OREANDA-NEWS. July 26, 2013. CEO Christian Clausen’s comments on the results:

“In the uncertain macroeconomic environment, we continue to deliver on our plan on income initiatives, cost efficiency and improved capital position. In the second quarter, 23,000 new relationship customers were welcomed to Nordea and we have reinforced our position as the leading corporate bank in the Nordics and Baltics.

The recently published Prospera survey shows that large companies in the Nordics rank us the best bank in the Nordics, which was confirmed by the Euromoney awards “Best Bank” and “Best Investment Bank” in the Nordics and Baltics.

Total expenses have been unchanged for 11 consecutive quarters. Core tier one capital ratio improved to 14.0% and the pro forma Basel III core tier 1 capital ratio is at least 14.0%.

We see a continued stabilisation of our credit quality. Loan losses declined to 22 basis points in the second quarter 2013. Loan losses in Denmark and shipping declined.”

Half year 2013 vs. Half year 2012 (Second quarter 2013 vs. First quarter 2013):

Total operating income unchanged (down 1%)

Operating profit unchanged (up 1%)

Core tier 1 capital ratio up to 14.0% from 11.8% (up from 13.2%)

Cost/income ratio up to 51% (down to 50%)

Loan loss ratio of 23 basis points, down from 24 basis points (down to 22 basis points)

Return on equity 11.3%, down from 12.1% (up to 11.5% from 11.1%).