NORDEA BANK NORGE GROUP Q3 2011

11/2/2011 8:51 AM EST

Nordea Bank Norge's net profit for Q3 2011 ended at 
NOK 796 million (927 in the second quarter 2011), 
corresponding to a return on equity of 11.0% (13.2). 
Excluding restructuring costs of NOK 295 million from 
the implementation of the earlier announced New 
Normal plan, net profit increased 9% compared to the 
previous quarter, corresponding to a return on equity 
of 13.8%. Total income increased 4% compared to the 
previous quarter to NOK 2,890 million (2,777). Total 
expenses were stable compared to the previous 
quarter, excluding restructuring costs, and ended at 
NOK 1,276 million (1,260). Operating profit was up 
10% to NOK 1,393 million (1,270) from the previous 
quarter, excluding restructuring costs. Net loan 
losses were NOK 221 million in the third quarter, 
a reduction of 11% compared to the second quarter 
(247). 

Net loans to the public ended at NOK 456 billion, up 
2% the last three months. Deposits from the public 
ended at NOK 225 billion (228) and total assets 
amounted to NOK 552 billion at the end of the quarter 
(520). The total capital ratio was 12.6% and Tier 1 
capital ratio amounted to 9.9%, excluding transition 
rules and the result for the first nine months of 
2011. 

Contact person: 
Rune Kibsgaard Sjøhelle
Head of External Communications
tel. +47 40 200 210

Nordea Bank Norge ASA
2 November 2011