Interim Report First Quarter 2007

Organic growth strategy continues to pay off
* Operating profit EUR 895m, up 6% excl. contribution from
  International Moscow Bank (IMB) last year (EUR 853m in the first
  quarter 2006)
* Net profit EUR 701m, up 7% excl. IMB (EUR 665m)
* Income EUR 1,873m, up 8% excl. IMB (EUR 1,754m)
* Costs up 6% - including investments in future growth
* Cost/income ratio 53%
* Positive net loan losses of EUR 13m (EUR 31m)
    - 12th consecutive quarter with net recoveries
* Earnings per share EUR 0.27 (EUR 0.26)
* Return on equity 18% (20%)
* Risk-adjusted profit up 11%


Strong performance in strategic growth areas
* Total lending up 17%
* Mortgage lending up 14%
* SME lending up 14%
* Consumer lending up 16% - non-collateralised consumer lending up
  22%
* Number of credit cards increased by 22%
* Strong asset growth in Private Banking
* Increased cross-selling of Markets' products to SMEs
* Strong increase in capital markets transactions with large
  corporates"Our reinforced organic growth strategy gives us continued strong
momentum in our business development in all business areas. While
investing in future growth we are on track towards delivering on the
ambitious financial targets we set out in December last year. The
organisational changes announced last week and the ongoing
implementation of our integrated operating model will support our
organic growth strategy by improving the quality of our customer
relations and increase time spent with customers while reducing
time-to-market of our product and services. With the aim of improving
our customers' experiences of doing business with us and to meet our
high ambitions, we will continue to increase customer focus, people
orientation and teamwork in Nordea" says Christian Clausen, President
and Group CEO of Nordea.

For further information:

Christian Clausen, President and     +46 8 614 7804
Group CEO
Arne Liljedahl, Group CFO/EVP        +46 8 614 7996
Johan Ekwall, Head of Investor       +46 8 614 7852 (or +46 70 607 92
Relations                                           69)
Boo Ehlin, Chief Communication       +46 8 614 8464 (or +46 70 264 71
Officer, Sweden                                     65)


The complete report including tables can be downloaded from the
attached link. The report is also available on the Internet at
www.nordea.com.