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# Nordea Posts Q3 2024 Operating Profit of €1.634 Billion, Weighed by US Regulatory Settlement
- URL: https://www.theglobalbanker.com/nordea-q3-2024-operating-profit-1634-million-us-regulatory-settlement/
- Published: 2024-10-17T11:44:00.000Z
- Updated: 2026-10-02T13:34:40.000Z
- Description: Nordea reported Q3 2024 operating profit of €1.634 billion, down 5% year-on-year, after absorbing a €32 million charge from a settlement of a US regulatory investigation.
- Author: TGB Editorial Team
- Tags: Banking News, Europe, #archive

Nordea reported third-quarter 2024 operating profit of €1.634 billion on 17 October, a decline of 5% compared with the same period a year earlier. The result was shaped in part by a €32 million charge related to the settlement of a United States regulatory investigation.

Total income for the quarter reached €3.014 billion, up 2% year-on-year. Net fee income rose 4% over the period.

#### PROFITABILITY AND CAPITAL

Nordea's return on equity stood at 16.7% for the quarter (17.1% excluding the US settlement). The 5% decline in operating profit reflected both the one-off regulatory charge and a 9% rise in underlying costs driven by investment in growth, technology and risk management.

The bank's Common Equity Tier 1 ratio was 15.8%, 2.3 percentage points above its requirement (down from 17.5% after new retail capital models were implemented), and Nordea said it would resume share buy-backs with a new EUR 250m programme. 

#### OUTLOOK

Nordea upgraded its outlook for 2024 to a return on equity above 16%.