Changes in the Management Board of Coop Pank AS and Supervisory Boards of Bank’s subsidiaries

 The Supervisory Board of Coop Pank AS elected Mr. Karel Parve as the new Member of the Management Board, who will head Retail Banking. Karel Parve term of office as a Member of the Management Board commences on 01.11.2023 and is effective until 31.10.2026.

Karel Parve was also elected to be a Member of the Supervisory Boards of Coop Finants AS, Coop Liising AS and Coop Kindlustusmaakler AS, all subsidiaries of Coop Pank AS. His term of office as a Supervisory Board Member shall commence on 01.11.2023. 

Also, the powers of Arko Kurtmann as a Member of the Supervisory Board of Coop Finants AS, were extended until 31.10.2026.

Karel Pave holds a bachelor's degree in international relations from Bucknell University. Since 2019, he has been working at LHV Bank, where he last managed the private banking unit. He has previously worked at Luminor Bank AS as product manager for private lending products and Scrum Master in project and change management unit and Swedbank AS as project manager and area manager in department of customer experience management. Karel Parve does not own any shares of Coop Pank AS.

Margus Rink, Chairman of the Board of Coop Pank: "For the seventh year of operation, Coop Pank has firmly established itself on the Estonian banking scene, as one of the five universal banks. We have shown that we have a differentiated strategy, it has spoken well to customers and has helped to increase our market share to 6%. To ensure further growth, we need to convince customers to use not only one or two of our services, but the entire service portfolio. In other words, to become the main bank for more of our customers. I’m convinced that under Karel's leadership, by 2027 we will reach our goal where Coop Bank's services are actively used by more than 10% of Estonian residents".


Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 172 400 clients who use everyday banking services. Coop Pank uses the synergy created between retail trade and banking and brings everyday banking solutions closer to people. The majority shareholder of the Bank is a domestic retail chain Coop Eesti, the sales network of which comprises 320 stores.


*Additional information:*

Kristjan Seema

Head of Marketing and Communications

Phone: +372 5505 253

e-mail: kristjan.seema@cooppank.ee