Better than expected by Nordea – Vestmanlands County Newspaper

Nordea’s operating profit for the second quarter fell to 1.223 billion, equivalent to about 11.6 billion. That compares with profit of EUR 1 235 million corresponding period of 2015.

Analysts, however, had on average expected a profit of 1.157 billion euros, according to Reuters.

– I am very pleased to present a whim solid second quarter results, says Nordea’s CEO Casper von Koskull. – We managed the market volatility associated with brexit good, which is reflected in the results, he added.

Nordea improve margins in lending to households, mainly in Sweden, Finland and Norway, according to von Koskull.

– I expect that this trend will continue.

net interest income fell to 1.172 billion euros from 1.274 billion euros. Net commission income fell to 804 million euros, from 833 million euros.

The average forecast for net interest income stood at 1.176 billion euros, while net commission income stood at 800 million kronor, according to Reuters.

Total amounted Nordea’s revenue in the second quarter to 2.556 billion euros, compared with 2.523 billion euros in the corresponding period last year.

the cost rose to 1.206 billion euros from 1.185 billion euros. Loan losses increased to 127 million euros, from 103 million euros.