Nordea: Swedish Real Estate Market Has Stabilised, Don't Expect Further Downward Correction as Demand Holding Up

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24 October 2018

Nordea: Swedish Real Estate Market Has Stabilised, Don't Expect Further Downward Correction as Demand Holding Up

Nordea 3Q Net Interest Income EUR1.07B
3Q Revenues Were Disappointing and Characterised by Seasonality
3Q Net Pft EUR684M
Expect to Reach Cost Base Below EUR4.8B in 2018, To Be Further Reduced in Local Currencies in 2019
Growing Lending Volumes Improved Net Interest Income But Was Offset by Margin Pressure
Low Activity Impacted Ancillary Income, Low Spreads, Interest Rates and Volatility Hit Capital Markets Income

Futures: DAX + 0.8% FTSE + 0.5% CAC 40 + 1.1%

Fed's Bostic Sees Growth, Need for 'Gradual' Rate Rises

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