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Nordea Bank Posts 10% Profit Growth


Nordea Bank, the Nordic region's largest financial group, on Thursday reported a 10% rise in second-quarter net profit, citing higher volume growth and better margins.

Nordea said earnings for the quarter rose to 815 million euros ($1.12 billion), from 739 million euros a year earlier.

Net interest income, the bank's main source of revenue, rose 9% to 1.04 billion euros ($1.43 billion) on solid volume growth in all segments, Nordea said.

Nordea shares, which have risen 37% over the past year, were up 1% at 113.20 kronor (12.35 euros; $17.02) in morning trading in Stockholm.

The Swedish government said in December it plans to sell its 19.9% stake in the bank as part of its plans to reduce state-owned assets.

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Company Web site: http://www.nordea.com