<\/p>\n
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.<\/p>\n
However, this is 2 percent less than in the same quarter last year.<\/p>\n
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.<\/p>\n
In turn, operating expenses increased by 73 million euros to 1,278 million euros.<\/p>\n
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.<\/p>\n
“Inflation has decreased, and during the quarter, for the first time, we witnessed interest rate cuts in three of our four domestic markets.<\/p>\n
“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.<\/p>\n
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.<\/p>\n
The bank also aims to ensure that in 2025 the yield will be even higher than 15.<\/p>\n
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