Banks, Estonia, Financial Services

International Internet Magazine. Baltic States news & analytics Friday, 14.06.2024, 01:25

Nordea in Estonia earns 12 mln euros of profit in Q1

BC, Tallinn, 24.04.2013.Print version
The Nordea bank earned 12 million euros of profits in Estonia in the first quarter of the year 2013 versus 12.8 million euros at the same time last year, LETA/Postimees Online reports.

The turnover of the bank fell from 20.1 million euros in the first quarter of last year to 19.2 million euros this year.


The revenues were affected most by fall of base interest rates and inadequate loan demand, said the bank's manager Vahur Kraft.


Nordea Estonia client deposits formed nearly 1.1 million euros at the end of March, a growth of 17% in a year.


The loan portfolio of the bank reached nearly 3.1 billion euros, of which leaisng portfolio forms 575 mln euros.


The loan loss allocations formed 0.02% of the portfolio.

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