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Nordea presents better than expected first quarter report

Tuesday, 24 April 2012
Nordea, the CEO Christian Clausen, will present the results slightly above expectations for the first quarter. The operating profit of Skr 9.2 billion was 5 percent above analysts' estimates, and loan losses decreased slightly.

Net interest income up 7 percent and that was largely unchanged compared to past quarter of similar period. Operating profit was up 3 percent, up 1 percent compared to the past same period.
Cost / income ratio was unchanged at 50 percent (up from 49 percent in the fourth quarter)
Net loan losses down to 26 basis points from 31 basis points. Return on equity 11.7 percent, down from 12.0 percent in the first quarter 201.

CEO Christian Clausen’s said in the report that “Nordea’s strong business momentum continues. We welcomed 22,000 new relationship customers from outside the bank, our new apps more than doubled the number of active mobile bank customers and we strengthened our market-leading position with the largest corporate in the Nordic countries.
Details of the report could be found here
By Team

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