Income EUR 5,744m, up 9% (EUR 5,268m in the first nine months
2006*)
Expenses EUR 2,993m, up 7% (EUR 2,806m)
Gap between income and cost growth of 2.4%-points*
Very limited impact from market turmoil
Profit before loan losses EUR 2,751m, up 12% (EUR 2,462m*)
Risk-adjusted profit EUR 1,798m, up 17% (EUR 1,539m*)
Net profit EUR 2,278m, up 10% (EUR 2,078m*)
eturn on equity 19.5% (20.7%*)
Cost/income ratio down to 52% (53%*)
Positive net loan losses of EUR 54m (EUR 175m)
Earnings per share EUR 0.87, up 9% (EUR 0.80*)
*) Excluding the capital gain of EUR 199m from the divestment of International
Moscow Bank (IMB) in the third quarter 2006
Strong momentum from robust growth strategy
Total lending up 19%
Household mortgage lending up 17%
Corporate lending up 22%
Consumer lending up 11% - non-collateralised consumer lending up
17%
Total deposits up 13%
Volumes in savings accounts up 18%
Number of gold customers up 8%, number of Private Banking
customers up 16%
Strong increase in number of credit cards
"Nordea's organic growth strategy consistently delivers strong results.
Total income and the number of customers in prioritised segments as well as
business volumes continue to increase according to our growth plans. The gap
between growth in income and costs continues to meet our expectations and there
is therefore no change in the full-year outlook.
As a consequence of the most recent revised macroeconomic outlook in
general, somewhat slower growth in business volumes is expected in the medium
term. However, Nordea's assessment is that there will be a compensating effect
from stabilising or widening lending margins", says Christian Clausen,
President and Group CEO of Nordea.
