Nordea Bank has summarized the results of its performance in H1 2010

22.07.2010

Nordea Bank has summarized the results of its performance in H1 2010

Based on the results of its performance in H1 2010, OJSC Nordea Bank has posted a positive dynamics as far as most of the key indicators are concerned.

Compared to H1 2009, the Bank’s equity is up 12.98% to 27.51 billion rubles, assets are up 1.26% to 158.46 billion rubles.

As of Q2, the Bank’s total credit portfolio amounted to 145.98 billion rubles, increasing by 2.35% against the same period last year.

The Bank has issued loans to companies and organizations in a total amount of 125.53 billion rubles, private individuals – 10.07 billion rubles.

Customer accounts are up 8.57% to 30.28 billion rubles in comparison with the same period last year.

As of July 1, 2010 the net profit stood at 1.68 billion rubles, being less than in the same period of 2009, which is primarily due to a lower interest income resulting from the interest rate reduction effected in 2010 with regard to existing loans, given a tougher competition on the prime borrowers lending market.

Key financial figures of OJSC Nordea Bank (as per IFRS, billion rubles)

01.07.200901.07.2010

Equity(capital)

24,35

27,51

Assets

156,49

158,46

Credit portfolio (including loans to banks)

142,63

145,98

Loans to companies and organizations

122,16

125,53

Loans to private individuals

9,97

10,07

Customer accounts

27,89

30,28

Net profit

2,06

1,68


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