{"id":1513,"date":"2026-07-30T04:26:00","date_gmt":"2026-07-30T04:26:00","guid":{"rendered":"https:\/\/plyanalytics.com\/?post_type=news&#038;p=1513"},"modified":"2026-08-14T08:06:56","modified_gmt":"2026-08-14T08:06:56","slug":"baltic-banks-2026-q2-results","status":"publish","type":"news","link":"https:\/\/plyanalytics.com\/en\/news\/baltic-banks-2026-q2-results\/","title":{"rendered":"PLY Markets"},"content":{"rendered":"\n<p>The banks listed on the Baltic stock exchange \u2014 <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/dabc12d0-2c61-4383-b024-22df7611fb0b\/reports\/45dc5e6d-28a8-468f-83bb-e4aa3e61b694\">Artea Bank<\/a>, <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group<\/a> and <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/2b8c5486-9fb8-4619-b688-012b28bcabd2\">Coop Pank<\/a> \u2014 have already published their financial results for the second quarter of 2026, which were compared and commented on by <a href=\"https:\/\/plymarkets.com\/\">PLY Markets<\/a>. These insights were also featured by Verslo \u017einios in its Baltic stock market reviews.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Impairments weighed on the net profits of <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/dabc12d0-2c61-4383-b024-22df7611fb0b\/reports\/45dc5e6d-28a8-468f-83bb-e4aa3e61b694\">Artea Bank<\/a> and <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group<\/a> in the second quarter of 2026.<\/h5>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u201c<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/dabc12d0-2c61-4383-b024-22df7611fb0b\/reports\/45dc5e6d-28a8-468f-83bb-e4aa3e61b694\">Artea Bank&#8217;s<\/a>&nbsp;result for the second quarter of this year was almost half of what it was a year earlier. Net profit amounted to \u20ac7.8M, compared with \u20ac14.2M in the same period last year. However, this decline was primarily driven not by cash expenses but by the impairment of fund rights and goodwill, which amounted to approximately \u20ac10M.\u201d<\/li>\n\n\n\n<li>Speaking of <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group<\/a>, \u201cthe bank recorded a \u20ac4M&nbsp;loan impairment reversal in the second quarter of last year, it recognized \u20ac5.8M in impairment&nbsp;losses this year. This created an almost \u20ac10M swing between the two quarters, contributing to a 20% YoY decline in LHV Group&#8217;s net profit to \u20ac24.7M.\u201d<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading\">Profit before impairment expenses increased.<\/h5>\n\n\n\n<p>Profit before impairment expenses grew the fastest at <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/2b8c5486-9fb8-4619-b688-012b28bcabd2\">Coop Pank<\/a> and the slowest at <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group<\/a>: \u201c<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/dabc12d0-2c61-4383-b024-22df7611fb0b\/reports\/45dc5e6d-28a8-468f-83bb-e4aa3e61b694\">Artea Bank&#8217;s<\/a> profit before impairment expenses in the second quarter of 2026 was 12% higher than a year earlier, remained broadly in line with the first quarter of this year, and reached \u20ac20.6M. For comparison,\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group&#8217;s<\/a>\u00a0profit before impairment expenses grew at a slower pace, increasing by 6% YoY, while\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/2b8c5486-9fb8-4619-b688-012b28bcabd2\">Coop Pank<\/a>\u00a0reported faster growth of 19% YoY.\u201c<\/p>\n\n\n\n<p>In the second quarter of 2026, banks\u2019 net interest income increased. \u201cFor&nbsp;<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group<\/a>, Q2 2026 marked the first quarter in which net interest income returned to growth, increasing 8% YoY. Meanwhile,&nbsp;<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/2b8c5486-9fb8-4619-b688-012b28bcabd2\">Coop Pank<\/a>&nbsp;maintained the positive momentum seen since the beginning of the year, with net interest income rising 15% YoY in the second quarter.\u201c \u201c<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/dabc12d0-2c61-4383-b024-22df7611fb0b\/reports\/45dc5e6d-28a8-468f-83bb-e4aa3e61b694\">Artea Bank&#8217;s<\/a>&nbsp;results supported from slightly higher interest income, with net interest income rising by 8% YoY this quarter, matching the growth rate reported by&nbsp;<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group<\/a>.\u201c<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Valuation metrics: <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/2b8c5486-9fb8-4619-b688-012b28bcabd2\">Coop Pank<\/a> stands out.<\/h5>\n\n\n\n<p><a href=\"https:\/\/plymarkets.com\/\">PLY Markets<\/a> also compared the valuation metrics of <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/dabc12d0-2c61-4383-b024-22df7611fb0b\/reports\/45dc5e6d-28a8-468f-83bb-e4aa3e61b694\">Artea Bank<\/a>, <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group<\/a>, and <a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/2b8c5486-9fb8-4619-b688-012b28bcabd2\">Coop Pank<\/a>. As\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/dabc12d0-2c61-4383-b024-22df7611fb0b\/reports\/45dc5e6d-28a8-468f-83bb-e4aa3e61b694\">Artea Bank&#8217;s<\/a>\u00a0net profit declined, its P\/E ratio\u00a0increased, placing it slightly above\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group<\/a>, while the gap compared with\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/2b8c5486-9fb8-4619-b688-012b28bcabd2\">Coop Pank<\/a>\u00a0is even wider. Based on the P\/BV ratio,\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/dabc12d0-2c61-4383-b024-22df7611fb0b\/reports\/45dc5e6d-28a8-468f-83bb-e4aa3e61b694\">Artea Bank<\/a>\u00a0has the lowest valuation, although it remains broadly similar to\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/2b8c5486-9fb8-4619-b688-012b28bcabd2\">Coop Pank<\/a>, whereas\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group<\/a>\u00a0continues to trade at a significantly higher P\/BV multiple.\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">LHV Group&#8217;s<\/a>\u00a0valuation premium is partly supported by its higher ROE, although\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/2b8c5486-9fb8-4619-b688-012b28bcabd2\">Coop Pank&#8217;s<\/a>\u00a0ROE is now close behind despite trading at lower valuation multiples. Meanwhile,\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/dabc12d0-2c61-4383-b024-22df7611fb0b\/reports\/45dc5e6d-28a8-468f-83bb-e4aa3e61b694\">Artea Bank&#8217;s<\/a>\u00a0ROE remains significantly lower than that of both<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/e20f0a55-60fe-4f48-b0e7-bcc182f69222\">\u00a0LHV Group<\/a>\u00a0and\u00a0<a href=\"https:\/\/plymarkets.com\/dashboard\/groups\/b0690976-8205-4e4a-b29d-484bac5c0f33\/reports\/2b8c5486-9fb8-4619-b688-012b28bcabd2\">Coop Pank<\/a>.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q2 2026 overview of Baltic-listed banks<\/p>\n","protected":false},"featured_media":1512,"template":"","meta":{"_acf_changed":true,"inline_featured_image":false},"news-category":[38,37],"class_list":["post-1513","news","type-news","status-publish","has-post-thumbnail","hentry","news-category-ply-markets-en","news-category-press-media"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Baltic bank results: Artea, LHV Group and Coop Pank | PLY<\/title>\n<meta name=\"description\" content=\"Baltic bank results for Q2 2026: an overview of Artea, LHV Group and Coop Pank. 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