Nordea Bank Q1 net interest income increased 11% to €1.95bn, driven by higher lending revenues and lower funding costs.

Nordea Bank, the largest Nordic lender, reported a 11% increase in Q1 net interest income to €1.95bn ($2.1bn), beating expectations. This rise is due to higher lending revenues and lower funding costs. CEO Frank Vang-Jensen said the bank maintained solid business momentum despite the subdued economic environment. Net profit attributable to shareholders was €1.36bn ($1.45bn), up from €1.15bn in Q1 2023.