Estonian bank Coop Pank AS earned a net profit of €4.1 million in August, marking the largest monthly profit for the bank and an increase by 102.6% compared to the same month last year, BNS, a Baltic newswire, reported on September 11.

In the eight months of the year, the bank has earned a net profit of €27.2 million, that is 127% more than in the same period last year. In August, Coop Pank's return on equity was 27.9% and the cost-income ratio was 39%, the bank told the stock exchange.

The volume of the bank's customer deposits decreased by €54 million, reaching €1.72 billion by the end of month. Deposits of corporate customers decreased by €56 million and deposits of private customers increased by €1mn. The volume of deposits attracted from international platforms increased by €400,000. Over the year, volume of bank deposits has grown by 34%.

The bank's loan portfolio increased by €9mn over the month and reached €1.49 billion by the end of August. Business loans portfolio increased by €6mn, home loans portfolio increased by €4mn leasing portfolio decreased by €1mn, consumer financing loan portfolio remained at the same level in August compared to July. Over the year, loan portfolio has grown by 26%.

In August, the loan impairment cost was €100,000. Compared to the first eight month of last year, the bank's net income has increased by 72% and expenses by 28% during the same period this year.

In August, the number of the bank's customers increased by 2,600 and number of active customers decreased by 2,500. By the end of the month number of customers reached 172,400 and number of active customers reached 74,900. Over the year, customer base has grown by 27%, BNS said.