Nordea Bank strong after report

Several investors deduced from Nordea’s (OMX: NDA, OMXH: NDA1V) major gaffe and the subsequent wording of the portion of the profit that Norwegian operations represented yesterday, that the group’s quarterly result was going to be pretty good. This was indeed the case and those savvy investors are now able to book a nice gain. Both total income and net interest income of the Swedish behemoth grew 3% sequentially and in double-digits year-on-year to 2.6 and 1.46 billion Euros. Core tier 1 capital ratio (Basel 2) is now 11.8% and including transitional rules (Basel 3) at 11% sharp. Operating profit came in at 1.1 billion and diluted quarterly EPS grew to 0.21 Euros