Nordea’s Q2 profits approach 10 billion

Nordea reported a Q2 profit of €1.303 billion (about 9.7 billion DKK), slightly down by 2% year-on-year. Interest income increased to €1.904 billion, and fee income grew by €44 million, but operating expenses also rose to €1.278 billion. CEO Frank Vang-Jensen remains optimistic, expecting continued improvement with declining inflation and anticipated interest rate cuts boosting the Nordic economies. Nordea’s first-half return on equity was above the target of 15%, at 18.1% and 17.9%, and strives for even better results by 2025. The bank, operating in Denmark, Sweden, Norway, and Finland, has been charged with inadequate prevention of money laundering, related to actions before 2015. After failing to settle, the case is heading to court.