New clients push Nordea profits to new heights
Published: 30 Jan 13 14:01 CET | Print version
Online: http://www.thelocal.se/45910/20130130/
The largest Nordic bank, Nordea, posted a 19 percent rise in annual profit on Wednesday after it cut jobs and attracted more customers.
- 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)
"In 2012, we had more customers, more capital and higher profit than ever before," chief executive Christian Clausen said in a statement, as the bank announced a €3.12 billion ($4.22 billion) net profit for 2012.
Operating income rose eight percent to 10.2 billion euros in the year.
Fourth quarter net profit was seven percent higher at €840 million, beating an average of 781 million euros predicted by analysts polled by Dow Jones Newswires.
Operating income increased three percent to €2.63 billion in the same period.
Nordea, which has been reducing its headcount to lower costs, cautioned that "the weak European growth picture remains a concern and could lead to renewed market tensions."
The number of employees fell to 31,466 from 33,068 in the year.
"More and more household and corporate customers comfortably use an increasing range of communication technologies. This general trend in customer behaviour naturally also affects customers' use of Nordea's distribution channels," the bank said.
The group's tier one capital ratio, a measure of how well capitalized a bank is, rose to 13.1 percent in December from 12.2 percent three months earlier.
Nordea's tier one capital ratio is lower than some of its rivals, and the bank's financial plan aims to keep it above 13 percent.
After midday, shares in the bank were up by 2.11 percent, in a market that was 0.46 percent higher.
AFP/The Local/og
Follow The Local on Twitter
What do you think? Leave your comment below.
Sweden 'fails to help well-educated foreigners'
The white-collar union Saco has lambasted Sweden's Employment Agency for its failure to help well-educated, foreign-born job seekers, whose unemployment rate is more than three times the average for people born in Sweden. READ () »
Mixed results for Sweden refugee job push
Fifteen percent of refugees in Sweden who enrolled in the new establishment system the past two years have gone on to find jobs, new figures show, leading some observers to worry that the low success rate will place a burden on the benefits system. READ () »
Riksbank unveils new board members
Sweden's central bank has appointed two new board members plucked from banking and academia to replace two outgoing members, one of whom was an outspoken critic of the Riksbank's commitment to the government's inflation goal. READ () »
350 jobs lost as Ericsson shuts Swedish factory
Swedish telecom giant Ericsson has buckled under the pressure of European competition and will turn off the switch on a cable production plant in Sweden, leaving 350 employees without jobs. READ () »
Sweden has 'lower tax burden' than Senegal
While Sweden has a reputation for having one of the most painful tax bills in the world, a new report ranks Sweden 20th when comparing the tax burden on salaries when social security payments and salary brackets are taken into account. READ () »
Ericsson probed over suspected bribes
Swedish telecom equipment maker Ericsson is suspected of having bribed ministers in Romania in connection with being awarded a contract for the country's emergency number and is now under investigation in the United States. READ () »
Warning over 'long-term' Swedish export slump
Sweden's largest business confederation has gone out guns blazing, criticizing politicians for not facing up to the challenges of "a lost year for Swedish exports" in 2012. READ () »
'Lean hospital a sign of Swedish welfare reform'
A Stockholm hospital saved from closure by private health care providers has been hailed by the Economist as one of modern's Sweden public-private success stories. READ () »
H&M mulls production in South America and Africa
Swedish clothing giant H&M is looking into the possibility of sourcing its production to South America, Central America, and even Africa, chief executive Karl-Johan Persson said on Monday. READ () »
Nord Stream plans new gas pipelines
Gas pipeline firm Nord Stream will hold an information meeting on the Baltic island of Gotland on Monday to introduce a proposal to extend its controversial gas pipeline project. READ () »
- 17/05 Solna voted best place to live in Sweden »
- 17/05 Ikea founder rated fifth richest in the world »
- 17/05 LinkedIn profile lands Swede with hefty tax bill »
- 16/05 India in no rush to open first Ikea store »
- 16/05 H&M CEO to Bangladesh: raise minimum wages »
- 15/05 Sweden plummets in income equality ranking »
- 15/05 Pensioners to recruit ageing Swedish rockers »
- 15/05 Swedish shop hits back: our Converse are real »
- 15/05 Young Swedes forced to live with mum and dad »
- 14/05 Converse in bid to ban 'fake' shoes in Sweden »
| 23/05 | 301751 | Stockholm |
| 23/05 | Account Executive | Sverige |
| 23/05 | Account Executive/Office ManagerToolbox Marketing | Stockholm, STHM |
| 23/05 | Accounting Manager (m/f) | Stockholm |
| 23/05 | Application Owner AXNet Entertainment | Stockholm |
| 23/05 | Area sales ManagerGemalto | Stockholm, STHM |
| 23/05 | Baxter is recruiting an HR Adviser, temp position 6-12 monthsExperis Sverige | STHM |
| 23/05 | BI Solution Unit Lead | Sverige |
| 23/05 | Country Manager High Performance Door Solutions business area | Halmstad |
| 23/05 | E.ON are looking for a Regional Category Manager ElnätExperis Sverige | SKÅ |
- 23/05 Tax evasion 'OK for Joe Normal' say Germans »
- 22/05 Spain and Germany fight youth employment »
- 21/05 Car boss asks Merkel to rethink CO2 pledge »
- 21/05 SAP to hire hundreds of autistic IT experts »
- 18/05 Economists warn against German euro exit »
- 17/05 Germany cool to France's EU economy plan »
- 17/05 Au pairs rules relax for non-German families »
- 16/05 Germany refuses to slam French economic policy »
- 16/05 Capri-Sun drink wins false advertising award »
- 15/05 Anaemic economy feels winter chill »
- Platform Engineer
- Product Manager
- Senior Sales manager in Operations
- Software Engineer for Mobile
- Account Executive/Office Manager
- Application Owner AX
- Area sales Manager
- Baxter is recruiting an HR Adviser, temp position 6-12 months
- E.ON are looking for a Regional Category Manager Elnät
- Finance Director/Senior Fund Controller
- 04:24 Gym memberships without a personnummer?
- 00:35 Restaurant Inspection Scores
- 00:33 Husby Riots and violence against the police...
- 00:32 Moving to Sweden (Questions) HELP
- 00:13 Moving to Sweden from England
- 23:58 Living costs in London
- 21:05 Astra 2F (SKY TV)
- 20:20 Adobo- Filipino Recipe
- 19:13 Is it save to keep money at forexbank?
- 18:49 Found out I'm pregnant!
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Create an account with Banc De Binary, the world’s most reputable binary options firm, and start cashing in today! You can start by practicing with our free $50,000 demo account.
www.bbinary.com
Expat counsellor & talk therapist offers counselling for stress, relationship issues, sexuality, culture adjustment & life coaching. Private & confidential. Stockholm or Skype. Contact me today! 08-559 22 636 or
CLICK HERE
Casa Birgitta in Algarve, Portugal. Reduced price in best location. Private estate on white sand beach. All amenities included. Book here today! edward_george1@hotmail.com
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.