Nordea Banks quarterly earnings beat estimates

div classBodysc17zpet90 cdBBJodivpHELSINKI Reuters – Finland‘s Nordea Bank reported quarterly earnings on Thursday that beat analysts’ estimates, helped by growth in lending volumes and low loan losses.p

pWhile Nordea had seen customer activity picking up after pandemicrelated restrictions were lifted, the conflict in Ukraine led to customers worrying about rising prices, the bank said.pdivdivdiv classBodysc17zpet90 cdBBJodiv

p“We expect to get a clearer picture of the potential effect of the macroeconomic impacts on our customers during the second quarter,” Chief Executive Officer Frank VangJensen said.p

pThe banks JanuaryMarch operating profit rose to 1.1 billion euros 1.16 billion from 1 billion a year earlier, beating estimates of 963 million, according to Refinitiv IBES data.p

pNet fee and commission income rose 5 to 870 million euros, while there were no loan losses. Net interest income rose 8 to 1.3 billion euros.p

p1 0.9516 eurosp

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pp Reporting by Essi Lehto Editing by Muralikumar Anantharaman and Shounak Dasguptap

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