Fee takings fell 5.5 percent to 518 million euros. Loan.

July 22 (Bloomberg) -- , the biggest Nordic lender by call value, said second-quarter gain declined 15 percent after cost return level and costs increased. The bank lowered its profit-growth prognosis for the smack year. dropped to 692 million euros ($1.1 billion) from 816 million euros a year earlier, the Stockholm-based bank said today in a statement.

That almost met the middling 694 million- euro consider of nine analysts surveyed by Bloomberg. Costs rose 6.4 percent to 1.07 billion euros on extension in Poland and Sweden. Fee revenue kill 5.5 percent to 518 million euros.

Nordea has so far managed to plot the worst of the banking calamity that has led to $435 billion of writedowns at the world's largest economic institutions. The bank generates most of its proceeds from retail banking in the Nordic bailiwick and has few risks tied to capital-market activities. Costs at the bank are rising centre of an dilatation program, the lender has said. ''We accept by our long-term monetary targets although increasing macroeconomic uncertainty and erratic pecuniary markets put some constrain on the short-term situation of risk- adjusted profit,'' Nordea Chief Executive Officer said in the statement. Nordea shares dropped 2.7 percent to 86.7 kronor as of 9:45 a.m. in Stockholm trading, the steepest decrease for a week.

The bank is down 20 percent this year. Revised Forecast The bank aims to twin its suspect risk-adjusted profit, or operating value excluding one-time items and including allowance losses and taxes, by 2013. The throng has said it needs customary annual advancement of 10 percent to reach that.

Nordea today revised its calculate for risk-adjusted make a killing enlargement for 2008 to 5 percent, from a early believe of between 5 and 10 percent. Loan losses were 36 million euros. ''The full-year advance auspices is degree more discreet than before, but this should not be a chief surprise, and the credit losses were as expected,'' said , an analyst at Evli Bank, who has a ''reduce'' rating on Nordea. ''Nordea has a less defensive work design and shows the strengths of being a big bank across the Nordic region.'' Nordea has more than 1,100 branches, 29,000 employees and 10 million clients and in the Nordic countries, Russia, Poland and the Baltic states of Estonia, Latvia and Lithuania.

Nordea said in April it plans to occupy an additional 3,000 kin this year. To telephone the pressman on this story: in Stockholm at.

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