Finland's Nordea Bank Q4 posts operating earnings slightly above estimates (updated)

Nordea Bank Abp

30/01/2025 05:58

(Adds details and context in paragraphs 2-5)
       Jan 30 (Reuters) - Finnish lender Nordea Bank  NDAFI.HE 
reported fourth-quarter operating earnings slightly above
estimates on Thursday and said the Nordic mortgage and corporate
lending markets remained slow amid declining interest rates and
an improving housing market.
    Operating profit rose 5% to 1.47 billion euros ($1.53
billion) for the quarter ended Dec. 31, compared with a mean
forecast of 1.45 billion euros in an LSEG poll of analysts.
    The bank's net interest income fell 5% year on year to 1.85
billion euros, following policy rate reductions, against a poll
forecast of 1.84 billion euros.
    The Nordic region's biggest lender said it expects return on
equity to stay above 15% in 2025.
    After benefiting from higher net interest income driven by
interest rate hikes across the region, Nordea now faces a
shifting landscape as central banks pivot to easing policies,
with lower lending income and pressure on profitability from
reduced rates on the horizon.
    


($1 = 0.9599 euros)

 (Reporting by Jesus Calero, editing by Rashmi Aich)
 ((jesus.calero@thomsonreuters.com))