Nordea builds loan-loss provisions following ECB scrutiny
Net loan losses jump to €331 million in Q3
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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