Private banking in its core Nordic market drove net inflows of €1.8bn ($2.3bn) at Nordea's funds and life division in the third quarter, with income up 8% on the same period last year.

Institutional asset management also delivered strong inflows of €1.1bn on total assets of €25bn. The bank said the inflows were "primarily based on new mandates while the outflow from existing mandates has been limited".