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Nordea to review financial targets after second quarter profits drop

Nordea to review financial targets after second quarter profits drop
FILE PHOTO: FILE PHOTO: The Nordea Bank AB logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren -
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Chris Helgren(Reuters)
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HELSINKI (Reuters) – Nordea Bank <NDAFI.HE>, the Nordic region’s biggest lender, posted on Thursday a fall in second-quarter profits, and said it would review its financial targets during upcoming months.

Net profit fell 11% from a year earlier to 681 million euros (614.95 million pounds), missing analysts’ average expectation of 739 million euros in a poll.

Net interest income, the bank’s most important income line, fell 4% from a year earlier to 1.07 billion euros, having been under pressure due to fierce competition in mortgages and household loans across the region.

Nordea said it plans to present new financial targets, including the capital and dividend policy after the release of the third quarter 2019 results.

(Reporting by Tarmo Virki; Editing by Christian Schmollinger)

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