Nordic shipping lender Nordea has logged higher loan losses in the second quarter.
The figure to 30 June rose to €61m from €59m a year ago.
It blamed a "few significant provisions", but said these were partly offset by some positive migration in shipping, oil and offshore.
Net interest income fell to €1.07bn from €1.11bn, while net profit dropped to €681m, versus €1.11bn in 2018.
CEO Casper von Koskull, who is retiring at the end of 2020, called the results unsatisfactory.
The loan loss ratio increased by three basis points (bps) to 10 bps from the first quarter, he added.
"We did not have the same level of reversals in this quarter," the CEO said.
"We reiterate the guidance that credit quality will be largely unchanged in the coming quarters."
Risk exposure was up at €160bn, against €123bn in 2018.
Losses for impaired loans in Stage 3 were €72m.
"Our expectation for the coming quarters is that net losses will remain low and around the average level for 2018," the bank said.
"The equity market continued to be supportive of new issuance and Nordea participated in several primary equity transactions in both the corporate and the shipping sector," it added.
