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Nordea bank records 5m euro profit in 2013

Jan 29, 2014
From wire reports, RIGA

Nordea bank in Latvia has recorded 5.3 million euros in profit during 2013 The figure amounts to 74 percent less than in 2012, according to the bank's statement.

Nordea income totaled 65 million euros in Latvia in 2013, 3 percent more than in 2012. The bank's expenses reached 31.6 euros million, a 14 percent increase.

Nordea profit before provisions for bad loans was 33.4 million euros, provisions for bad loans amounted to 28 million euros, an 83 percent increase.

The amount of deposits at Nordea reached a record-high figure - 1.33 billion euros, a 15 percent increase. The bank's loan portfolio reached 2.57 billion euros at the end of 2013, 5 percent less than at the end of 2012.

The bank issued 300 million euros in new loans in 2013, 9 percent more than in 2012. The bank's risk-weighted assets amounted to 1.826 million euros.

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