In the first half of 2017 Nordea in the Baltic countries reported operating profit of EUR 49 million, a 19% growth year on year. Net interest income went up 3%, net fee and commission income increased by 13% driven by stronger sales of banking products, higher customer activity in daily banking services also supported by the growing usage of digital channels. Total income increased by 1% to EUR 103 million.
Due to stronger home-bank relationships total deposit volumes have shown higher increase, by 11% year or year, whereas total lending portfolio grew up by 4%.
“During the first six months of 2017 Nordea Baltic countries has successfully delivered on strategy strongly contributing to all strategic targets - improving funding gap, increasing capital efficiency and activating our home-bank customer base. As a result of higher customer activity and stronger focus on home-bank customers, we see a stable increase in total deposit volumes. Also, overall demand towards investment products and offerings shows an increase compared to the respective period last year. Reflecting changing customer needs, Nordea keeps delivering improvements in digital area, ensuring more convenient and efficient daily banking solutions to all customer segments. For example, we have now expanded Nordea Online advisory for corporate customers. Also, the new secure authentication tools Nordea Codes, the first fingerprint-ID in the Baltics, corporate web portal with the online account opening solution, and continuous upgrades in Nordea Mobile app have been very positively received by our customers,” says Inga Skisaker, Head of Banking Baltic countries.
Nordea in Lithuania announces profit of EUR 12.3 million in H1 2017
Total income of Nordea in Lithuania has reached EUR 24.6 million in the first half of 2017. The growth of income by 4%, compared to the respective period in 2016, was supported by increasing usage of daily banking products and the overall interest towards investment products. In the first six month of 2017, Nordea in Lithuania reported EUR 12.3 million operating profit.
Nordea's total deposit portfolio in Lithuania grew by 33% compared to the respective period in 2016, amounting to EUR 1.27 billion. Corporate customer deposit portfolio increased by 53%, reaching EUR 0.94 billion compared to 2016, whereas household deposit portfolio shows a slight decrease by 3% over the same period in 2016, amounting to EUR 0.33 billion.
Total lending portfolio went up by 6% compared to H1 2016 and amounted to EUR 2.43 billion. Lending to corporates amounted to EUR 1.49 billion, whereas the household lending portfolio – EUR 0.94 billion. Corporate lending portfolio increased by 5% in the first half of 2017 compared to the same period last year while household lending portfolio increased by 6%.
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