Moody’s Investors Service affirmed the credit rating of Coop Pank AS. Investment grade credit rating with a stable outlook was affirmed at the same level as year ago.
According to Paavo Truu, CFO of Coop Pank, the confirmation of the credit rating at the current level confirms that the bank has been able to maintain a high quality of the loan portfolio even in difficult times and has shown good profitability. “The confirmation of the rating and stable outlook gives private individuals and businesses additional confidence to become a customer of Coop Pank and keep their money in a domestic financial institution,” said Truu.
Latest Fintech News: Options and Mercurius Solutions Empower Trading Firms with Automated Trading as a Service
Ratings affirmed by Moody’s Investors Service for Coop Pank AS:
- Foreign- and local currency long- and short-term bank deposit rating Baa2/Prime-2
- Long- and short-term counterparty risk assessment of Baa1(cr)/Prime-2(cr)
- Long- and short-term counterparty risk rating of Baa1/Prime-2
- Baseline credit assessment (BCA) ba1
- Adjusted baseline credit assessment ba1
Latest Fintech News: Atlas Point Launches Atlas Point Edge Platform, Empowering Personalization at Scale
The long-term deposit ratings carry a stable outlook.
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 157,600. 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 320 stores.
Latest Fintech News: Momnt Partners with Cross River to Make Lending More Accessible
[To share your insights with us, please write to sghosh@martechseries.com]
