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Nordea Profit Beats Estimates as Lending Growth Continues

  • Bank confirms guidance as income from lending increases
  • Fees and commissions decline in turbulent quarter for markets
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Nordea Bank Abp’s profit beat estimates in a turbulent second quarter for financial markets, as demand for loans and rising interest rates herald higher income from lending for the biggest Nordic bank.

Second-quarter net income rose 2.8% from a year earlier, to 1.05 billion euros ($1.1 billion), according to a statement Monday. Analysts polled by Bloomberg had expected 929 million euros. The bank reported continued growth in lending volumes led by the corporate sector.