Coop Pank's profits down 17 percent on year to Q2 2025
Coop Pank earned a net profit of €6.6 million in the second quarter of 2025 (Q2 2025), a 16 percent fall on the previous quarter and 17 percent down on the year.
The bank earned a net profit of €7.9 million in Q1 2025, a rise of 24 percent on the preceding quarter, though 13 percent less than earned in Q1 2024.
Coop Pank's net income rose by 1 percent compared with the previous quarter, but fell by 5 percent year-on-year, due to the fall in the Euribor rate.
The bank's operating expenses remained at the same level year-on-year, and rose by 6 percent compared to the previous quarter.
According to the bank's unaudited financial results for Q2 2025, the €6.6-million profits were buoyed by business volume growth, the good quality of the loan portfolio, keeping costs under control, and a decrease in financing costs resulting from the interest rate environment and economies of scale.
Heikko Mäe, acting Coop Pank board chair, said the Estonian economy as a whole has not yet gained any new momentum this year, though interest rates are stabilizing and sense of easing headwinds.
Coop Bank's net loan portfolio in Q2 2025 grew by €125 million (a rise of 7 percent), reaching €1.94 billion.
The largest growth came in the business loan portfolio, which rose by €82 million (up 10 percent) during the quarter.
The home loans portfolio grew by €37 million (up by 5 percent).
Compared with Q2 2024, Coop's loan portfolio has grown by €322 million (a rise of 20 percent).
Mäe said: "We can see that both the manufacturing industry and the real estate sector are currently making active investments. Among home loan applicants, there has been a sharp increase in interest particularly in construction loans, and across Estonia, many large-scale repair and renovation works are currently being undertaken in homes, which are financed with home loans."
Coop Pank reported 218,000 clients as of the end of Q2 2025, with the number of clients rising by 22,000 (up by 11 percent) over the year. There were 103,600 clients actively conducting transactions.
The bank had 34,700 shareholders as of the end of Q2 2024.
Most of Estonia's main banks have reported a fall in profit in the second quarter of this year.
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Editor: Mirjam Mäekivi, Andrew Whyte
