Nordea builds loan-loss provisions following ECB scrutiny

- Louie Woodall
- 24 Oct 2019

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Finland-based lender Nordea took €229 million ($254 million) out of third-quarter earnings to buttress its loan-loss provisions following a health check by the European Central Bank.

The firm posted net loan losses of €331 million for Q3, up from €61 million in Q2 and €44 million the year-ago quarter. The bulk of this reflected an increase to loan-loss provisions after discussions with the ECB on the outcome of its asset quality review (AQR).

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