(ADPnews) - Apr 28, 2011 - Sweden-based Nordea Bank AB (STO:NDA) said today its operating profit grew 14% year-on-year to a better-than-expected EUR 1 billion (USD 1.486bn) in the first quarter of 2011 thanks to higher income and decreased loan losses.
Analysts polled by SME Direkt had on average forecast an operating profit of EUR 939 million.
In January-March 2011, Nordea saw its total income rise 9% on the year to EUR 2.510 billion, versus an expected EUR 2.395 billion. Net interest income also improved -- by …
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