July 18, 2019 / 4:57 AM / a month ago

Nordea to review financial targets after Q2 profits drop

HELSINKI, July 18 (Reuters) - Nordea Bank, the Nordic region’s biggest lender, posted on Thursday a fall in second-quarter profits, and said it would review its financial targets during upcoming months.

Net profit fell 11% from a year earlier to 681 million euros ($765 million), missing analysts’ average expectation of 739 million euros in a poll.

Net interest income, the bank’s most important income line, fell 4% from a year earlier to 1.07 billion euros, having been under pressure due to fierce competition in mortgages and household loans across the region.

Nordea said it plans to present new financial targets, including the capital and dividend policy after the release of the third quarter 2019 results. ($1 = 0.8898 euros) (Reporting by Tarmo Virki; Editing by Christian Schmollinger)

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