July 11, 2014 10:53 PM ET

Banks

Company Overview of Nordea Bank Norge ASA

Company Overview

Nordea Bank Norge ASA, together with its subsidiaries, engages in the provision of banking products and services in Norway. The company offers salary/transaction accounts, debit/credit cards, and Netbank; savings and investment products, including savings account/funds and pension; loans and credit, such as mortgage, car/boat loans, and consumer credit/overdraft facility on salary account; and personal and non-life insurances. It also provides leasing, car financing, factoring, and consumer credits. The company is based in Oslo, Norway. Nordea Bank Norge ASA operates as a subsidiary of Nordea Bank AB (publ).

Middelthuns gate 17

PO Box 1166

Sentrum

Oslo,  0107

Norway

Founded in 2001

2,867 Employees

Phone:

47 22 48 50 00

Fax:

47 22 48 61 97

Key Executives for Nordea Bank Norge ASA

Chief Executive Officer
Age: 59
Chief Executive Officer of Nordea Group and President of Nordea Group
Age: 59
Vice President of Group HR and Head of HR in Retail Banking
Age: 64
Executive Vice President
Executive Vice President
Compensation as of Fiscal Year 2014.

Nordea Bank Norge ASA Key Developments

Nordea Bank Norge ASA Reports Consolidated and Parent Earnings Results for the First Quarter Ended March 31, 2014

Nordea Bank Norge ASA reported consolidated and parent earnings results for the first quarter ended March 31, 2014. For the quarter, on consolidated basis, the company's interest income was NOK 4,908 million compared to NOK 4,718 million a year ago. Net interest income was NOK 2,443 million compared to NOK 2,200 million a year ago. Operating profit was NOK 1,561 million compared to NOK 1,414 million a year ago. Net profit was NOK 1,122 million compared to NOK 1,022 million a year ago. Basic/diluted earnings per share was NOK 2.03 compared to NOK 1.85 a year ago. Cash flow from operating activities was NOK 9,504 million compared to cash flows used in operating activities of NOK 1,923 million a year ago. Purchase of property and equipment was NOK 121 million compared to NOK 1 million a year ago. Purchase of intangible assets was NOK 5 million compared to NOK 1 million a year ago. Return on equity was 109% compared to 11.2% a year ago. For the quarter, on parent basis, the company's interest income was NOK 3,780 million compared to NOK 3,735 million a year ago. Net interest income was NOK 1,719 million compared to NOK 1,630 million a year ago. Operating profit was NOK 929 million compared to NOK 885 million a year ago. Net profit was NOK 668 million compared to NOK 641 million a year ago.

Nordea Bank Norge ASA Reports Audited Group and Parent Earnings Results for the Full Year Ended December 31, 2013

Nordea Bank Norge ASA reported audited group and parent earnings results for the full year ended December 31, 2013. For the quarter, on group basis, the company reported interest income of NOK 19,375 million compared to NOK 20,072 million a year ago. Net interest income was NOK 9,391 million compared to NOK 8,896 million a year ago. Total operating income was NOK 12,685 million compared to NOK 12,083 million a year ago. Operating profit was NOK 6,559 million compared to NOK 6,136 million a year ago. Net profit attributable to shareholders of the company was NOK 4,701 million or NOK 8.53 basic and diluted per share compared to NOK 4,440 million or NOK 8.05 basic and diluted per share a year ago. Cash outflow from operating activities was NOK 7,048 million compared to NOK 279 million a year ago. Acquisition of property and equipment was NOK 154 million compared to NOK 79 million a year ago. Acquisition of intangible assets was NOK 31 million compared to NOK 74 million a year ago. Return on equity was 12.3% against 14.5% for the same period a year ago. For the quarter, on parent basis, the company reported interest income of NOK 15,115 million compared to NOK 16,573 million a year ago. Net interest income was NOK 6,738 million compared to NOK 7,134 million a year ago. Total operating income was NOK 9,773 million compared to NOK 10,409 million a year ago. Operating profit was NOK 3,954 million compared to NOK 4,816 million a year ago. Net profit attributable to shareholders of the company was NOK 2,774 million or NOK 5.03 basic and diluted per share compared to NOK 3,459 million or NOK 6.27 basic and diluted per share a year ago. Cash outflow from operating activities was NOK 17,116 million compared to cash inflow from operating activities of NOK 1,988 million a year ago. Acquisition of property and equipment was NOK 154 million compared to NOK 79 million a year ago. Acquisition of intangible assets was NOK 22 million compared to NOK 69 million a year ago.

Nordea Bank Norge ASA, Annual General Meeting, Mar 24, 2014

Nordea Bank Norge ASA, Annual General Meeting, Mar 24, 2014.

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