Nordea Bank Q2 EPS Flat, Operating Profit Down

(RTTNews) - Nordea Bank Abp (NRDEF.PK) reported Monday that its second-quarter earnings per share were 0.37 euro, unchanged from a year ago.

Operating profit was down 2 percent to 1.68 billion euros from last year's 1.72 billion euros. Profit before loan losses was 1.75 billion euros, same as the prior year.

Total income improved 3 percent to 3.03 billion euros from prior year's 2.96 billion euros.

Net interest income grew 4 percent and net fee and commission income returned to growth, up 6 percent.

Looking ahead for fiscal 2024, the company continues to expect return on equity above 15 percent.

"Nordea has a strong and resilient business model with a very well-diversified loan portfolio across the Nordic region. This enables the bank to support its customers and deliver high-quality earnings, with high profitability and low volatility, through the economic cycle," it said.

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