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Nordea profit up 30% on forex-hedging demand

2015-04-29 09:29:34| Appliances - Topix.net

Swedish banking group Nordea AB Wednesday reported a 30% rise in first quarter net profit as central bank moves in Europe and Scandinavia drove up demand for its currency hedging and risk management solutions, offsetting pressure on deposit margins from negative interest rates. Net profit at the Stockholm-based bank rose to EUR1.08 billion in the three months ended March 31, from EUR831 million in the same period a year earlier and above a EUR900 million mean forecast by analysts in a FactSet poll.

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