The second quarter of 2026, like the beginning of the year, was more favorable for Coop Pank than for LHV Group. While both banks reported higher net interest income during the quarter, their bottom-line performance diverged.

For LHV Group, Q2 2026 marked the first quarter in which net interest income returned to growth, increasing 8% YoY. Meanwhile, Coop Pank maintained the positive momentum seen since the beginning of the year, with net interest income rising 15% YoY in the second quarter.

Coop Pank and LHV Group net interest income

In Q2 2026, Coop Pank's operating expenses increased broadly in line with interest income, rising 10% YoY. Net profit increased by 24% YoY to €8.2M.

At LHV Group, operating expenses grew slightly faster than interest income, increasing 8% YoY versus 5% YoY, respectively. Nevertheless, profit before impairment losses rose 6% YoY. However, while the bank recorded a €4M loan impairment reversal in the second quarter of last year, it recognized €5.8M in impairment losses this year. This created an almost €10M swing between the two quarters, contributing to a 20% YoY decline in LHV Group's net profit to €24.7M.

Coop Pank and LHV Group net profit

Loan portfolio growth was broadly similar at both banks during the second quarter. LHV Group's loan portfolio expanded by 3.3% (€183M), while Coop Pank's grew by 3.8% (€82M).