July 20, 2017 / 5:17 AM / a year ago

Nordea Q2 profit lags forecast, no decision on HQ move

STOCKHOLM, July 20 (Reuters) - Nordea, the Nordic region’s biggest bank by market value, reported second-quarter operating earnings below analyst forecasts on Thursday and said it would make a final decision on a potential move of its headquarter in September.

Operating profit for the period was 1.01 billion euros ($1.16 billion) compared with a mean forecast of 1.07 billion seen in a Reuters poll of analysts and a year-ago 1.22 billion.

Nordea said earlier this year it could move its headquarter from Sweden to Denmark or Finland because of high regulatory fees.

“As new initiatives have surfaced in Scandinavia about exploring to join the banking union, we would like to process this information before making a final decision in September,” CEO Casper von Koskull said in the report. ($1 = 0.8687 euros) (Reporting by Johan Ahlander; editing Johannes Hellstrom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below