Economic Overview - The Estonian economy is experiencing a slow recovery with weak and unstable growth, and inflation remains high at 5.4% year-on-year as of July 2025, driven by rising taxes and increased expenditures on food and healthcare [1] - Consumer confidence is low due to rapid price growth, although lower interest rates and energy prices may improve confidence in the second half of the year [1] Loan Demand and Consumer Financing - There is strong growth in loan demand from private customers, with home loan turnover reaching a record-high of 268 million euros in June, influenced by a 2 percentage point increase in value-added tax starting in July [2] - Demand for consumer financing remains robust, driven by needs for home renovation, furnishing, and travel plans, while the car leasing portfolio saw a slight decrease [3] Banking Services and Customer Growth - Coop Pank introduced new daily banking packages, with the "Kasulik" package being the most popular, offering cashback on purchases at Coop stores, which helps attract new customers and activate existing ones [4] - The bank's client base increased by 1,700 in July, reaching a total of 219,300 clients, with active clients increasing by 600 to 104,100, marking an 11% growth over the year [6] Financial Performance - The volume of customer deposits rose by 111 million euros to 1.93 billion euros, with corporate deposits increasing by 50 million euros and private deposits by 2 million euros [6] - The bank's loan portfolio grew by 23 million euros to 1.97 billion euros, with business loans increasing by 10 million euros and home loans by 13 million euros [6] - Coop Pank reported a net profit of 2.4 million euros in July, with a year-to-date net profit of 16.9 million euros, reflecting a 16% decrease compared to the previous year [6][8] Strategic Developments - The bank raised 111 million euros in deposits in July to support strong loan growth, with nearly half coming from local customers and the remainder from the international deposit platform Raisin [7] - The bank aims to leverage the synergy between retail business and banking to enhance everyday banking services for customers [8]

Core Viewpoint - Irish Continental Group plc (ICG) reported a mixed performance in its trading update for the year to date as of May 3, 2025, with a notable increase in container freight volumes but a decline in car and RoRo freight carryings compared to the previous year [1][2][6]. Volume Performance - For the year to date, car volumes decreased by 7.1% to 140,800 units compared to 151,500 units in 2024 [2][6]. - RoRo freight volumes saw a slight decline of 0.6%, totaling 259,400 units compared to 260,900 units in 2024 [2][6]. - Container freight volumes increased significantly by 28.6%, reaching 132,800 teu compared to 103,300 teu in 2024 [2][8]. - Terminal lifts also rose by 9.8%, totaling 123,500 units compared to 112,500 units in 2024 [2][8]. Recent Updates - Since the last update on March 1, 2025, car volumes decreased by 0.7%, while RoRo freight increased by 2.8% [3]. - Container freight volumes rose by 23.9% since the last update, and terminal lifts increased by 9.6% [3]. Financial Performance - Consolidated Group revenue for the first four months of 2025 was €189.5 million, reflecting a 7.1% increase from €177.0 million in 2024 [5]. - The pre-IFRS 16 net debt was reported at €145.2 million, up from €56.6 million at the end of 2024, while IFRS net debt increased to €247.9 million from €162.2 million [5]. Division Performance - The Ferries Division recorded total revenues of €118.8 million, a slight decrease of 0.8% from €119.7 million in 2024 [6]. - The Container and Terminal Division saw total revenues rise by 17.6% to €80.9 million from €68.8 million in 2024 [8]. Market Conditions - The beginning of 2025 was affected by the closure of Holyhead Port, impacting volumes in the Ferries Division, but a partial reopening in mid-January has led to a more normalized market [7]. - The company is leveraging macro market weaknesses to expand its operations, including recent acquisitions of vessels [4].