Nordea: Interim Report Third Quarter 2006

• Income up 12% to EUR 5,478m (EUR 4,877m in the first nine months of 2005).
• Gain on sale of shares in International Moscow Bank (IMB) of EUR 199m included in the third quarter.
• Net profit up 29% to EUR 2,277m (EUR 1,763m).
• Operating profit up 24% to EUR 2,853m (EUR 2,300m).
• Costs up 3%.
• Gap between revenue and cost growth 5.1%-points, excl. impact of IMB sale.
• Cost/income ratio continued down.
• Positive net loan losses of EUR 175m (EUR 130m) – 10th consecutive quarter with net recoveries.
• Earnings per share EUR 0.88 (EUR 0.66), up 33%.
• Return on equity 22.6% (18.8%).

Organic growth strategy consistently pays off – strong momentum in key growth areas

• Consumer lending up 12%.
• Number of credit cards increased by 22%.
• SMEs lending up 10%.
• Increased cross-selling of Markets' products to SMEs.
• Assets under Management up 10%.
• Strong growth in Private Banking.
• Net written premiums in Life up 32%.

"The robust Nordea business model and the execution of our organic strategy consistently pay off.

We realise strong performance and broadly based and profitable growth in all business areas with double digit growth in key growth areas. Our well-diversified business mix and focus on continuous improvements combined with prudent cost and risk management has materialised in results exceeding our targets.

I am confident that we will be able to realise a gap between income and cost growth of at least 5% points for the full year", says Lars G Nordström, President and Group CEO of Nordea.