Nordea released its numbers for Q419 this morning. Gross operating income was roughly 1.6% below expectations due to lower volatile other and trading income. Adjusted for these items, it was indeed some 6 % above consensus forecasts. Core revenues (NII and fees/commissions) were above expectations whereas expenses were well under control (-2.4% below expectations). CET1 ratio at 16.3% was 90bps higher QoQ and 70bps above consensus expectations (decrease in RWA).
