Nordea Posts Slow 1Q18: While Cost Control & Loan Losses Managed Well, Top-Line Growth Stale
Nordea’s first-quarter 2018 net income came in at EUR 820 million, indicating a 1% decline in local-currency terms when compared with first-quarter 2017. The quarter-on-quarter increase was sharp at 30%. As it stands, the first quarter trended behind our 14% net income growth estimate, but we will maintain our full-year estimate for the time being. First-quarter return on equity came in at 10% versus our full-year estimate of 10.6%. Narrow-moat Nordea’s first-quarter performance was hit by weak ...Nordea Bank is a financial services group based in Sweden. Co. has three business areas: retail banking, wholesale banking, and wealth management. Retail banking conducts a full service banking operation and serves household and corporate customers in the Nordic markets as well as the Baltic countries. Wholesale banking provides banking and other financial solutions to large Nordic and international corporate, institutional and public companies. Wealth management provides investment, savings and risk management products. It also manages customers' assets and provides financial advice to individuals and institutional investors.
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