(RTTNews) – Nordea Bank Abp (NRDEF.PK) reported that its first quarter operating profit increased to 1.05 billion euros from 599 million euros, prior year. Earnings per share was 0.19 euros compared to 0.11 euros.

First quarter net interest income increased to 1.21 billion euros from 1.11 billion euros, prior year. Net fee and commission income increased to 827 million euros from 765 million euros. Total operating income was 2.42 billion euros, up 21 percent.

“Our operating profit increased by 75%, year on year, mainly driven by a 21% increase in total operating income. Net interest income grew by 9%, which is the highest growth rate in ten years. Net fee and commission income grew by 8% and was at its highest level since 2017,” Frank Vang-Jensen, CEO, said.

The Group stated that it is well on track to meet its financial targets for 2022.

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