Array ( )
CEO Casper von Koskull’s comments on the results:
“The operating environment for Nordea remains stable with continued lending growth, pressurised margins and challenging conditions for our market making activities. Our actions from the past 12 months have, however, led to some encouraging signs of regaining market shares and future cost reductions but it will take time before these increased activity levels are fully reflected in the results.
That said, our performance is not satisfactory, and further actions are needed to strengthen the financial results. I am confident that the investments we have made in regulatory and systems infrastructure, together with our committed and skilful employees, will ensure a powerful future development for the bank.
Nordea has in recent years de-risked the bank, invested in our digital and compliance platforms, concentrated our operations to the Nordic markets and has entered a new phase of customer focus. The financial environment has also changed with expected lower rates for longer, and we will soon have more clarity on our capital requirements within the banking union. For these reasons Nordea will review its financial targets, including the capital and dividend policy with an expectation to present these after the release of the third quarter 2019 results.