Nordea’s First Half Reveals Weak Performance; FVE Maintained
Nordea’s first-half 2018 net income of EUR 1.45 billion, excluding one-offs, indicates a 7% decline in local-currency terms when compared with the first half of last year. For the first half of 2018, its net interest income growth trailed peers, decreasing by 8% (Swedbank increased 4%, Handelsbanken 8%, and SEB 9%). First-half performance in fee-income generation was also worrisome at a 7% decline in local currency, lagging its peers, which posted positive growth. For the time being, we are main...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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