Nordea Bank Q4 net income increases

Comtex News Network

Feb 01, 2013 (Datamonitor via COMTEX) --Nordea Bank AB, a Sweden-based bank engaged in corporate merchant banking, has reported that net income attributable to shareholders of the company for the fourth quarter ended December 31, 2012 was E840 million, or E0.21 per share, compared to E785 million, or E0.19 per share, for the fourth quarter ended December 31, 2011.

Net interest income for the fourth quarter ended December 31, 2012 was E1.43 billion, compared to E1.43 billion for the fourth quarter ended December 31, 2011.

Net income attributable to shareholders of the company for the year ended December 31, 2012 was E3.12 billion, or E0.78 per share, compared to E2.63 billion, or E0.65 per share, for the year ended December 31, 2011.

Net interest income for the year ended December 31, 2012 was E5.75 billion, compared to E5.46 billion for the year ended December 31, 2011.

CEO Christian Clausen's comment to the results: "In 2012, we had more customers, more capital and higher profit than ever before. We are ahead of the plan that was established in 2011. On that foundation, we will shape the future of Nordea, with closer customer relationships, unchanged costs and increased return on equity.

"85,000 new relationship customers and more business with our customers have led to an increased income in the quarter and the year. The flat cost target was achieved in 2012. Despite lending growth of 3%, risk-weighted assets were reduced by 9%.

"Return on equity increased in 2012 to 11.6% and the core tier 1 capital ratio increased to 13.1%. Dividend is proposed to be EUR 0.34, which corresponds to a payout-ratio of 44%, in line with our policy."

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