The attempted murder of the Republican presidential candidate Donald Trump can create waves on the financial market. This is stated by the Nordea CEO in connection with Monday's quarterly report.
In the short term, I believe it will be a nervous and quite volatile market, says CEO Frank Vang-Jensen.
In the slightly longer term, it is difficult to speculate about the impact of the weekend's events in the USA and its aftermath on the world's financial markets.
But it is clear, the financial market does not like uncertainty and what happened over the weekend is not good when we talk about uncertainty, so we'll see, says the Nordea CEO.
The uncertainty that exists due to the geopolitical situation in the world will remain, we will have to live with it for a pretty long time, I believe, he adds.
"Satisfied"
The Helsinki-based major bank reports an operating profit before credit losses of 1,752 million euros for the second quarter of the year, compared to 1,750 million euros during the same quarter a year earlier.
The net interest income, what the bank earns on the difference between lending and borrowing rates, increased by 4 percent to 1,904 million euros. The so-called provision net also increased, up by 6 percent to 795 million euros.
It was another strong quarter for Nordea. We continue to deliver industry-leading returns, we are satisfied with the quarter, says Vang-Jensen further.
Uncertain about mortgage rates
In Sweden, inflation continues to fall, and more than expected after Statistics Sweden presented figures for June last week. Now, borrowers are hoping for lower mortgage rates this autumn if the repo rate continues to fall.
The Swedish Central Bank, led by Erik Thedéen, has signaled that two or three rate cuts may be possible.
But how much the mortgage rates at Nordea will be affected cannot be said at present, according to CEO Frank Vang-Jensen.
When interest rates go down in society, they will also go down at the banks. We'll see exactly how it turns out when we see the changes, he says.
