Income EUR 1,961m (EUR 1,873m in the first
quarter 2007), up 5%
Net interest income EUR 1,181m (EUR 1,004m),
up 18%
Risk-adjusted profit EUR 584m (EUR 576m), up
1%
Profit before loan losses EUR 906m (EUR
881m), up 3%
Loan losses EUR -21m (positive EUR
13m)
Net profit EUR 687m (EUR 701m), down
2%
Return on equity 15.8%
(18.0%)
Earnings per share EUR 0.26 (EUR
0.27)
Continued strong growth in volumes and high
customer activity, despite challenging markets
Total lending up 14%
Corporate lending up 18%
Total deposits up 12%, of which volumes in
savings accounts up 21%
Number of Gold customers up 7%, number of
Private Banking customers up 13%
Increased lending
margins
Strong development in the customer-driven
capital markets activities
Strong income growth in New European
Markets
"I am pleased, that we in a period with
increasing turbulence and challenging financial markets have been able to
continue to grow our business, increase revenues and improve the result before
loan losses. This is due to a combination of a strong balance sheet, limited
exposure to the market turmoil and the continued successful execution of our
organic growth strategy. The report shows that we are on track with our
long-term targets and that we are consistently following our plans when it comes
to both income growth and cost development. All banks now experience increasing
funding costs, and increased uncertainty related to the macroeconomic outlook.
However, so far we see no evidence of a slowdown in customer activities and we
maintain our financial outlook for 2008", says Christian Clausen, President and
Group CEO of Nordea.
