The Nordic bank Nordea published on Monday a quarterly result in progress and better than expected, in particular thanks to an increase in the volume of loans.
Nordea recorded a net profit of 1.05 billion euros (or around 1.04 billion francs), up 3% compared to the second quarter of 2021. Analysts had expected around 934 million euros.
“We increased our home loan volumes by 6% and again increased our market share in the Nordics,” Nordea CEO Frank Vang-Jensen said in a report.
The bank recorded a quarterly turnover of 2.4 billion euros, up 1% compared to the same period last year.
‘The Nordic countries have been among the best performing economies in the world during the pandemic. The GDPs of all four countries and their level of employment is well above the pre-pandemic level,” notes Nordea.
Economic forecasts for the region, however, remain uncertain due to slowing economies, inflation and higher interest rates, Nordea points out.
And after a first half marked by the impact of the war in Ukraine and inflation, the bank expects ‘continued instability and uncertainty in the quarters to come’ globally, underlines Frank Vang-Jensen.
Nordea plans to acquire the Danish company Topdanmark Forsikring, which specializes in life insurance and pensions, for around 270 million euros.
The acquisition, which has yet to receive regulatory approval, is scheduled for the second half of 2022.
/ATS