Nordea released this morning its Q2 17 results. Contrary to its Nordic peers, the most diversified bank’s total income was below expectations at €2.4bn (-2%). Total expenses were 2.5% worse than expectations while loan losses were just slightly better than expected. All in all, profit before tax is 5.5% lower than expected. The only positive news is on the capital which is 40bp higher qoq at 19.2%.
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Nordic peers did better
Nordea released this morning its Q2 17 results. Contrary to its Nordic peers, the most diversified bank’s total income was below expectations at €2.4bn (-2%). Total expenses were 2.5% worse than expectations while loan losses were just slightly better than expected. All in all, profit before tax is 5.5% lower than expected. The only positive news is on the capital which is 40bp higher qoq at 19.2%.