Nordea profits hike surprises analysts
Published: 27 Oct 10 09:44 CET | Print version
Online: http://www.thelocal.se/29848/20101027/
Nordic banking giant Nordea on Wednesday reported a third quarter jump in profits of 14 percent, far in excess of analyst forecasts.
- Nordea tracked clients in secret 'black book' (13 May 13)
- Volvo posts biggest loss since financial crisis (25 Apr 13)
- Nordea's profits 'higher than expected' (24 Apr 13)
Net banking income, the profit from the cost of attracting deposits and the price of lending it out, a key measure for retail banks, was almost steady, slipping 1.0 percent to €1.31 billion.
The outcome exceeded the figure expected by analysts polled by Dow Jones Newswires who had expected the net profit to fall by about 9.0 percent to €571 million and net banking income to fall by 2.0 percent.
Chief executive Christian Clausen said: "Nordea had a strong quarter, with record level income and one of our highest operating profits ever."
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