Friday August 22, 2014

subscription options

Print Edition»

  • Includes free
    digital edition
  • Digital Edition»

  • Print format with
    enhanced features!

    • What do you consider to be the 2013 Story of the Year?
    • B.C. election
    • 36%
    • TRU law school
    • 4%
    • Proposed Ajax mine
    • 43%
    • Jack Shippobotham death
    • 3%
    • Starving horses seized
    • 11%
    • Red Lake cold case
    • 3%
    • Total Votes: 1070

    Home »  News »  Business

    Sweden's Nordea boasts record profit in 2012 despite higher loan losses

    STOCKHOLM - Banking group Nordea AB says it posted record profits in 2012 as a combination of cost-cutting measures and a larger customer base more than offset bigger loan losses.

    The Nordic region's largest banking group says net profit rose 19 per cent to 3.1 billion ($4.2billion) while net interest income, its largest source of revenues, rose 5 per cent to nearly 5.6 billion.

    The bank also says Wednesday that it had net loan losses of 933 million during the year, mainly due to volatility in the shipping industry and Danish housing market.

    Nordea says the bank was able to post a "higher profit than ever before" thanks to a financial plan to cope with the increasing difficulties in European economies.


    NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

    The Kamloops Daily News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

    blog comments powered by Disqus

    Sitemap / RSS   Glacier Community Media:    © Copyright 2014 Glacier Community Media | User Agreement & Privacy Policy

    LOG IN

    Lost your password?