Nordea profits hike surprises analysts
AFP/The Local · 27 Oct 2010, 09:44
Published: 27 Oct 2010 09:44 GMT+02:00
Nordea reported a net figure of €709 million ($978 million), from €624 million at the same time last year, attributing the rise to an increase the number of wealthy clients and to a relatively stable economic climate.
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."