Nordea reported operating income of 1.408 billion euros in the first quarter. That compares with the expected 1.165 billion euros, according to SME Direkt.
Net interest income was 1.288 billion euros, against expected 1.32 billion euros, and loan losses amounted to EUR 122 million. Expected, credit losses, net 143 million.
Strong revenue growth
Nordea’s first quarter of the year was marked by increased customer activity and strong income growth. It writes CEO Christian Clausen Interim Management Statement.
“The extremely low interest rates causes pressure on our net interest margins, but also creates greater demand for our products and services in other parts of the bank. The increased volatility leading to greater demand for our risk management solutions among our corporate and institutional clients, and interest continues to be very big for our savings and investment deals throughout Europe, “writes Christian Clausen.
Nordea’s assets under management rose to a new record level of 290 billion euros , while expenses fell as expected, credit quality remains solid, according to the president.
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