Nordea reported operating income of 1.157 billion euros in the fourth quarter. That compares with waiting 1.113 billion euros, according to SME Direkt.
Net interest income was 1.356 billion euros, against waited 1.386 billion euros, and loan losses amounted to 129 million euros. Expected, losses on net 167 million.
A dividend of 0:62 per share (0:43), compared with the expected 0:57 euros.
lower loan losses than expected
Nordea’s loan loss provisions amounted to EUR 129 million in the fourth quarter, corresponding to a loan loss ratio of 15 basis points. That compares with an expected 167 million euros, according to SME Direkt and € 112 million the previous quarter.
“Provisions for future credit losses in Denmark increased slightly from last quarter due to collective provisions relating to the agricultural sector. Provisions in Russia increased from very low levels. In other areas, losses were relatively stable with normal fluctuations between quarters, “writes Nordea in this report.
* In Banking Denmark increased loan loss ratio slightly between the third and fourth quarter to 0.31 percent of lending contracted loan loss ratio was 0.17 percent, while doubling in Norway for 14 points.
* In Banking Sweden turned small credit recoveries in the third quarter to less losses.
* For Banking Russia increased loan loss ratio from 0.12 percent to 0.77 percent of total loans.
* In Shipping Nordea reported recoveries equivalent to 0.24 percent of loans in the quarter.
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