Total income at €2.45bn is a bit higher than consensus’ expectations and just lower than our own expectations. Core revenues at €2.06bn are 2% higher than our expectations and those of the consensus, driven by a strong quarter in terms of fees/commissions. Total expenses at €1.25bn are a bit higher than those of the consensus and 5% higher than our own expectations. As for its Swedish peers, Nordea disclosed a very low level of loan losses at €113m (same low level as
27 Apr 2017
High operating costs offset by lower loan losses
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High operating costs offset by lower loan losses
Total income at €2.45bn is a bit higher than consensus’ expectations and just lower than our own expectations. Core revenues at €2.06bn are 2% higher than our expectations and those of the consensus, driven by a strong quarter in terms of fees/commissions. Total expenses at €1.25bn are a bit higher than those of the consensus and 5% higher than our own expectations. As for its Swedish peers, Nordea disclosed a very low level of loan losses at €113m (same low level as