As the bank reports its third-quarter results, CEO Frank Vang-Jensen comments on rising interest rates. The bank believes they could affect households:
"Geopolitical uncertainty and volatility remain high... At the same time, we are mindful of the recent sharp rise in forward rates and the possibility that higher interest rates could affect consumer confidence in the coming months," the CEO says in the report.
The company's quarterly results were also in line with market expectations. Nordea made an operating profit of just over SEK 17 billion (about $1.6 billion) in the third quarter, while net interest income - the difference between the bank's interest income and interest expenses - increased by 1 percent.