Nordea released this morning its numbers for Q2 21. These were better than expected across-the-board with core revenues above expectations and total expenses mechanically higher. Management’s guidance for FY2021 total costs is now at €4.6bn (vs below €4.6bn previously) but the 2022 guidance is unchanged (C/I ratio at 50% and ROE above 10%). The CET1 ratio is well above capital requirements as management is explicitly planning buy-backs. We will revise upwards our EPS expectations for FY2021 and ....
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Better numbers...again
Nordea released this morning its numbers for Q2 21. These were better than expected across-the-board with core revenues above expectations and total expenses mechanically higher. Management’s guidance for FY2021 total costs is now at €4.6bn (vs below €4.6bn previously) but the 2022 guidance is unchanged (C/I ratio at 50% and ROE above 10%). The CET1 ratio is well above capital requirements as management is explicitly planning buy-backs. We will revise upwards our EPS expectations for FY2021 and ....