(Corrects to say operating profit fell 36 percent year-on-year, not 12 percent, and interest income fell 5 percent, not 8 percent)
HELSINKI, April 30 (Reuters) - Nordea Bank, the Nordic region’s biggest lender, posted on Tuesday a bigger-than-expected drop in first-quarter operating profit, citing higher regulatory costs.
Operating profit fell 36 percent from a year earlier to 621 million euros ($695 million), missing analysts’ average expectation of 730 million in a Reuters poll of 19 analysts.
Interest income, the bank’s most important income line, fell 5 percent year-on-year to 1.06 billion euros, having been under pressure due to fierce competition in mortgages and household loans across the region. ($1 = 0.8941 euros) (Reporting by Anne Kauranen and Tarmo Virki; Editing by Subhranshu Sahu)