Nordea Profits Better Than Expected

Nordea, the largest banking group in the Nordic region, has posted a better than expected net profit in its first quarter, falling just nine percent from the same period in 2008.

From January to March, the bank posted a net profit of 627 million euros compared to 687 million euros in the first quarter last year.    

Nordea says its outlook for 2009 remains unchanged and that its profits for the full year would be ”at approximately the same level as in 2008.”