NORDEA BANK NORGE GROUP Q1 2012

5/7/2012 8:44 AM EST

Nordea Bank Norge's net profit for Q1 2012 amounted 
to NOK 1,119 million (984 last quarter), an increase 
of 14% corresponding to a return on equity of 15.4% 
(11.6). Net interest income increased by 4% to NOK 
2,305 million (2,207) and net fee and commission 
income went up 6% to NOK 574 million (540). Total 
operating income in Q1 2012 amounted to NOK 3,041 
million (2,935), and operating expenses ended at NOK 
1,295 million (1,183). Adjusted for a one-off 
positive effect on pensions last quarter, operating 
expenses increased 4% compared to last quarter. Net 
loan losses amounted to NOK 176 million (434) and net 
profit before taxes ended at 1,570 million, up 19% 
from 1,318 million last quarter.

Net loans to the public increased to NOK 467 billion 
(464) and deposits from the public went up to NOK 229 
billion (223). Total assets amounted to NOK 584 
billion (589) at the end of the quarter. Excluding 
transition rules, the total capital ratio was 13.5% 
(13.4) and core Tier 1 capital ratio amounted to 
10.2% (10.1).
 
Contact person:
Rune Kibsgaard Sjøhelle 
Head of External Communications
tel. +47 40 200 210

Nordea Bank Norge ASA
7 May 2012