Nordea Baltic organization reported operating profit of 54 million euros in the first half-year of 2015. Total income increased by 9% compared to the same period last year, while total commission income has increased by 18%. Total savings and investment product portfolio volumes showed a steady increase and total deposit volumes have increased by 5% in comparison to the same period last year. The volume of the household deposits portfolio continues to grow, increasing 30% y-o-y.
“Although the financial industry is experiencing times of low interest rates and overall modest economic growth, Nordea Baltic business has delivered solid results for the first half-year of 2015 that demonstrate increasing customer activity in both private and corporate customer segments. Customer surveys showed that on average more than 80% of our customers in all three Baltic countries recognize the importance of savings. We are constantly updating our product range to meet the demands of our growing customer base and recently several initiatives have been started to strengthen savings and investment advisory capabilities as well as improve mobile and electronic banking offerings. We continue to develop more advanced remote solutions and services to offer our customers a seamless, multi-channel experience that combines branch service with online access,” says Inga Skisaker, Head of Nordea Banking Baltics. “We also keep executing our capital efficiency programs, maintaining a clear focus on reducing the funding gap in order to ensure an efficient and sustainable balance sheet structure,” adds the Head of Nordea Banking Baltics.
Lithuania
Nordea bank in Lithuania earned operating profit of EUR 15 million in the first half-year of 2015. Total deposits increased 15% y-o-y, reaching a high figure – EUR 1.1 billion. Deposit growth was driven by a 48% rise in the volume of household deposits, while corporate deposits went up by 5% compared to the same period last year. Nordea’s loan portfolio decreased by 9% y-o-y and accounted for EUR 2.2 billion. The volume of corporate loans dropped by 14%. Household loans increased insignificantly by 1%. The bank’s mortgage loan portfolio increased by 2% and reached EUR 0.7 billion.
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