Alexa
  • Directory of Taiwan

Nordea sees slight growth in net profit for first quarter

Nordea sees slight growth in net profit for first quarter

The Nordic region's largest financial group Nordea Bank AB said Thursday its net profit grew by 5.6 percent during the first quarter, boosted by increased private loans and mortgages.
The bank said its net profit rose to euro700 million (US$951 million), or euro0.27 (US$0.37) per share, compared with euro663 million, or euro0.26 per share for the same period last year.
Nordea said its total revenue grew 7 percent to euro1.87 billion (US$2.54 billion), boosted by higher net interest income _ the bank's main source of revenue _ which grew by 8 percent to euro1 billion (US$1.36 billion).
The bank said its total loans to the public grew by 17 percent, while Poland and the Baltic countries saw strong growth in corporate loan volumes. Total lending in those countries grew by 53 percent, while mortgage lending was up 84 percent, Nordea said.
Christian Clausen, Nordea's new chief executive, said he was confident the bank would meet its stated financial targets for the year.
"Our reinforced organic growth strategy gives us continued strong momentum in our business development in all business areas," Clausen said.


Updated : 2021-04-22 11:30 GMT+08:00