Nordea Bank’s net profit drops 11.31%

The net profit of OAO Nordea Bank went down by 11.31%, or 138.681 million RUR in the first quarter of 2010; the figures decreased from 1,226,101,000 RUR in the fourth quarter of 2009 to 1,087,420,000 RUR in the first quarter of 2010.

The bank explains the decrease in the net profit has to do with the growing security and foreign currency transactions expenses; this kind of spending went up because of the changing exchange rates.