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Posted by
Two Blokes Jul 22 -
Filed in
Stock
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8 views
Nordea's Q2 results largely came in as expected. Credit drove a small beat on the bottom line, though the bank's main pre-provision lines were all within 1-2% of consensus. While the above means that earnings are down relative to cycle-high 2023 and 2024 levels, this was always expected. More importantly, a lower ROE would still leave the shares at less than 10x earnings, while capital generation also remains strong enough to support an attractive shareholder yield.
