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EQS-News: Nordea Bank Abp: Half-year Report

EQS-News: Nordea Bank Abp: Half-year Report
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Half-year results 2021

Summary of the quarter: Strong result, with high income growth. Operating profit increased to EUR 1,338m from EUR 306m in the same period last year, driven by a significant increase in total operating income, strong cost control and low loan losses. Net interest income grew by 13% and net fee and commission income increased by 30%. Net fair value result was solid and at a more normalised level than in the first quarter. Continued strong growth in customer business volumes across Nordics. Nordea drove high levels of business activity and gained market shares across the Nordics. Mortgage volumes continued to grow significantly, increasing by 6%, year on year, and SME lending increased by 8%. Assets under management increased by 24% to an all-time high of EUR 387bn, driven by strong performance and continued solid net inflows, especially into retail funds and Private Banking.

First-quarter results 2021

Nordea Bank Abp 29 April 2021 at 7:30 EET Summary of the quarter: Continued growth in business volumes and customer satisfaction across Nordics. Mortgage volumes grew by 6% in local currencies, year on year, and lending to small and medium-sized enterprises increased by 7%. Assets under management increased by 33% to EUR 372bn, driven by market recovery and continued net inflows, especially into retail funds. Customer satisfaction scores continue to increase. Strong result, driven by high income growth. Operating profit increased by 75%, year on year, mainly driven by significantly higher total operating income, which increased by 21%. Net interest income increased by 9%, net fee and commission income increased by 8% and net fair value result was exceptionally high due to strong financial market activity.

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