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Tuesday, 21 September, 2021
Home BUSINESSNordea profit falls in Q3
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Thu, 22 Oct, 2015 12:07:24 AM
FTimes – STT Report, Oct 22
 
Logo of financial services group Nordea in Nordea's Helsinki office. Photo – Lehtikuva.
Financial group Nordea's operating profits fell in the July-September quarter to euro 1.033 billion compared to euro 1.1 billion during the corresponding period of last year.
 
The Chief Executive Officer of the group, Christian Clausen said that the companies and markets have not picked up after the summer months, as usually happens. 
 
According to him, deposit margins are still under pressure and lending grew slowly.
 
Several other key figures also sank compared to last year due to some unsuccessful launches this autumn.
 
In addition to the deterioration of the operating profit, net interest income decreased 9 percent.  
 
Operating income fell by 5 percent. However, Nordea managed to cut its operating expenses by 6 percent.
 
Operating income totaled euro 2.25 billion, while expenses were euro 1.1 billion.
 
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