February 28, 2015 10:41 PM ET

Banks

Company Overview of Nordea Bank Norge ASA

Company Overview

Nordea Bank Norge ASA, together with its subsidiaries, provides banking products and services to household customers, corporate customers, and institutional and public companies in Norway. The company offers loans, deposits, cards, pension accounts, and insurance products; and capital markets products, including financial instruments, or arrangement for a financial instrument, that are available in the financial marketplace, including currencies, commodities, stocks, bonds, and existing arrangements. It also provides cash management; trade and project finance; leasing, hire purchase, and factoring; asset management; discretionary management; and netbank services. In addition, the company is ...

Middelthunsgt. 17

PO Box 1166

Sentrum

Oslo,  0107

Norway

2,703 Employees

Phone:

47 22 48 50 00

Fax:

47 22 48 47 09

Key Executives for Nordea Bank Norge ASA

Chief Executive Officer
Age: 59
Chief Executive Officer of Nordea Group and President of Nordea Group
Age: 59
Vice President of Group HR and Head of HR in Retail Banking
Age: 64
Executive Vice President
Executive Vice President
Compensation as of Fiscal Year 2014.

Nordea Bank Norge ASA Key Developments

Nordea Bank Norge Reports Consolidated Earnings for the Fourth Quarter and Full Year of 2014 and Parent Earnings Results for the Full Year 2014

Nordea Bank Norge reported consolidated earnings for the fourth quarter and full year of 2014 and parent earnings results for the full year 2014. For the period, on consolidated basis, the company reported total operating income was NOK 13,173 million against NOK 12,685 million a year ago. Operating profit was NOK 6,854 million against NOK 6,559 million a year ago. Net profit was NOK 4,963 million against NOK 4,701 million a year ago. Earnings per share was NOK 9 against NOK 8.5 per share a year ago. Return on equity was 11.6% against 12.3% a year ago. Return on assets was 0.8% against 0.8% a year ago. The increase of 4% in total operation income, mainly driven by strong net interest income and greater results from net fee and commission income. Net interest income was NOK 9,808 million against NOK 9,391 million a year ago. Net fee and commission income was NOK 2,668 million against NOK 2,440 million a year ago. Profit before loan losses was NOK 7,675 million against NOK 7,960 million a year ago. Cash flow from operating activities was NOK 5,434 million against cash flow used in operating activities of NOK 7,048 million a year ago. Acquisition of property and equipment was NOK 679 million against NOK 154 million a year ago. For the quarter on consolidated basis, the company reported net interest income of NOK 2,471 million against NOK 2,478 million a year ago. Total operating income was NOK 3,451 million against NOK 3,358 million a year ago. Profit before loan losses was NOK 2,120 million against NOK 2,238 million a year ago. Operating profit was NOK 2,066 million against NOK 1,915 million a year ago. Net profit was NOK 1,462 million against NOK 1,360 million a year ago. Earnings per share was NOK 9 against NOK 8.5 per share a year ago. For the period, on parent basis, the company reported the net profit to NOK 3,762 million, up 36% from NOK 2,774 million last year. Net interest income was NOK 7,089 million against NOK 6,738 million a year ago. Net fee and commission income was NOK 2,507 million against NOK 2,269 million a year ago. Profit before loan losses was NOK 5,908 million against NOK 5,294 million a year ago. Total operating income was NOK 11,119 million against NOK 9,773 million a year ago. Operating profit was NOK 5,148 million against NOK 3,954 million a year ago. Net profit was NOK 3,762 million against NOK 2,774 million a year ago. Earnings per share was NOK 6.82 against NOK 5.03 per share a year ago. Cash flow from operating activities was NOK 5,933 million against cash flow used in operating activities of NOK 17,116 million a year ago. Acquisition of property and equipment was NOK 270 million against NOK 154 million a year ago.

Nordea Bank Norge ASA Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Nordea Bank Norge ASA announced consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net interest income of NOK 2,468 million against NOK 2,396 million a year ago. Total operating income was NOK 3,326 million against NOK 3,171 million a year ago. Operating profit was NOK 1,823 million against NOK 1,518 million a year ago. Net profit was NOK 1,352 million or NOK 2.5 per basic and diluted share against NOK 1,090 million or NOK 2.0 per basic and diluted share a year ago. Return on equity was 12.5% against 11.3% a year ago. For the nine months, the company reported net interest income of NOK 7,337 million against NOK 6,913 million a year ago. Total operating income was NOK 9,722 million against NOK 9,327 million a year ago. Operating profit was NOK 4,788 million against NOK 4,644 million a year ago. Net profit was NOK 3,501 million or NOK 6.3 per basic and diluted share against NOK 3,341 million or NOK 6.1 per basic and diluted share a year ago. Return on equity was 11.0% against 11.9% a year ago. Cash flow used from operating activities was NOK 4,607 million against cash flow from operating activities of NOK 3,206 million a year ago. Acquisition of property and equipment was NOK 38 million against NOK 57 million a year ago. Acquisition of intangible assets was NOK 23 million against NOK 63 million a year ago.

Nordea Bank Norge ASA Reports Consolidated and Parent Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Nordea Bank Norge ASA reported consolidated and parent earnings results for the second quarter and six months ended June 30, 2014. For the quarter, on consolidated basis, the company reported net interest income of NOK 2,426 million compared with NOK 2,317 million for the same period last year. Total operating income was NOK 3,196 million compared with NOK 3,175 million for the same period last year. Operating profit was NOK 1,404 million compared with NOK 1,712 million for the same period last year. Net profit for the period was NOK 1,027 million or NOK 1.86 basic and diluted per share compared with NOK 1,229 million or NOK 2.23 basic and diluted per share for the same period last year. Return on equity was 9.7% compared with 13.1% for the same period last year. Profit before loan losses was NOK 1,669 million against NOK 1,980 million a year ago. For the six months, the company reported net interest income of NOK 4,869 million compared with NOK 4,517 million for the same period last year. The rise has been driven by higher deposit and lending volumes along with higher lending margins. Total operating income was NOK 6,396 million compared with NOK 6,156 million for the same period last year. Operating profit was NOK 2,965 million compared with NOK 3,126 million for the same period last year. Net profit for the period was NOK 2,149 million or NOK 3.90 basic and diluted per share compared with NOK 2,251 million or NOK 4.08 basic and diluted per share for the same period last year. Profit before loan losses was NOK 3,608 million against NOK 3,765 million a year ago. Return on equity was 10.3% compared with 12.2% for the same period last year. Cash flow from operating activities was NOK 15,497 million compared with NOK 3,255 million for the same period last year. Property and equipment was NOK 314 million. Intangible assets was NOK 12 million. For the quarter, on parent basis, the company reported net interest income of NOK 1,740 million compared with NOK 1,680 million for the same period last year. Total operating income was NOK 3,200 million compared with NOK 2,507 million for the same period last year. Operating profit was NOK 1,500 million compared with NOK 1,109 million for the same period last year. Net profit for the period was NOK 1,099 million compared with NOK 788 million for the same period last year. For the six months, on parent basis, the company reported net interest income of NOK 3,459 million compared with NOK 3,310 million for the same period last year. Total operating income was NOK 5,673 million compared with NOK 4,882 million for the same period last year. Operating profit was NOK 2,429 million compared with NOK 1,994 million for the same period last year. Net profit for the period was NOK 1,767 million compared with NOK 1,439 million for the same period last year.

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