Unaudited financial results of Coop Pank for Q4 and 12 months of 2025
In 2025, Coop Pank continued to implement its growth strategy and achieved strong growth in both its customer base and loan portfolio. Overall, interest rates declined in 2025 and subsequently stabilized, which was reflected in the lending market and improved confidence among both businesses and households. This had a positive impact on Coop Pank’s results as well as on the Estonian banking landscape as a whole.
Over the year, the number of Coop Pank customers increased by 19,000 (+9%) and the number of active customers increased by 9,000 (+9%). Of the new customers, 16,000 were private customers and 3,000 were business customers. By the end of 2025, the number of Coop Pank customers reached 227,000, of which 108,000 were active customers.
By the end of 2025, deposits of Coop Pank reached 2.05 billion euros, increased by 170 million euros (+9%) over the year. Term deposits increased by 8% over the year and demand deposits by 11%. The bank 's financing cost decreased over the year from the level of 3.3% to the level of 2.4%. The market share of the bank 's deposits increased from 6.0% to 6,1% over the year.
By the end of 2025, loan portfolio of Coop Pank reached 2.11 billion euros, increased by 340 million euros (+19%) over the year. Business loans and home loans made the biggest contribution to portfolio growth. Business loans portfolio increased by 207 million euros (+27%) and home loan portfolio increased by 125 million euros (+17%). Consumer finance portfolio increased by 6 million euro (+5%) and leasing portfolio increased by 3 million euros (+2%). The market share of the bank 's loans increased from 6.5% to 7.1% over the year.
In 2025, the quality of the loan portfolio remained very good, despite of the changes in the economic environment. To cover possible loan losses, 3.3 million euros provisions were made in 2025 – that was 29% less than a year earlier. The cost ratio for credit risk decreased from 0.3% to 0.2%.
The net income of Coop Pank reached 79.4 million euros, decreased by 2.5 million euros (-3%) over the year. Net interest income decreased 4.3 million euros (-6%) over the year. Net service fee revenues increased 0.2 million euros (+4%) over the year. The bank 's operating cost reached 41.5 million euros, increased by 0.9 million euros (+2%) over the year. Personnel, IT and marketing costs continued to make up the largest part of operating costs.
Net profit of Coop Pank in 2025 was 28.7 million euros, decreased by 11% over the year. The bank 's cost / income ratio increased from 50% to 52% over the year and the return on equity decreased from the level from 16.2% to 12.9%.
As of 31 December 2025, Coop Pank has 32,800 shareholders.
Results in Q4
In Q4 2025, the number of the bank’s customers increased by 5,000 (+2%), of which 4,000 were private customers and 1000 were corporate customers. By the end of the year, Coop Pank had 227,000 daily banking customers.
In Q4 2025, the volume of deposits increased by 134 million euros (+7%) and reached 2.05 billion euros by the end of the year. Over the quarter, the volume of demand deposits decreased by 12 million euros and the volume of term deposits increased by 146 million euros.
The bank 's net loan portfolio increased by 91 million euros (+4%) over the quarter, reaching 2.11 billion euros by the end of the year. The volume of corporate loans increased by 55 million euros and the volume of home loans increased by 33 million euros. Consumer financing increased by 1 million euros and leasing by 2 million euros.
In Q4 2025, Coop Pank earned a profit of 7.2 million euros, which is 3% more than in Q3 and 12% more than in the same period last year.
Comments of the CEO of Coop Pank Arko Kurtmann:
“Coop Pank follows a growth strategy, and in line with this, we continued to grow both our customer base and loan portfolio in 2025. At the heart of all our activities is the customer, and our competitive advantage lies in offering more convenient and faster services. We can only grow if we do something better than our competitors.
The number of Coop Pank customers grew by 19,000 (+9%) in 2025, reaching 227,000 by the end of the year. Increasingly, opening an account is followed by switching to Coop Pank as the customer’s main bank for daily banking services. However, growing the number of so-called home bank clients is also one of our biggest forward-looking challenges. Switching one’s main bank is what drives the growth of demand deposits and enables us to reduce the cost of funding.
The bank’s loan portfolio grew by €340 million (+19%) in 2025. For the first time in Coop Pank’s history, our loan portfolio exceeded €2 billion. The loan portfolio’s quality remained at a low-risk level throughout the year. The business loan portfolio grew the fastest, increasing by €207 million (+27%). This was followed by growth in the home loan portfolio by €125 million (+17%). Growth in consumer loans and leasing was moderate. Overall, both business and private customer demand for loans remained strong throughout the year. This robust loan demand was also one of the signs of economic revitalization for us.
Coop Pank’s net profit amounted to €28.7 million in 2025, decreasing by 11% year-on-year. The decline in net profit compared to the previous year was mainly caused by the lower-interest economic environment, which the 19% growth in business volumes could not offset. While we anticipated net profit decline in 2024 and 2025, our goal is to return to net profit growth in 2026.
Below is an overview of the most important developments at Coop Pank in 2025:
The bank followed its existing dividend policy and fulfilled the promise made to shareholders by distributing 25% of its 2024 pre-tax profit as dividends, amounting to over €7.2 million.
For the first time, the bank issued covered bonds on the Irish stock exchange, totalling €250 million with a four-year maturity. This marked the first tranche of a €750 million covered bond programme.
At the end of the year, the European Investment Bank provided Coop Pank with capital relief, enabling the bank to issue up to €249 million in new loans to businesses.
Additionally, the bank signed a loan agreement at the end of the year with the European Energy Efficiency Fund (EEEF), under which Coop Pank will take an unsecured subordinated loan of €5 million at an interest rate of 6-month Euribor plus 3.25% per annum.
In 2025, the credit rating agency Moody’s affirmed Coop Pank’s deposit rating at Baa2 with a positive outlook. This confirms that the bank continues to be reliable, with strong profitability, solid capitalization, and a high-quality credit portfolio.
The bank implemented several product enhancements to make using a domestic bank even more affordable, flexible, and convenient for customers. For example, the bank introduced a virtual card, a group account solution, and enabled entrepreneurs to accept payments conveniently using an Android smart device. In addition, Coop Pank elevated its cooperation with Coop retail to a new level by introducing a unique purchase reward for joint customers. In 2025, the bank paid out over €270,000 in purchase rewards to its customers.
Alongside the development of e-services, the bank also invested in increasing face-to-face interaction opportunities by opening a branch in the centre of Valga. A larger and more modern branch was also opened in Viljandi. Coop Pank operates a total of 16 branches across 13 cities in Estonia and has the largest cash network in the country.
Among new loan products, the bank launched a small business loan for aspiring entrepreneurs and the Home Defender Home Loan. In addition, the bank lowered the interest rate of its popular Teacher’s Home Loan.
In the second quarter of 2025, Margus Rink stepped down as Chairman of the Management Board, and the Supervisory Board appointed Arko Kurtmann as the new Chairman of the Management Board. Following Kurtmann’s appointment, the Supervisory Board named Lehar Kütt as the new Head of Business Banking and member of the Management Board. As of 1 February 2026, the bank’s Chief Information Officer, Alvar Pihlapuu, also joined the Management Board.
Awards and recognitions received by the bank in 2025:
- The Teacher’s Home Loan received a special prize for inventive communication from the Estonian Public Relations Association (EPRA) and won a Kuldmuna (Golden Egg) in corporate communications from the Estonian Marketing Association (TULI).
- The Ministry of Defence’s “Will to Defend” project, in which Coop Pank participates through its “Kaardivägi” donation program aimed at collecting regular contributions, was awarded the Grand Prix for Marketing Act of the Year 2024 by the Estonian Marketing Association (TULI).
- The Ministry of Defence awarded Coop Pank the “Supporter of National Defence” gold-level recognition for the second time. Coop Pank is among the top two donors to the Reservists Fund.
- According to a Kantar Emor survey, Coop Pank is the most recommended bank in Estonia, and in Dive’s annual customer survey, the bank ranked first for phone service.
- According to Kantar Emor, Coop Pank’s mobile application is among the ten most customer-friendly mobile applications of companies operating in Estonia.
- According to Kantar Emor, Coop Pank ranks among the ten most reputable employers in Estonia.
- The bank holds the Gold Label for Family-Friendly Employer status as well as the Remote Work Leader certification.
- The Sustainable Business Association KELL (Kestliku Ettevõtluse Liit KELL) awarded Coop Pank a Gold Label in its Responsible Business Index.
In 2025, Coop Pank also continued to support Estonian sports, sponsoring top decathletes, both the men’s and women’s national volleyball teams, as well as the initiative “Volleyball in Every Estonian School.” In addition, the bank provides scholarships, thesis topics, and internship opportunities for TalTech students, helping to nurture future financial and technology experts.
The bank’s strategic goal is to grow its loan portfolio market share in Estonia to 10% by the end of 2030 and to expand annually at a rate two to three times faster than the market average — a target that supports the bank’s ambitious growth strategy. Coop Pank also aims to double its net profit over the next five years and reach at least €60 million in net profit by 2030. This goal supports the bank’s ability to offer shareholders stable and attractive returns. As business volumes grow, the bank aims to operate with high efficiency (cost-to-income ratio below 45%) and deliver an expected return on equity (ROE of at least 15%).
We thank all Coop Pank clients, shareholders, and employees for the year 2025. Our goal is to build a bank that becomes a success story for everyone. A success story for our customers. A success story for our shareholders. A success story for our employees. A success story for society.”
| Income statement, in th. of euros | Q4 2025 | Q3 2025 | Q4 2024 | 12M 2025 | 12M 2024 |
| Net interest income | 19 038 | 18 299 | 19 148 | 73 269 | 77 570 |
| Net fee and commission income | 1 123 | 1 100 | 1 303 | 4 545 | 4 358 |
| Net other income | 797 | 143 | -483 | 1 542 | -45 |
| Total net income | 20 958 | 19 542 | 19 968 | 79 355 | 81 883 |
| Payroll expenses | -6 438 | -6 472 | -6 007 | -24 406 | -23 411 |
| Marketing expenses | -675 | -370 | -788 | -1 857 | -2 690 |
| Rental and office expenses, depr. of tangible assets | -823 | -683 | -798 | -3 090 | -3 097 |
| IT expenses and depr. of intangible assets | -1 995 | -1 903 | -1 731 | -7 235 | -6 189 |
| Other operating expenses | -1 490 | -1 031 | -1 473 | -4 904 | -5 189 |
| Total operating expenses | -11 422 | -10 459 | -10 797 | -41 491 | -40 576 |
| Net profit before impairment losses | 9 537 | 9 083 | 9 171 | 37 864 | 41 307 |
| Impairment costs on financial assets | -1 041 | -664 | -1 821 | -3 299 | -4 643 |
| Net profit before income tax | 8 495 | 8 419 | 7 350 | 34 565 | 36 663 |
| Income tax expenses | -1 305 | -1 448 | -957 | -5 842 | -4 486 |
| Net profit for the period | 7 190 | 6 971 | 6 393 | 28 724 | 32 178 |
| Earnings per share, eur | 0,07 | 0,07 | 0,06 | 0,28 | 0,31 |
| Diluted earnings per share, eur | 0,07 | 0,07 | 0,06 | 0,27 | 0,31 |
| Statement of financial position, in th. of euros | 31.12.2025 | 30.09.2025 | 31.12.2024 |
| Cash and cash equivalents | 488 717 | 416 495 | 343 678 |
| Debt securities | 63 023 | 52 648 | 37 751 |
| Loans to customers | 2 114 091 | 2 023 349 | 1 774 118 |
| Other assets | 37 163 | 39 443 | 33 066 |
| Total assets | 2 702 994 | 2 531 934 | 2 188 614 |
| Customer deposits and loans received | 2 124 520 | 1 957 852 | 1 886 145 |
| Debt securities issued | 255 203 | 254 676 | 0 |
| Other liabilities | 25 580 | 28 752 | 27 683 |
| Subordinated debt | 63 148 | 63 348 | 63 148 |
| Total liabilities | 2 468 451 | 2 304 629 | 1 976 977 |
| Equity | 234 543 | 227 305 | 211 637 |
| Total liabilities and equity | 2 702 994 | 2 531 934 | 2 188 614 |
The reports of Coop Pank are accessible at: https://www.cooppank.ee/aruandlus.
Coop Pank will hold an Investor Webinar for the introduction of its financial results, which is scheduled at 09:30 on 12 February 2026. The live broadcast of the webinar can be watched on YouTube: https://youtube.com/live/CPM4_ZlNCfg and on Facebook: https://www.facebook.com/events/1256194619765766/
The webinar will be recorded and posted on the company’s website www.cooppank.ee and YouTube account.
Coop Pank, which is based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 227,000 everyday banking customers. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic owner of the bank is the local retail chain Coop Estonia, which has a sales network of 320 stores.
Further information:
Arko Kurtmann
Chief Executive Office
Email: arko.kurtmann@cooppank.ee
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