Coop Pank (CPA1T) Q1 2025 earnings summary

Executive summary

• Loan portfolio grew 19% YoY and 2–3% QoQ, outpacing market growth and increasing market share.

• Active customers increased 21% YoY and 2–3% QoQ, with total clients up 2–2.5% in Q1 2025 to 213,000.

• Net profit for Q1 2025 was €7.9m, down 13% YoY but up 24% QoQ.

• Cost/income ratio improved to 49%; ROE at 14.7% (down YoY, up QoQ).

• Launched €250m covered bond issue and new digital/lending products.

Financial highlights

• Net operating income was €19.3m, down 5% YoY and 3% QoQ.

• Net interest income fell 6–7% YoY and QoQ; net fee and commission income up 14% YoY but down 11% QoQ.

• Operating expenses were €9.5m, up 1% YoY but down 12% QoQ.

• Impairment losses dropped to €0.2m, down 88% QoQ and 61% YoY.

• Cash and bonds increased 61% QoQ and 47% YoY to €614m.

Outlook and guidance

• Covered bond program provides new long-term funding for business and mortgage growth.

• Business volumes projected to grow faster than the market, supporting further market share gains.

• Focus on digital innovation and customer service to drive further growth.