January 30, 2013 / 6:16 AM / in 5 years

Nordea Q4 profit beats forecast, to keep costs steady

STOCKHOLM, Jan 30 (Reuters) - Nordea, the Nordic region’s biggest bank by value, posted better-than-expected fourth-quarter operating profits on Wednesday and said it would aim to have flat costs.

Operating profit for the period was 1.1 billion euros, beating a mean forecast for 985 million seen in a Reuters poll and compared with a year-ago 1.0 billion.

The group said it would aim to reach a return on capital of 15 percent and keep its core tier one ratio above 13 percent. It would also seek to increase cost efficiency by 3 percent so that its costs were overall flat in the future. (Reporting by Mia Shanley, editing by Patrick Lannin)

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