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IBOS member Nordea has announced its financial results for Q2 2017, in a report released on 20 July 2017.

In the second quarter of 2017, Nordea’s total income was up 3% in local currencies and up 4% in EUR, in comparison to the previous year. Additionally, operating profit was up 1% in local currencies and up 2% in EUR from the year prior, excluding non-recurring items.

Casper von Koskull, CEO at Nordea, commented:

“In the second quarter, we have seen evenly distributed growth in our four Nordic home markets. The overall economic situation remains very solid although the geopolitical environment is increasingly unstable.

After a period of improved margins, we recently saw a stabilising margin trend, which we expect to continue. We are also seeing continued high activity in corporate advisory services and improved inflow in asset management operations.”

Below are the highlights of Nordea’s second quarter 2017 results, compared with second quarter 2016:

  • Total operating income1 0%, in local currencies 1%
  • Total expenses 7%, in local currencies 8%
  • Operating profit -6%, in local currencies -6%
  • Common equity tier 1 capital ratio 19.2%, up from 16.8%
  • Cost/income ratio 54%, up from 50%
  • Loan loss ratio of 13 bps, down from 15 bps
  • Return on equity 9.5%, down from 11.4%
  • Diluted EPS EUR 0.18 vs. EUR 0.25

Access the full report, via Nordea, here.