Coop Pank 2026 Q1 financial review
Opposite direction to LHV Group
Coop Pank’s results for the first quarter of 2026 showed the opposite direction to LHV Group. Although only slightly – by around 5% – Coop Pank’s net profit was higher than a year ago. Meanwhile, LHV Group’s net profit declined quite significantly – by around 32% YoY.
Net profit
Like LHV Group, Coop Pank’s interest income at the beginning of this year was fairly stable compared with last year. However, the key difference came from costs: Coop Pank reduced interest expenses, while LHV Group experienced the opposite trend. As a result, Coop Pank’s net interest income increased by 9% (+€1.6M) compared with the same period last year.
Net interest income
Most of the growth in net interest income was “eaten up” by higher payroll and other operating expenses, which this year were 14% (+€1.1M) higher than in the same quarter last year. Accordingly, profit before Impairment costs remained practically at last year’s level. However, lower tax expenses were recognized this year, which increased net profit.
Payroll and other operating expenses
The loan portfolio grew in the first quarter of 2026 at a similar pace to LHV Group – around 2% compared with the end of 2025 (+€37M).
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