Latest interim results

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Frank Vang-Jensen, President and Group CEO, presented the results followed by a Q&A audio session for investors and analysts with Frank Vang-Jensen, Ian Smith, Group CFO, and Matti Ahokas, Head of Investor Relations.

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Nordea’s group CEO Frank Vang-Jensen on the half-year results 2022

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Nordea’s group CEO Frank Vang-Jensen on the half-year results 2022
 

Second-quarter highlights:

Continued growth in lending volumes, strong performance in corporate sector

  • Mortgage volumes up 6% y/y, SME lending up 7% y/y and large corporate lending was up 16% y/y. Assets under management down 9% q/q.

Higher income and increased operating profit despite market turbulence

  • Net interest income up 6%, net fee and commission income down 5% and net fair value result up 1%
  • Operating profit up 2% compared with record levels in Q2 2021

Cost-to-income ratio 49%, costs excluding regulatory fees down 1%

Strong credit quality – EUR 45m released from COVID-19 management judgement buffer

  • Net loan losses and similar net result amounting to reversals of EUR 56m or 6bp during quarter

Return on equity 13.3% and earnings per share EUR 0.28

EUR 4.5bn distributed to shareholders YTD and new EUR 1.5bn share buy-back programme launched

 

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