Sweden’s Nordea has posted a first quarter income of €76 million ($101.2 million) from its Nordic Private Banking division, up slightly from €75 million for the quarter before. First quarter income from Nordea’s International Private Banking division was €20 million, down from €22 million in the previous quarter.

Nordea’s assets under management within Nordic Private Banking were reported as €35.8 billion for the first quarter of 2009, compared to €36.1 billion for the previous quarter and €41.9 billion for the first quarter of 2008.

Within International Private Banking, Nordea said its assets under management were €7 billion at 31 March, up from €6.8 billion in the quarter before, but dropping from €8.9 for Q1 2008.

Overall, Nordea reported a total income of €2.279 billion for the first three months of this year, up 5 per cent (excluding non-recurring items) from the previous quarter, and up 16 per cent from 2008’s first quarter.

Nordea’s group operating profit was €833 million for the first quarter of 2009, up 20 per cent from €696 million in the final quarter of 2008.