Income EUR 5,949m (EUR 5,744m in the first nine months 2007), up
4%
Net interest income EUR 3,707m (EUR 3,139m), up 18%
Cost increase in line with target 6.5%
Profit before loan losses EUR 2,761m (EUR 2,751m)
Loan losses EUR 146m (positive EUR 54m), a loan loss ratio of 8
basis points
Operating profit EUR 2,615m (EUR 2,805m), down 7%
No reclassification made of interest-bearing securities
Unchanged risk-adjusted profit EUR 1,795m (EUR 1,798m) - but up 5%
in customer areas
Return on equity 15.7% (19.5%)
Earnings per share EUR 0.78 (EUR 0.87)
Tier 1 ratio 7.9% (7.9%), excluding transition rules
Nordea expects unchanged risk-adjusted profit for the full year
compared to last year (for full outlook for 2008, see page 8)
Continued strength in customer areas
Continued support of customers - lending up 14%
Increased margins on corporate lending and household
mortgages
Continued funding strength - despite market stress
Strong and well-diversified credit portfolio
Total deposits up 13%, annualised growth in the third quarter
16%
Customer-driven capital markets activities performing well
High profit growth in New European Markets
"I am pleased that Nordea can once again report strong quarterly results
despite the extreme developments in the financial markets. Our customer areas
and growth initiatives continue to deliver as planned and our profitability is
maintained at a high level. Uncertainty and risks, however, have increased
significantly both in the financial markets and about the macroeconomic
development. Nevertheless, we are confident and well prepared with strong
profitability, high quality in the credit portfolio and a diversified funding
base to face the times of weakening economic activity. I therefore believe that
we are well positioned to outperform the market also going forward", says
Christian Clausen, President and Group CEO of Nordea.
