Economic|Interim reports
The bank’s fee and commission income rose strongly from last year’s third quarter.
Banking group Nordea’s operating profit improved by almost 20 percent in the third quarter. Credit losses remained almost unchanged.
Nordea’s operating profit in July – September rose to EUR 1,268 million from EUR 1,085 million in the corresponding period last year.
Net interest income, a key source of income for banks, increased by 7% to EUR 1,226 million from EUR 1,146 million. The bank’s fee and commission income rose by almost one-fifth to EUR 870 million from EUR 729 million.
Total income increased by nine percent to EUR 2,344 million. Expenses decreased by 1% to EUR 1,098 million.
Net loan losses in the third quarter were EUR 22 million, instead of the previous year’s profit of EUR 19 million.
Nordea still expects its costs to be less than EUR 4.6 billion this year. The bank expects its loan losses to be well below last year’s level.
Nordea flagstone in October to pay a total of EUR 2.9 billion in dividends to its shareholders, the distribution of which was on hiatus since the beginning of the interest rate pandemic due to orders from financial supervisors.
Bank sai In September, the European Central Bank also authorized the purchase of own shares for up to EUR 2 billion. The repurchase program will begin after the third quarter earnings announcement.
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