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    CPA1T   EE3100007857

COOP PANK AS

(CPA1T)
  Report
Delayed Nasdaq Tallinn  -  08:59 2022-09-27 am EDT
2.290 EUR   -0.95%
09/27Comment regarding the observations of the Financial Supervision Authority to Coop Pank AS and Coop Finants AS
GL
09/27Comment regarding the observations of the Financial Supervision Authority to Coop Pank AS and Coop Finants AS
AQ
09/12Coop Pank AS results for August 2022
GL
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Coop Pank AS entered into merger agreement with CP Varad AS

08/17/2022 | 08:01am EDT

Today, Coop Pank AS entered into a notarial merger agreement with its 100% subsidiary CP Varad AS. As a result of the merger, CP Varad AS will dissolve, and Coop Pank AS will become its successor. The main operation of CP Varad AS has been managing and realising the properties which were collateral to bank’s problem credit. Through the merger, the group aims to streamline its legal structure, however group’s consolidated financial position and rights and obligations will not change.

The merger agreement will enter into force after receipt of an approval from the Estonian Financial Supervision and Resolution Authority and the merger is planned to be completed during the year 2022. The merger agreement and merger report are enclosed to this announcement.

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking reached 133,100. 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 shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 330 stores.

Additional information:
Paavo Truu
CFO
Phone: +372 5160 231
E-mail: paavo.truu@cooppank.ee


 

Attachments


All news about COOP PANK AS
09/27Comment regarding the observations of the Financial Supervision Authority to Coop Pank ..
GL
09/27Comment regarding the observations of the Financial Supervision Authority to Coop Pank ..
AQ
09/12Coop Pank AS results for August 2022
GL
09/12Coop Pank AS results for August 2022
AQ
08/17Coop Pank AS entered into merger agreement with CP Varad AS
GL
08/11Coop Pank AS results for July 2022
GL
08/11Coop Pank AS results for July 2022
GL
07/20Coop Pank held an investor webinar to introduce unaudited results of Q2 2022
GL
07/20Coop Pank held an investor webinar to introduce unaudited results of Q2 2022
AQ
07/20Coop Pank unaudited financial results for Q2 2022
GL
More news
Financials
Sales 2022 42,2 M 40,5 M 40,5 M
Net income 2022 15,4 M 14,8 M 14,8 M
Net Debt 2022 - - -
P/E ratio 2022 13,5x
Yield 2022 1,31%
Capitalization 209 M 201 M 201 M
Capi. / Sales 2022 4,96x
Capi. / Sales 2023 4,54x
Nbr of Employees 300
Free-Float 66,3%
Chart COOP PANK AS
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 0
Last Close Price 2,29 €
Average target price 1,50 €
Spread / Average Target -34,5%
EPS Revisions
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