Nordea Bank’s performance in 1H2015

16.07.2015

Nordea Bank’s performance in 1H2015

In the first two quarters of 2015 Nordea Bank earned more net profit than in the same period last year.
 

As of 2Q2015 the Bank’s equity grew by 14%, up to RUB 35.36bn. Assets totalled RUB 324.25bn (+7% y-o-y).

Total loans increased by 22%, up to RUB 267.18bn, mostly driven by the exchange rate fluctuations. Loans to corporates amounted to RUB 222.75bn (+26% y-o-y). As of 1H2015 net profit was RUB 2.53bn (+42% y-o-y), owing to a higher net interest income and derivative income. As of 01.07.2015 capital adequacy ratio (N1) went up from 17.53% to 19.78% (y-o-y).

CEO Igor Bulantsev: ”Our strategy aimed at increasing efficiency while retaining the robust business has proved to be successful: our profit increased with operating expenses unchanged as compared to the previous year, our capital adequacy ratio is high and corporate NPL has been almost zero over several consecutive quarters. In the 3rd quarter we are going to further pursue our development strategy”.

Key financials (IFRS, bn RUB)
01.07.2014 01.07.2015
 Equity  31,13  35,36
 Assets  304,43  324,25
 Loans, including to banks:  218,32  267,18
     Loans to corporates  176,51  222,75
 Net profit  1,78 2,53 

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