Estonian bank Coop Pank today presented its results for the last quarter. It turned out that both profit and operating income fell. Today its shares are increasing in price: Coop Pank 2.13 (0.47%) .
During the second quarter of this year, the mentioned bank managed to earn 7.998 million. EUR net profit, which compared to the same period a year ago, was twenty-three percent less. Meanwhile, compared to the first quarter of this year, the profit fell by twelve percent.
Coop Pank Bank's net income shrank nine percent, respectively, and rose one percent to 20.465 million. EUR, and this time the cost of financial asset impairment amounted to EUR 1.224 million. euros, while the quarter before amounted to 0.576 million. euros, and a year ago – 2.232 million. euros.
The half-year net profit of this bank, compared to the same period of 2023, fell from 19.741 to 17.136 million. euros, and net income – from 42.051 to 40.686 million. euros. Impairment costs of financial assets fell from 3,859 to 1,8 million. euros.
Coop Pank's market value has fallen about ten percent since the beginning of this year, and about nineteen percent over the past one year. For comparison, the value of the OMX Tallinn GI index fell by 0.8 and 7.2 percent, respectively.
