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Better earnings than expected for the Nordea

the banking Group Nordea reported an operating prot of eur 689 million, corresponding to about 7.1 billion, for the fourth quarter of 2018. It can be compared with the profit of 796 million euros in the corresponding period the year before.

Analysts had on average expected an operating profit of eur 656 million, according to a reuters poll.

2.103 million, compared with 2.228 million in the fourth quarter of 2017.

net interest income rose to 1 126 million, from eur 1,109 million. Expected was a net interest income of 1.075.

Nordea's ceo Casper von Koskull think that the bank has taken several important steps in the transition in 2018 and that the company is on the right track regarding the goal to bring down the costs by three per cent to 2021. But he is not satisfied with the results for the fourth quarter.

”at the same time is the result for the year 2018 is not at the level we want it to be. The year was marked by challenges on the revenue side as a result of margin pressure in lending to households, subdued volume growth and pressure on revenue from lending and market making,” he writes in the report.

the Margins stabilised during the end of the year, but Casper von Koskull describes the market conditions in the fourth quarter as difficult.

in the customer satisfaction surveys have their priorities clear before 2019, according to the ceo. Kundsatsningar and the business activity should increase at the same time that the organization shall work with the cost-effectiveness.

”Now it's all about execution”, says Casper von Koskull.

the Board of directors proposes a dividend to shareholders of 0:69 euro per share, which compares with the dividend of last year at 0:68 eur per share.

Read also: Handelsbanken increased profits

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