5 19.0 17.5 16.9 2.1 1.3 1.5 1.8 2.8 Credit risk cost ratio 19.0 19.2 17.4 14.1 15.6 % 0.6% - 8.6 -
Slide 9: Loan portfolio quality by business lines
Loan portfolio quality by business lines Business loans Private mortgage loans m€, % m€, % 1% 2% 1% 0.3% 0.3% 1% 1% 1% 1% 1% 7.4 5.9 2.9 3.7 4.3 4.5 1.7 1.5 2.9 2.6 7.2 5.8 0.2 0.2 0.2 2.7 1.6 1.4 0.4 0.4 - 3.8 - 4.6 - 5.4 2.5 3.5 4.1 4.3 - 6.0 - 6.4 2.3 - 0.4 - 0.4 - 0.4 - 0.5 - 0.5 Q3 2021 Q4 Q1 Q
Slide 10: Interest costs of deposits have begun to rise
Interest costs of deposits have begun to rise Deposits • Deposits grew by 106m€ (8%) • +44m€ from business clients m€ (+50m€ demand deposits, -6m€ term deposits) Total cost of financing • +4m€ from private clients (+5m€ demand deposits, -1m€ term deposits) 0.7% 0.6% 0.7% • +58m€ from Raisin platform
Slide 11: Client base and market share
Client base and market share Total no of clients • Total no of clients increased by 8200 (+6%) in Q3 2022 (+8300 in Q2 2021) '000 +31 +29% • 3700 (+6%) new active clients in Q3 2022 +8 +6% (+4500 in Q2 2022) 122 131 139 108 115 • Bank’s market share changed in Q3 2022*: • Market share of loan portfo
Slide 12: Capital base supports growth plans
Capital base supports growth plans Quarterly capitalization Liquidity coverage ratio (LCR) m€, % % 197% 202% 16.8% 16.6% 16.7% 16.7% 16.7% 160% 157% 153% 851 805 717 648 593 100% 120 135 142 100 108 Q3 2021 Q4 Q1 Q2 Q3 2022 Q3 2021 Q4 Q1 Q2 Q3 2022 Total eligible capital RWA Capital adequacy ratio L
Slide 13: Performance indicators
Performance indicators Cost / income ratio (CIR) and ROE • Decreasing CIR (long term goal: <50%) • Revenues +1.1m€ (+9%) Cost / income ratio % • Costs +0.3m€ (+5%) 56% 58% • Increased ROE (long term goal: >15%) 54% 52% 50% • Quality of loan portfolio remains high • Rising euribor contributes to reve
Slide 14: Shareholders
Shareholders No of Coop Pank shareholders TOP shareholders No of shareholders (thousand) Shareholder distribution of Coop Pank as at 30.09.2022 +5.6 +23% +0.2 +1% Coop Investeeringud 25% Others 29.9 30.0 30.2 27.8 42% 24.6 Cooperatives 18% Eesti Ühistukapital Q3 2021 Q4 Q1 Q2 Q3 2022 2% CM Capital A
Slide 15: Share price
Share price Coop Pank share price and trading volume by dates • Share price at the end of Q3 2022 at 2.27 € (2.32 € at the end of Q2 2022) Share price €, 4.20 trading volume thousand shares 3.52 2.99 2.68 • No of transactions in Q3 2022 totalling 2.27 2.32 15 thousand 1.79 2.89 1.21 942 2.27 2.27 •
Slide 16: Summary: Q3 2022 results
Summary: Q3 2022 results • Business volumes continue to grow ca +40% YoY • Net profit 5.7m€ (+34% YoY) • CIR: 50% (Q3 2021 56%) • ROE: 19.1% (Q3 2021 16.2%) 5.7m€ profit ROE 19.1%
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