Finland’s Nordea posts higher profit amid economic uncertainty
HELSINKI (Reuters) -Finland’s Nordea on Monday stated an increase in curiosity revenue had boosted its second-quarter core earnings, sending its shares greater than 2% increased in early buying and selling.
The financial institution’s April-June working revenue rose by 2% and internet curiosity revenue by 6% from a 12 months earlier, whereas internet charge and fee revenue fell 5%.
“We are able to count on continued volatility and uncertainty within the coming quarters,” Chief Govt Frank Vang-Jensen stated in an announcement.
OP Markets analyst Antti Saari stated he believed the present revenue degree was sustainable, even with a slowing financial system, as growing rates of interest compensate for decrease exercise in credit score demand and companies.
“The constructive influence of charge hikes within the curiosity revenue isn’t but seen nevertheless it ought to begin to present in the course of the coming quarters,” Saari stated.
Nordea’s second quarter working revenue rose to 1.36 billion euros ($1.37 billion), beating the 1.25 billion euro imply estimate of seven analysts polled by Refinitiv.
($1 = 0.9911 euros)
(Reporting by Essi Lehto, modifying by Helena Soderpalm, Kirsten Donovan)
