Nordea Bank AB Reports Earnings Results for the Fiscal Year 2011
January 26, 2012 at 11:27 pm IST
Nordea Bank AB reported earnings results for the fiscal year 2011. For the period, the company reported an 80% year-on-year slide to SEK 2.05 billion in net profit drafted to the International Financial Reporting Standards (IFRS) in 2011. The bank earned SEK 3.59 billion in IFRS net profit. A decline in profit was driven by several factors including lower margin of the credit portfolio and also a contraction in the portfolio itself in the first half of the year.