Nordea de-risking improves loan-loss ratio

Provisions down €73 million year-on-year

Nordea strengthened its credit quality to the highest levels since 2007 in the first three months of 2018.

The Scandinavian bank’s loan-loss ratio was 7 basis points in the first quarter, down from 9bp the previous quarter and 14bp at end-March 2017. Provisions stood at €40 million, down from €71 million and €113 million in the fourth and first quarters of 2017, respectively.

The cut in provisions was helped along by the bank’s switch to IFRS 9’s expected credit loss (ECL) accounting

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