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Nordea Bank reported a net profit of 1.13 billion euros for the fourth quarter, slightly up from the previous year, despite a 4.7% decline in net interest income. The bank is in discussions for a new share buyback program after completing its current one by February 28, aiming for a return on equity above 15% by 2025. A full-year dividend of 0.94 euros has been proposed, reflecting a modest increase from 2023.
Finland's Nordea Bank reported fourth-quarter operating earnings that slightly exceeded analysts' expectations. The results reflect the bank's resilience in a challenging economic environment, showcasing its ability to maintain profitability.
Nordea Bank Abp reported growth in FY24, with attributable net profit and operating income reflecting its diverse banking services. The income distribution highlights personal banking at 38.9%, business banking at 29.2%, institutional and large corporate banking at 20.2%, and assets and wealth management at 11.7%. Geographically, income is sourced from Finland (24.9%), Sweden (27.3%), Denmark (26.5%), Norway (17.5%), and other regions (3.8%).
Nordea Bank reported a fourth-quarter operating profit of EUR 1,467 million, slightly below expectations, with total income at EUR 2,955 million. The Board proposed an increased dividend of EUR 0.94 per share and anticipates a return on equity above 15% for 2025. Loan losses decreased to EUR 54 million, and the company plans to complete its share buyback program by February 28, 2025.
Nordea Bank reported a fourth-quarter operating profit of EUR 1,467 million, slightly below expectations, with total income at EUR 2,955 million. The bank proposed an increased ordinary dividend of EUR 0.94 per share, up from EUR 0.92, while loan losses decreased to EUR 54 million compared to EUR 83 million last year. Net interest income was EUR 1,854 million, and net trading income fell short of expectations at EUR 201 million.
Telefónica España has completed the removal of Huawei technology from its 5G core network by awarding the second phase of the replacement to Nokia, following a previous contract with Ericsson in 2021. This strategic shift aims to diversify suppliers and eliminate reliance on Chinese technology, marking a significant transition since Huawei was initially awarded the core network in 2019.
Deutsche Bank Aktiengesellschaft has received a "Moderate Buy" rating, but top analysts recommend five other stocks as better investment opportunities. Assenagon Asset Management increased its stake by 31.7%, while other institutional investors also adjusted their holdings. The stock is currently trading at $19.46, with a 12-month range of $12.43 to $19.65.
Global growth is moderate, with the US benefiting from the presidential election while Europe lags. In the Nordic region, strong private consumption is expected due to favorable job prospects and rising disposable income, despite challenges like low consumer confidence in Denmark and a weak economic cycle in Finland. Norway's economy is growing with low unemployment and wage growth outpacing inflation, while Sweden anticipates a recovery in domestic demand supported by lower interest rates.
Global growth is moderate, with the US benefiting from the presidential election while Europe lags. In the Nordic region, strong private consumption is expected due to favorable job prospects and falling interest rates, despite challenges in Denmark and Finland. Norway and Sweden are poised for recovery, supported by low inflation and increased purchasing power.
BNP Paribas Exane has raised its target price for Nordnet to SEK 195 from SEK 185, while maintaining an underperform rating. Nordnet AB, a Sweden-based company, provides a digital platform for savings and investments, catering to private savers in Sweden, Norway, Denmark, and Finland. The platform offers low-cost financial products and features a social investment network with over half a million members.
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