net interest income was 1 176 million euros, in line with the expected 1 189 million (SME Direct). Operating income for the third quarter was 1 148 million, against the expected 1 071 million. Net interest income for the third quarter of last year was 1 eur 233 million, and operating profit was about 1 033 million.
The total revenue amounted to 2 466 million, the expected was 2 411 million. During the same time last year they were 2, eur 253 million.
Nordea’s expenses were 1 of 183 million euro, against the expected 1 191 million.
credit Losses was € 135 million, against the expected 148 million.
Net income was 888 million, against 780 million in the third quarter of last year.
Nordea’s ceo Casper von Koskull writes in the report:
” the Third quarter was characterized by a stable environment with low volatility in the financial markets, but also continued low growth. We have worked hard to address all the challenges of the negative interest rate.
Nordea will work hard for customers to be more satisfied, he writes.
– That we create value for our customers, is vital if we are to create value to Nordea and the shareholders. We are not satisfied with the current level of customer satisfaction and it is our highest priority to improve it.
Nordea will also become better at following the rules for banks.
– We have in 2016 intensified our efforts to ensure a strong compliance culture.
He writes about the culture change that will take place in the bank:
– It is now a year ago we began work to transform our business and culture. We are simplifying our legal structure, we replace the kärnbankplattformen and invest in regelefterlevnadsfunktionerna. We will not reach all the way if we do not also change our culture. It is a step on the way towards the goal to gather around a strong culture, based on ethics and compliance. A part of this cultural change is to recruit experts in world-class, many of whom are non-nordic, for several important strategic positions. The overall goal is to continue to build the bank of our customers want us to be.