FX.co ★ Nordea Bank Q2 EPS Flat, Operating Profit Down

Nordea Bank Abp (NRDEF.PK) announced on Monday that its second-quarter earnings per share remained steady at €0.37, the same as the previous year.

Operating profit experienced a slight decline of 2 percent, totaling €1.68 billion compared to €1.72 billion from the prior year. However, profit before loan losses remained consistent at €1.75 billion.

Total income saw an increase of 3 percent, reaching €3.03 billion, up from last year's €2.96 billion.

Net interest income rose by 4 percent, while net fee and commission income resumed its growth trajectory, increasing by 6 percent.

Looking forward to fiscal year 2024, the company maintains its expectation of achieving a return on equity above 15 percent.

"Nordea boasts a strong and resilient business model with a well-diversified loan portfolio across the Nordic region. This positions the bank to support its customers effectively and deliver high-quality earnings with robust profitability and low volatility throughout economic cycles," the company stated.