EE: DnB Nord records net profit of EUR 1.3mn in Estonia in Q1.

By bne IntelliNews May 10, 2011
Estonian branch of DnB Nord bank recorded net profit of EUR 1.3mn in Q1. Operating profit amounted to EUR 1.2mn in Q1, which indicates doubling y/y. Revenues of the bank amounted to EUR 2.2mn in Q1, an increase of 32% y/y. Hans Pajoma, manager of the bank, said that the improvement was due to operational efficiency increase and better economic environment. The Baltic States and Polish branch DnB Nord Group recorded net profit of EUR 3.3mn in Q1. CEO of the branch Rune Bjerke, said that the bad loans declined by EUR 23mn y/y in Q1.
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