Total income increased by 11%, whereas net commission income went up 16% year-on-year, driven by the growing number of transactions both in the household and corporate segments. A strong outcome in terms of foreign exchange and derivatives contributed to an improved net fair value result. Total deposits increased by 5% in relation to current accounts, due to continued focus on home-bank relationships.
"Nordea" has shown strong financial performance in the Baltics throughout the year. As the domestic economy picked up significantly with private consumption and domestically-oriented investments, the demand for various bank savings and investments products also showed stable growth. We have positively contributed to our business strategy, ensuring more efficient and sustainable balance sheet structure. Due to increasing deposit volumes and stable trends in corporate lending, deposit/lending ratio has improved significantly," says Inga Skisaker, Head of Nordea Banking for the Baltic countries. "When developing our product offerings, we aim to provide solutions for current economic environment to best align to our customer needs. That is also the main driving force behind significant ongoing developments in online banking, best-in-class risk management and cash management solutions. Close cooperation with our target customers and continuous customer activation will remain important part of our daily banking to positively contribute to our home-bank strategy."
Lithuania:
In 2015, Nordea bank in Lithuania reported operating profit amounting to EUR 21.4 million, an increase by 8% year on year. Net interest income showed a slight increase by 1% and net comission income decreased by 6%. The decrease was mainly due to low interest rates and effects related to euro introduction.
Total deposit portfolio demonstrated an increase by 1%, reaching a figure of EUR 1.3 billion, mainly driven by stable growth of deposit volumes in household segments (by 9% y-o-y). Total lending volumes increased by 3% year on year, including 3% and 2% growth in corporate and household loans respectively. The mortgage loan portfolio increased by 3% and reached EUR 0.7 billion.
"Lithuania, like the other Baltic countries faced similar economical environment and financial market trends in 2015. In the second half of 2015 we saw a positive and more active trend with lending volumes, both to corporate and private clients. In 2016 we will continue to deliver great customer experiences by expanding online products, remote channels and providing more convenience and security for daily banking services,"- says Inga Skisaker.
"Nordea" group results could be found here.
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