Nordea’s First Half Displayed Stable Performance; No Decision Made on Redomiciling the Bank Yet
Nordea posted steady first-half performance, with top-line results remaining flat compared with last year. However, its net interest income growth trailed peers, increasing by only 1% (Swedbank increased 10%, Handelsbanken 6%, and SEB 4%). Good performance in fee income generation continued, with a 9% increase in EUR (and 10% in SEK), in line with peers. Overall, while its net profit of EUR 1.6 billion year to date was a decline of 11% year over year, the bank is still within reach of our full-y...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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