Nordea Bank AB (publ)


Nordea Bank AB: Second Quarter Results 2017

COPENHAGEN, DENMARK--(Marketwired - Jul 20, 2017) - Nordea Bank AB (EURONEXT PARIS : XHFT )

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Second Quarter Results 2017

CEO Casper von Koskull's comments on the results:

"In the second quarter, we have seen evenly distributed growth in our four Nordic home markets. The overall economic situation remains very solid although the geopolitical environment is increasingly unstable.

After a period of improved margins, we recently saw a stabilising margin trend, which we expect to continue. We are also seeing continued high activity in corporate advisory services and improved inflow in asset management operations. Customer activities in the capital markets have been lower this quarter due to low volatility. We have had very high activity in the quarter in our simplification and transformation projects, which has impacted the cost development. Credit quality is solid and we expect loan losses below the long-term average in coming quarters. We continue to build up and strengthen our capital position and the Common Equity Tier 1 ratio reached an all-time-high level of 19.2%.

As new initiatives have surfaced in Scandinavia about exploring to join the banking union, we would like to process this information before making a final decision in September about our domicile. The transformation programme is progressing according to plan, a key milestone has been reached in the Core Banking Programme, and approximately 28,000 Nordea employees have been engaged in the implementation of the new business culture."

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