29 Apr 2014 16:57

Nordea Bank ups net profit to IFRS 3% in Q1

MOSCOW. April 29 (Interfax) - Nordea Bank, which is part of the Scandinavian group Nordea, upped net profit to International Financial Reporting Standards (IFRS) by 3% to 956.9 million rubles from 925.2 million the previous year, the bank reported.

Assets grew 11% to 307.1 billion rubles (276.7 billion rubles at the start of the year). Equity climbed 3.3% to 30.30 billion rubles.

The loan portfolio, including loans to banks, went down 4.5% to 242.9 billion rubles. Corporate loans expanded 7.4% to 193.2 billion rubles and retail loans rose by 1.5% to 22.4 billion rubles.

Nordea was Russia's 24th largest bank by assets, according to the Interfax-100 ranking at the end of Q1 2014.