Nordea profit tops forecasts

City A.M. Reporter
NORDIC banking group Nordea, the region’s biggest bank, posted second-quarter operating profits above expectations yesterday but said slower economic growth in the region due to Europe’s debt crisis was affecting business.

Operating earnings in the second quarter were €1.1bn, compared with the €949m reported in the same period a year ago.

Swedish banking group Swedbank also posted a second-quarter operating profit that marginally beat forecasts earlier in the day.