Nordea Second Quarter Report 2012

19.07.2012

Nordea Second Quarter Report 2012

Strong income and solid cost control

CEO Christian Clausen’s comment to the report:

"We maintained good business momentum and increased return on equity despite continued pressure on interest rates, financial turmoil and the slowdown in European economic activity.

We have continued to make progress in building the future bank. The execution of our New Normal plan has led to more business and growing income, while costs have remained stable and efficiency in capital, liquidity and funding has increased.

By taking early action, Nordea has maintained a strong rating and thus been able to continue to support customers in developing their family finances or corporate businesses. This is our most important contribution to growth and development in the societies where we operate."

(For further viewpoints, see CEO comments, page 2)

First half-year 2012 vs first half-year 2011 (second quarter 2012 vs first quarter 2012):

  • Net interest income up 9% (up 3%)
  • Operating profit up 9% (up 6%)
  • Core tier 1 capital ratio increased to 11.8% excluding transition rules from 11.0% (up from 11.6% in the first quarter)
  • Cost / income ratio down to 50% (unchanged at 50%)
  • Net loan losses up to 26 basis points from 23 basis points (unchanged at 26 basis points)
  • Return on equity 12.1%, up from 11.7% (up to 12.5% from 11.7%)

Summary key figures,
EURm

Q2
2012

Q1
2012

Ch.
%

Q2
2011

Ch.
%

H1
2012

H1
2011

Ch.
%

Net interest income

1,462

1,420

3

1,326

10

2,882

2,650

9

Total operating income

2,606

2,531

3

2,342

11

5,137

4,852

6

Profit before loan losses

1,316

1,255

5

1,067

23

2,571

2,312

11

Net loan losses

-217

-218

0

-118

84

-435

-360

21

Loan loss ratio (ann.), bps

26

26

 

15

26

23

Operating profit

1,099

1,037

6

949

16

2,136

1,952

9

Risk-adjusted profit

851

799

7

643

32

1,650

1,414

17

Diluted EPS, EUR

0.21

0.19

0.18

0.40

0.36

Return on equity, %

12.5

11.7

11.5

12.1

11.7

Second Quarter Report 2012 (PDF)


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