Baltic, Banks, Deposits, Financial Services, Investments

Total savings and investment product portfolio volumes showed a steady increase and total deposit volumes have increased by 5% in comparison to the same period last year. The volume of the household deposits portfolio continues to grow, increasing 30% y-o-y.

“Although the financial industry is experiencing times of low interest rates and overall modest economic growth, Nordea Baltic business has delivered solid results for the first half-year of 2015 that demonstrate increasing customer activity in both private and corporate customer segments,” says Inga Skisaker, Head of Nordea Banking Baltics.

In the first half-year of 2015 Nordea Bank in Estonia delivered operating profit of EUR 22 million. The average volume of total deposits by Nordea Estonia customers increased 1% in comparison to the same period last year and the average volume of household deposits continues to grow, increasing 26% y-o-y. The average volume of the loan portfolio of Nordea Estonia increased 3%, including a 4% rise in the corporate loan portfolio and 3% in household lending.

“In developing our activities and offering, we aim to provide our clients the best solutions in the current economic environment. As Estonia has entered a more stable growth path we also see increasing and more versatile export opportunities for our corporate clients in the coming years,” comments Petri Nikkilä, Head of Nordea Estonia. ”We continue to encourage people to pay more attention to savings and investment activities as a natural part of their daily banking operations. With low rates and inflation recovering more clients are considering investments in addition to deposits.”