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Thu, January 30, 2025

Finland's Nordea Bank Q4 posts operating earnings slightly above estimates


Published on 2025-01-30 01:40:47 - Reuters
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  • Finnish lender Nordea Bank reported fourth-quarter operating earnings slightly above estimates on Thursday and said the Nordic mortgage and corporate lending markets remained slow amid declining interest rates and an improving housing market.

Nordea Bank, Finland's largest lender, reported its fourth-quarter operating earnings slightly above expectations on January 30, 2025, with an operating profit of 1.42 billion euros, compared to the 1.39 billion euros anticipated by analysts. The bank's net interest income rose to 1.86 billion euros from 1.79 billion euros in the previous quarter, driven by higher interest rates. However, net fee and commission income decreased to 745 million euros from 768 million euros. Nordea also announced a share buyback program of up to 1 billion euros, reflecting confidence in its financial health. Despite the positive earnings, the bank noted a slight increase in costs and a decrease in net loan losses, which were at 29 million euros compared to 34 million euros in the prior quarter.

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[ https://www.reuters.com/business/finance/finlands-nordea-bank-q4-posts-operating-earnings-slightly-above-estimates-2025-01-30/ ]
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