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Nordea second-quarter profits in line with forecasts
July 17, 2013 / 5:17 AM / 4 years ago

Nordea second-quarter profits in line with forecasts

STOCKHOLM (Reuters) - Nordea (NDA.ST), the Nordic region’s biggest bank by value, posted in-line second-quarter profits on Wednesday and said it expected an approval of its advanced internal models for its corporate loan book to be delayed a few months.

Nordea bank logo is seen on the Riga branch office door June 10, 2013. REUTERS/Ints Kalnins

Operating profit for the period was 1.05 billion euros ($1.38 billion) compared with a mean forecast for 1.04 billion seen in a Reuters poll and a year-ago 1.08 billion.

    “We see a continued stabilisation of our credit quality,” CEO Christian Clausen said in a statement. “Loan losses declined to 22 basis points in the second quarter 2013. Loan losses in Denmark and shipping declined.”

    ($1 = 0.7612 euros)

    Reporting by Mia Shanley

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