In the second quarter of this year, Nordea’s profit exceeded analysts’ expectations, peaking in the second quarter of this year, when the bank made a profit of 1,303 million euros.

However, this is 2 percent less than in the same quarter last year.

The decrease occurred despite the fact that interest income increased by 73 million euros to 1,904 million euros, and another 44 million euros were spent on commission fees.

In turn, operating expenses increased by 73 million euros to 1,278 million euros.

Frank Wang-Jensen, the bank’s CEO, called this quarter “strong.” He expects the positive dynamics to continue in line with the economic recovery in Scandinavia.

“Inflation has decreased, and during the quarter, for the first time, we witnessed interest rate cuts in three of our four domestic markets.

“This reduction in interest rates, as well as the expected reduction in interest rates later this year, should help improve the prospects for the Nordic economies,” he said.

Nordea expects the return on equity to continue to be 15%. In the first quarter of this year, this figure was 18.1 and 17.9 percent, respectively.

The bank also aims to ensure that in 2025 the yield will be even higher than 15.