Nordea in Baltics earns EUR 76 mln

Oct 26, 2015

Nordea Baltic division reported operating profit of EUR 76 million in the first three quarters of 2015. Total income increased by 12% reaching EUR 144 million of which net commission income is amounted to EUR 21 million, increasing by 17% compared to the respective period of year 2014. Total lending volumes remained stable, while the deposit portfolio increased by 5% y-o-y. Nordea continues delivering on Baltic strategy, focusing on building long-term sustainable relationships with its customers.

Nordea bank in Latvia reported EUR 25.3 million in profits over nine months of the year 2015. Total income increased by 28% compared to the respective period of year 2014 reaching EUR 52.2 million. Net interest income level remained stable; the commission income reached EUR 7.4 million, an increase by 8% year on year.

"Nordea in Baltic countries demonstrated stable growth of revenue, supported by increasing activity of home-bank customers and daily transaction volume growth in private and corporate segments during the first three quarters of 2015. In spite of ultra-low interest rates environment, we maintained a solid advancement of interest income. Commission income also showed a solid growth driven by our continuous focus on relationship banking strategy. Due to increasing market volatility we observe higher demand amongst our customers for risk management solutions, particularly for foreign exchange and interest rate products, and advisory services.

We see the significance of remote services continuously growing. Latest data shows that number of active mobile netbank users increased by 58% and cards activity by 15% compared to year 2014. Reflecting the ongoing changes in our customers' behaviour and higher demand for efficient and reliable remote daily banking services, we keep on developing opportunities towards convenient online banking, especially in regard of more efficient customer service," says Inga Skisaker, Head of Nordea Banking Baltics. 

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