Nordea Bank Posts Downbeat Q3 Profit

Nordea Bank AB

posted a rise in its third-quarter net profit. Nordea Bank's quarterly net profit surged to 686 million euros ($890 million), from EUR404 million, in the year-ago period. However, analysts were expecting a net profit of EUR756 million. The banks's net interest income climbed to EUR1.44 billion from EUR1.38 billion, while loan losses widened to EUR254 million from EUR112 million. Nordea Bank shares closed at $9.24 yesterday.