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Banking · Earnings · Guidance · Nordea
Nordea Bank reported first-quarter net profit attributable to shareholders of 1.1 billion euros, exceeding analyst forecasts of 1.05 billion euros, and affirmed its full-year guidance for a return on equity above 15% and a cost-to-income ratio around 45% despite global growth uncertainty.
The Helsinki-based bank's net profit was down slightly from 1.21 billion euros a year earlier, as net interest income fell 3.8% to 1.76 billion euros, though this also surpassed FactSet's analyst forecast of 1.74 billion euros. Nordea's net fee and commission income rose 6% year-over-year, even with market volatility in March.
The bank incurred 190 million euros in restructuring costs during the quarter, associated with its 2030 strategy implementation. Nordea observed that Nordic businesses maintain confidence despite global growth concerns, and its business banking segment achieved strong volume growth, with both lending and deposit volumes increasing by 8%.
The common equity Tier-1 ratio remained stable at 15.7% compared to the previous year.
