The banks have released their unaudited Q2 2026 results, and Coop has reported a net profit of €8.2 million, a rise of 24 percent on the year.

Coop Pank

Between Q1 and Q2 2026, Coop reported a fall in profits of 1 percent, however.

Coop Pank's deposit volume meanwhile rose by €69 million between Q1 and Q2 2026 and now exceeds €2 billion, a growth driven primarily by business customers, whose deposits increased by €70 million.

On the year, Coop Pank's deposit volume increased by €380 million, or 21 percent, to Q2 2026.

At the same time, fixed-term deposits also rose between the two quarters, by €89 million. Retail customer deposits, meanwhile, grew by €14 million.

Coop Pank's loan portfolio grew by €82 million, or 4 percent, in Q2 2026 and is now over €2 billion. The business loans portfolio showed the strongest growth and rose by €49 million during the quarter. Compared with Q2 2025, the loan portfolio increased by €290 million to Q2 2026.

The bank's home loan portfolio grew by €22 million; its leasing portfolio by €7 million.

Coop Pank's net income exceeded €22 million in Q2 2026, a rise of 14 percent on the year and 7 percent compared with the preceding quarter. Operating expenses totaled €11.1 million in the second quarter, a rise of 10 percent on the year and of 1 percent compared with Q1 2026.

Coop picked up more customers too, by 5,000 between Q1 and Q2 2026, and the bank now has around 236,000 clients. This represented a rise of 19,000 customers on the year.

LHV Pank

By contrast, LHV Pank's reported results paint a different picture. The bank's consolidated net profit in Q2 2026 was over €24 million, a rise of €4 million on the preceding quarter but €5 million lower than the first quarter of 2025.

Whereas customer deposits rose at Coop Pank, for LHV they fell, by €312 million on the year to Q2 2026.

Payment intermediary deposits fell by €94 million, platform deposits by €104 million, and deposits from other customers by €114 million over the same period.

By the end of Q2 2026, LHV's total deposit volume stood at just over €6 billion, largely unchanged from the same quarter in 2025.

One area LHV Pank did outperform Coop in Q2 2026 was in its loan portfolio, which grew more than Coop Pank's. The increase was €114 million to just under €5 billion, while between Q1 and Q2 2026, growth amounted to €24 million.

LHV Pank's net income exceeded €62 million in Q2 2026 and rose compared with Q1 2025. In the first quarter of this year, net income stood at €54 million, and went above €56 million in the second quarter.

LHV's operating expenses rose between Q1 and Q2 2026. While they stood at just over €27 million then, they exceeded €28 million in the second quarter. Compared with Q2 2025, when LHV's operating expenses were just over €24 million, operating expenses have also risen.

As for Coop, LHV's number of customers rose on the year to Q2 2026. The bank reported 8,000 customers joining on the year to the second quarter, bringing its total customer base to 508,000 by the end of the quarter.

The bank's customer base has also been growing steadily since the beginning of the year. In Q1 2026, the bank added 8,900 customers.

Coop and LHV Pank are both Estonian-owned banks.

--

Follow ERR News on Facebook and Twitter and never miss an update!