Nordea Bank Abp
Nordea Bank Abp
04/27/2023 | Press release | Distributed by Public on 04/27/2023 01:25
Alternative performance measures Nordea group first quarter 2023
APM definitions
| Nordea Group |
| Business definitions |
| Nordea's alternative performance measures (APMs) are presented to provide users of Nordea's financial reporting with relevant information and tools to be able to establish a view on Nordea's performance. |
| Nordea believes that these APMs assist in providing additional useful information on the underlying trends, performance and position of Nordea Group. APMs are also used to enhance the comparability of information between reporting periods and geographical units, by adjusting for items affecting comparability which affect IFRS measures, to aid the user in understanding the Group's performance. Consequently, APMs are used for performance analysis, planning, reporting and incentive-setting purposes. |
| The development compared with earlier periods is, in order to better reflect the underlying business performance, generally presented in local currencies translated to EUR using plan exchange rates. |
| Share related APMs |
| APMs based on per share data is provided to portray Nordea's performance in relation to shareholder investments. |
| Weighted average number of diluted shares, million |
| Weighted average number of common shares outstanding plus the potential dilution that could occur if equity awards from our stock compensation plans were exercised and converted into common stock minus trading shares. |
| Basic earnings per share (EPS) |
| Net profit for the period divided by the weighted average number of outstanding shares, non-controlling interests and interest expense on Additional Tier 1 capital (discretionary interest accrued) excluded. |
| Diluted earnings per share (DEPS) |
| Net profit for the period divided by the weighted average number of outstanding shares after full dilution, non-controlling interests and interest expense on Additional Tier 1 capital (discretionary interest accrued) excluded. |
| Total shareholders return (TSR) |
| Growth in the value of a shareholding during the year, assuming the dividends are reinvested at the time of the payment to purchase additional shares. |
| Equity per share |
| Equity as shown on the balance sheet after full dilution and non-controlling interests excluded, divided by the number of shares after full dilution. |
| Performance related APMs |
| The return measures explains how well Nordea has managed the capital at its disposal and in relation to the risks accepted. The Net interest margin is a profitability ratio that measures the net return on Nordea's earning assets and cost-to-income ratio is a measure of the operational efficiency. |
| Items affecting comparability are, when applicable, excluded from some APMs because management and investors would ordinarily identify and consider them separately in order to better understand the underlying trends in a business. Nordea consider AMPs excluding items affecting comparability provide useful information for investors by aligning internal and external reporting, identifying and quantifying items management believe to be significant and providing insight into how management assesses year-on-year performance. |
| Return on equity (RoE) |
| Net profit for the period as a percentage of average equity for the period. Additional Tier 1 capital, accounted for in equity, is in the calculation considered as being classified as a financial liability. Net profit for the period excludes non-controlling interests and interest expense on Additional Tier 1 capital (discretionary interest accrued). Average equity includes net profit for the period and dividend until paid, and excludes non-controlling interests and Additional Tier 1 capital. |
| Return on tangible equity (RoTE) |
| Net profit for the period as a percentage of average equity for the period. Additional Tier 1 capital, accounted for in equity, is in the calculation considered as being classified as a financial liability. Net profit for the period excludes non-controlling interests and interest expense on Additional Tier 1 capital (discretionary interest accrued). Average equity includes net profit for the period and dividend until paid, and excludes non-controlling interests and Additional Tier 1 capital and is reduced with intangible assets. |
| Return on risk exposure amount |
| Net profit for the period as a percentage of average risk exposure amount for the period. Net profit for the period excludes non-controlling interests and interest expense on Additional Tier 1 capital (discretionary interest accrued). |
| Return on equity with amortised resolution fees |
| Net profit for the period as a percentage of average equity for the period. Additional Tier 1 capital, accounted for in equity, is in the calculation considered as being classified as a financial liability. Net profit for the period excludes non-controlling interests and interest expense on Additional Tier 1 capital (discretionary interest accrued) and is adjusted for the effect of resolution fees on an amortised basis after tax. Average equity includes net profit for the period and dividend until paid, and excludes non-controlling interests and Additional Tier 1 capital. |
| Net interest margin (NIM) |
| Net interest income for the period as a percentage of average interest-earning assets, excluding Life & Pension and Markets where return on assets is reported under Net result from items at fair value. |
| Total operating expenses excluding resolution fees. |
| Total operating expenses excluding resolution fees. |
| Cost-to-income ratio |
| Total operating expenses divided by total operating income. |
| Cost-to-income ratio with amortised resolution fees |
| Total operating expenses, adjusted for the effect of resolution fees on an amortised basis, divided by total operating income. |
| Cost-to-income ratio excluding regulatory fees |
| Total operating expenses, adjusted with the regulatory fees, divided by total operating income. |
| Items affecting comparability |
| Significant items that interfere with year-on year comparisons. |
| Return on capital at risk |
| Net profit for the period excluding items affecting comparability in percentage of economic capital. |
| Return on capital at risk with amortised resolution fees |
| Net profit for the period excluding items affecting comparability and adjusted for the effect of resolution fees on an amortised basis after tax, in percentage of economic capital. |
| Operating profit excluding items affecting comparability and adjusted for the effect of resolution fees on an amortised basis. |
| Customer driven net fair value |
| Summary of Net fair value in Corporate & Investment Banking, Banking Russa, Financial Institutions Group and International Banks. |
| Credit related APMs |
| The credit related APMs are used for evaluting the cost of credit risk and to what extent Nordea holds adequate provisions for the credit risks accepted. |
| Net loan loss ratio, amortised cost (IFRS 9) |
| Net loan losses (annualised) divided by quarterly closing balance of loans carrying amount to the public (lending) measured at amortised cost. |
| Net loan loss ratio, including loans held at fair value (IFRS 9) |
| Net result from loans in hold portfolios mandatorily held at fair value and Net loan losses (annualised) divided by quarterly closing balance of loans carrying amount to the public (lending) measured at amortised cost and loans in hold portfolios mandatorily held at fair value. |
| Impairment rate (stage 3), gross (IFRS 9) |
| Impaired loans (stage 3) before allowances divided by total loans measured at amortised cost before allowances. |
| Impairment rate (stage 3), gross, for loans measured at fair value |
| Impaired loans (stage 3) measured at fair value before allowances divided by total loans measured at fair value before allowances. |
| Impairment rate (stage 3), net (IFRS 9) |
| Impaired loans (stage 3) after allowances divided by total loans measured at amortised cost before allowances. |
| Total allowance rate (stages 1, 2 and 3) (IFRS 9) |
| Total allowances divided by total loans measured at amortised cost before allowances. |
| Allowances in relation to credit impaired loans (stage 3) (IFRS 9) |
| Allowances for impaired loans (stage 3) divided by impaired loans measured at amortised cost (stage 3) before allowances. |
| Allowance in relation to loans in stages 1 and 2 (IFRS 9) |
| Allowances for not impaired loans (stages 1 and 2) divided by not impaired loans measured at amortised cost (stages 1 and 2) before allowances. |
| Impairment rate for fair value |
| Impaired loans (stage 3) measured at fair value divided by total loans measured at fair value. |
| Past due loans (incl. impaired) to the public |
| Loans to the public (for corporates and households respectively) past due 6 days or more divided by loans the public (for corporates and households respectively) after allowances |
| Capital related APMs |
| The capital APMs explains how much capital Nordea holds to cover the risks in the business. Own Funds and Economic Capital indicates the total amount of capital, while the ratios sets the risks in relatation to the capital. Regulators have issued mininmum levels for some of these ratios. |
| Own funds |
| Own funds include the sum of the Tier 1 capital and the supplementary capital consisting of subordinated loans, after deduction of the carrying amount of the shares in wholly owned insurance companies and the potential deduciton for expected shortfall. |
| Tier 1 capital |
| The Tier 1 capital of an institution consists of the sum of the Common Equity Tier 1 capital and Additional Tier 1 capital of the institution. Common Equity Tier 1 capital includes consolidated shareholders' equity excluding investments in insurance companies, proposed dividend, deferred tax assets, intangible assets in the banking operations, the full expected shortfall deduction (the negative difference between expected losses and provisions) and finally other deductions such as cash flow hedges. |
| Tier 2 capital |
| Supplementary capital consisting of subordinated loans, after deduction of the carrying amount of the shares in wholly owned insurance companies and the potential deduciton for expected shortfall. |
| Common Equity Tier 1 (CET 1) capital ratio |
| Common equity tier 1 capital as a percentage of risk exposure amount. |
| Tier 1 capital ratio |
| Tier 1 capital as a percentage of risk exposure amount. Tier 1 capital consist of both CET 1 capital and Additional Tier 1 capital. |
| Total capital ratio |
| Total capital ratio is total own funds divided by total risk exposure amount. Total own funds is the sum of Tier 1 and Tier 2 capital. |
| Economic capital (EC) |
| Economic capital is Nordea's internal estimate of required capital and measures the capital required to cover unexpected losses in the course of its business with a certain probability. EC uses advanced internal models to provide a consistent measurement for credit risk, market risk, operational risk, business risk and life insurance risk arising from activities in Nordea's various business areas. The aggregation of risks across the group gives rise to diversification effects resulting from the differences in risk drivers and the improbability that unexpected losses occur simultaneously. |
| Risk exposure amount (REA) |
| Risk exposure amount is calculated in accordance with the requirements in the CRR. |
| CRR leverage ratio |
| The leverage ratio is a non-risk based measure expressed as a percentage of Tier 1 capital in relation to Total Exposure. The total exposure measure is the sum of the following exposures: (a) on-balance sheet exposures; (b) derivative exposures; (c) securities financing transaction (SFT) exposures; and (d) off-balance sheet (OBS) items. |
| Conglomerate capital base |
| The conglomerates capital base is the own funds for the financial conglomerate, i.e. Nordea banking group and Nordea Life & Pension group, calculated according to instructions from the Finnish FSA. |
| The minimum amount of the financial conglomerates capital base |
| The minimum amount of the financial conglomerates capital base is 8 percent of the risk exposure amount of the financial conglomerate, i.e. Nordea banking group and Nordea Life & Pension group. |
| Conglomerate's capital adequacy ratio (capital base/minimum amount of capital base) |
| The conglomerate's capital adequacy ratio is the conglomerates capital base divided by the minimum amount of the conglomerates capital base. The value shall at all times be larger than 1. |
| Liquidity related APMs |
| The liquidity APMs are measures of the liquidity risk in the Group and indicates Nordea's resistance in a liquidity crisis. |
| Liquidity coverage ratio (LCR) |
| The stock of high quality liquid assets (HQLA) relative to the estimated total net cash outflows over the next 30 days. |
| Net stable funding ratio (NSFR) |
| The proportion of available stable funding relative to the amount of required stable funding. |
| Other APMs |
| Asset under Management (AuM) |
| Asset under Management (AuM) includes customer assets from our Life business, Asset Management business and assets under advice from retail, institutional and private banking clients. |
| Income/AuM |
| Total income including allocations divided by end AuM (annualised and measured in basis points). |
| Value at Risk (VaR) |
| Nordea measures VaR using historical simulation (HS) and the so-called Expected Tail Loss (ETL) approach. Nordea's VaR measure is based on daily changes in market prices/rates and volatilities over the last 500 trading days (giving 499 daily changes), a holding period for the portfolio of ten days and a probability of 99%. It thus expresses the average loss that Nordea will suffer with the current portfolio over a ten-day horizon in 1% of the worst scenarios. VaR is calculated as the average of the six most adverse simulation results out of the last 500 trading days as an estimate of VaR. |
| Gross written premiums |
| Gross written premiums shall comprise all amounts due during the financial year in respect of insurance contracts, arising from gross business, regardless of the fact that such amounts may relate in whole or in part to a later financial year. It includes both direct and reinsurance business. |
| Business Area APMs |
| Return on Capital at Risk |
| Operating profit inkl standard tax in percentage of Economic Capital. |
| Ancillary income |
| Sum of net fee and commission income and net result from items at fair value. |
| Asset under Management net flow |
| Inflow of AuM products (customer investments) less outflow of AuM products (customer divestments). |
| Asset under Management, AM internal distribution channels |
| Net flow of AM products distributed by Personal Banking, Private Banking and Business Banking units. |
| Asset under Management, AM external distribution reach |
| Net flow of AuM distributed by Wholesale Distribution and Institutional Distribution sales channels. |
&"Nordea Sans Large,Regular"&K00-023APM Nordea Group Third Quarter 2019
&1#&"Calibri"&10&K000000Confidential &P (&N)
APM numbers
| Nordea Group | Q1 | Q4 | Change | Q1 | Change | Q3 | Q2 | Q1 | Q4 | Q3 | Q2 |
| Alternative Performance Measures | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | 2022 | 2022 | 2022 | 2021 | 2021 | 2021 |
| Share related APMs | |||||||||||
| Weighted average number of common shares outstanding, periodic, million | 3,631 | 3,689 | -2% | 3,917 | -7% | 3,733 | 3,802 | 3,917 | 3,997 | 4,050 | 4,050 |
| Deduct trading shares, average periodic, million | 12 | 18 | 26 | 14 | 12 | 26 | 22 | 10.5 | 11 | ||
| Add average share-based remuneration programmes, periodic, million | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2 | ||
| Add average Derivatives on Nordea shares, million | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 | 0 | ||
| Weighted average number of diluted shares, million | 3,622 | 3,674 | -1% | 3,894 | -7% | 3,722 | 3,792 | 3,894 | 3,978 | 4,042 | 4,041 |
| Net profit for the period excl. non-controlling interests, EURm | 1,123 | 1,278 | 234 | 1,001 | 1,055 | 234 | 1,017 | 1,001 | 1,025 | ||
| Divide with weighted average number of shares, million | 3,619 | 3,671 | 3,891 | 3,719 | 3,789 | 3,891 | 3,975 | 4,039 | 4,039 | ||
| Basic earnings per share (EPS), EUR | 0.31 | 0.35 | -11% | 0.06 | 414% | 0.27 | 0.28 | 0.06 | 0.26 | 0.25 | 0.25 |
| Excl. items affecting comparability: | - | ||||||||||
| Non-deductable loss FX - Russia, EURm | - | - | -529 | - | - | -529 | - | - | - | ||
| Losses on fund investments in Russia, net of tax, EURm | - | - | -6 | - | - | -6 | - | - | - | ||
| Credit losses on direct Russia-linked exposures, net of tax, EURm | - | - | -64 | - | - | -64 | - | - | - | ||
| Basic earnings per share excl. items affecting comparability, EUR | 0.31 | 0.35 | -11% | 0.21 | 48% | 0.27 | 0.28 | 0.21 | 0.26 | 0.25 | 0.25 |
| EPS, rolling 12 months up to period end, EUR | 1.21 | 0.96 | 26% | 0.82 | 48% | ||||||
| EPS, rolling 12 months up to period end excl. items aff. comp., EUR | 1.21 | 1.11 | 9% | 0.97 | 25% | ||||||
| Net profit for the period excl. non-controlling interests, EURm | 1,123 | 1,278 | 234 | ||||||||
| Divide with weighted average number of diluted share, YTD, million | 3,622 | 3,674 | 3,894 | ||||||||
| Diluted earnings per share (DEPS), EUR | 0.31 | 0.35 | -11% | 0.06 | 417% | ||||||
| Excl. items affecting comparability: | |||||||||||
| Non-deductable loss FX - Russia, EURm | - | - | -529 | ||||||||
| Losses on fund investments in Russia, net of tax, EURm | - | - | -6 | ||||||||
| Credit losses on direct Russia-linked exposures, net of tax, EURm | - | - | -64 | ||||||||
| Diluted earnings per share excl. items affecting comparability, EUR | 0.31 | 0.35 | -11% | 0.21 | 48% | ||||||
| Share price, end of period, SEK | 110.9 | 111.5 | 97.1 | ||||||||
| Divide with exchange rate SEK/EUR, closing date | 11.27 | 11.12 | 10.35 | ||||||||
| Share price, end of period, EUR | 9.84 | 10.03 | -2% | 9.38 | 5% | ||||||
| Total equity, end of period, EURm | 28,181 | 30,844 | 30,325 | ||||||||
| Deduct non-controlling interests, end of period, EURm | 0 | 0 | 8 | ||||||||
| Total equity attributable to shareholders, EURm | 28,181 | 30,844 | 30,317 | ||||||||
| Divide with diluted number of shares outstanding, end of period, million | 3,597 | 3,644 | 3,844 | ||||||||
| Equity per share, end of period, EUR | 7.84 | 8.46 | -7% | 7.89 | -1% | ||||||
| Performance related APMs | Q1 | Q4 | Change | Q1 | Change | ||||||
| 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | |||||||
| Net profit for the period excl. non-controlling interests and interest on AT1 capital, EURm | 1,142 | 1,272 | 254 | ||||||||
| Net profit for the period excl. non-controlling interests and interest on AT1 capital, annualised, EURm | 4,567 | 5,086 | 1,016 | ||||||||
| Divide with average equity incl. dividend until paid out in March, EURm | 29,832 | 30,072 | 31,732 | ||||||||
| Return on equity, % | 15.3% | 16.9% | -9% | 3.2% | 378% | ||||||
| Excl. items affecting comparability: | |||||||||||
| Non-deductable loss FX - Russia, EURm | - | - | -529 | ||||||||
| Losses on fund investments in Russia, net of tax, EURm | - | - | -6 | ||||||||
| Credit losses on direct Russia-linked exposures, net of tax, EURm | - | - | -64 | ||||||||
| Return on equity excl. items affecting comparability, % | 15.3% | 16.9% | -9% | 10.8% | 42% | ||||||
| Net profit for the period excl. non-controlling interests and interest on AT1 capital, EURm | 1,142 | 1,272 | 254 | ||||||||
| Net profit for the period excl. non-controlling interests and interest on AT1 capital, annualised, EURm | 4,567 | 5,086 | 1,016 | ||||||||
| Divide with average equity incl. dividend until paid out in March excl tangible assets, EURm | 29,832 | 30,072 | 31,732 | ||||||||
| Excl intangible assets | -3,923 | -4,005 | -3,809 | ||||||||
| Return on tangible equity, % | 17.6% | 19.5% | -10% | 3.6% | 385% | ||||||
| Excl. items affecting comparability: | |||||||||||
| Non-deductable loss FX - Russia, EURm | - | - | -529 | ||||||||
| Losses on fund investments in Russia, net of tax, EURm | - | - | -6 | ||||||||
| Credit losses on direct Russia-linked exposures, net of tax, EURm | - | - | -64 | ||||||||
| Return on tangible equity excl. items affecting comparability, % | 17.6% | 19.5% | -10% | 12.2% | 44% | ||||||
| Net profit for the period excl. non-controlling interests and interest on AT1 capital, EURm | 1,142 | 1,272 | 254 | ||||||||
| Net profit for the period excl. non-controlling interests and interest on AT1 capital, annualised, EURm | 4,567 | 5,086 | 1,016 | ||||||||
| Divide with risk exposure amount, EURm | 141,976 | 145,299 | 154,039 | ||||||||
| Return on risk exposure amount, % | 3.2% | 3.5% | -8% | 0.7% | 388% | ||||||
| Excl. items affecting comparability: | |||||||||||
| Non-deductable loss FX - Russia, EURm | - | - | -529 | ||||||||
| Losses on fund investments in Russia, net of tax, EURm | - | - | -6 | ||||||||
| Credit losses on direct Russia-linked exposures, net of tax, EURm | - | - | -64 | ||||||||
| Return on risk exposure amount excl. items affecting comparability, % | 3.2% | 3.5% | -9% | 2.2% | 45% | ||||||
| Net profit for the period excl. non-controlling interests and interest on AT1 capital, EURm | 1,142 | 1,272 | 254 | ||||||||
| Amortised resolution fees after tax, EURm | 135 | -49 | 148 | ||||||||
| Net profit for the period incl amortised resolution fees excl. non-controlling interests and interest on AT1 capital, annualised, EURm | 5,107 | 4,889 | 1,607 | ||||||||
| Divide with average equity incl. dividend until paid out in March ecxl tangible assets, EURm | 29,832 | 30,072 | 31,732 | ||||||||
| Return on equity with amortised resolution fees, % | 17.1% | 16.3% | 5% | 5.1% | 238% | ||||||
| Excl. items affecting comparability: | |||||||||||
| Non-deductable loss FX - Russia, EURm | - | - | -529 | ||||||||
| Losses on fund investments in Russia, net of tax, EURm | - | - | -6 | ||||||||
| Credit losses on direct Russia-linked exposures, net of tax, EURm | - | - | -64 | ||||||||
| Return on equity with amortised resolution fees excl. items affecting comparability, % | 17.1% | 16.3% | 5% | 12.6% | 36% | ||||||
| Average loans to credit institutions and central banks, EURm | 84,742 | 78,061 | 83,729 | ||||||||
| Average loans to credit institutions and central banks Life & Pension and Markets, EURm | 7,965 | 7,730 | 8,980 | ||||||||
| Average loans to credit institutions and central banks, excl Life & Pension and Markets, EURm | 76,777 | 70,331 | 74,749 | ||||||||
| Average loans to the public, EURm | 342,641 | 347,421 | 345,660 | ||||||||
| Average loans to the public Life & Pension and Markets, EURm | 20,343 | 18,649 | 18,799 | ||||||||
| Average loans to the public, excl Life & Pension and Markets, EURm | 322,298 | 328,772 | 326,861 | ||||||||
| Average interest-earning securities, EURm | 75,348 | 68,275 | 68,519 | ||||||||
| Average interest-earning securities Life & Pension and Markets, EURm | 22,604 | 18,752 | 16,184 | ||||||||
| Average interest-earning securities, excl Life & Pension and Markets, EURm | 52,744 | 49,522 | 52,334 | ||||||||
| Average interest-earning assets, excl Life & Pension and Markets, EURm | 451,818 | 448,625 | 453,945 | ||||||||
| Total net interest income, EURm | 1,765 | 1,641 | 1,308 | ||||||||
| Annualised net interest income, EURm | 7,158 | 6,509 | 5,306 | ||||||||
| Net interest margin, % | 1.58% | 1.45% | 1.17% | ||||||||
| Cont.,Performance related APMs | Q1 | Q4 | Change | Q1 | Change | ||||||
| 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | |||||||
| Total operating expenses, EURm | -1,422.0 | -1,211.8 | -1,370.3 | ||||||||
| Regulatory fees, EURm | -255.1 | -16.3 | -272.5 | ||||||||
| Total operating expenses excluding regulatory fees, EURm | -1,166.9 | -1,195.5 | -2% | -1,097.8 | 6% | ||||||
| Total operating expenses, EURm | -1,422 | -1,212 | -1,370 | ||||||||
| Total operating income, EURm | 2,921 | 2,897 | 1,924 | ||||||||
| Cost-to-income ratio, % | 48.7% | 41.8% | 17% | 71.2% | -32% | ||||||
| Total operating expenses, EURm | -1,422 | -1,212 | -1,370 | ||||||||
| Excl. items affecting comparability, before tax, EURm | 0 | 0 | 0 | ||||||||
| Total operating expenses excl. items affecting comparability, EURm | -1,422 | -1,212 | -1,370 | ||||||||
| Total operating income, EURm | 2,921 | 2,897 | 1,924 | ||||||||
| Excl. items affecting comparability, before tax, EURm | 0 | 0 | -537 | ||||||||
| Total operating income excl. items affecting comparability, EURm | 2,921 | 2,897 | 2,461 | ||||||||
| Cost-to-income ratio excl. items affecting comparability, % | 48.7% | 41.8% | 17% | 55.7% | -13% | ||||||
| Total operating expenses, EURm | -1,422 | -1,212 | -1,370 | ||||||||
| Amortised resolution fees, before tax, EURm | 175 | -64 | 192 | ||||||||
| Total operating income, EURm | 2,921 | 2,897 | 1,924 | ||||||||
| Cost-to-income ratio with amortised resolution fees, % | 42.7% | 44.0% | -3% | 61.2% | -30% | ||||||
| Total operating expenses, EURm | -1,422 | -1,212 | -1,370 | ||||||||
| Amortised resolution fees before tax, EURm | 175 | -64 | 192 | ||||||||
| Excl. items affecting comparability, before tax, EURm | 0 | 0 | 0 | ||||||||
| Total operating expenses excl. items affecting comparability, EURm | -1,247 | -1,276 | -1,178 | ||||||||
| Total operating income, EURm | 2,921 | 2,897 | 1,924 | ||||||||
| Excl. items affecting comparability, before tax, EURm | 0 | 0 | -537 | ||||||||
| Total operating income excl. items affecting comparability, EURm | 2,921 | 2,897 | 2,461 | ||||||||
| Cost-to-income ratio with amortised resolution fees excl. items affecting comparability, % | 42.7% | 44.0% | -3% | 47.9% | -11% | ||||||
| Total operating expenses, EURm | -1,422 | -1,212 | -1,370 | ||||||||
| Regulatory fees, EURm | -255 | -16 | -273 | ||||||||
| Total operating income, EURm | 2,921 | 2,897 | 1,924 | ||||||||
| Cost-to-income ratio excl. regulatory fees, % | 39.9% | 41.3% | -3% | 57.1% | -30% | ||||||
| Total operating expenses, EURm | -1,422 | -1,212 | -1,370 | ||||||||
| Regulatory fees, EURm | -255 | -16 | -273 | ||||||||
| Excl. items affecting comparability, before tax, EURm | 0 | 0 | 0 | ||||||||
| Total operating expenses excl. regulatory fees and items affecting comparability, EURm | -1,167 | -1,196 | -1,098 | ||||||||
| Total operating income, EURm | 2,921 | 2,897 | 1,924 | ||||||||
| Excl. items affecting comparability, before tax, EURm | 0 | 0 | -537 | ||||||||
| Total operating income excl. items affecting comparability, EURm | 2,921 | 2,897 | 2,461 | ||||||||
| Cost-to-income ratio excl. regulatory fees, excl. items affecting comparability, % | 39.9% | 41.3% | -3% | 44.6% | -11% | ||||||
| Net profit for the period, EURm | 1,148 | 1,273 | 259 | ||||||||
| Average economic capital, EURm | 21,996 | 22,370 | 23,284 | 22,725 | 23,289 | 23,284 | 23,262 | 23,153 | 23,459 | ||
| Return on capital at risk, % | 21.2% | 22.6% | -6% | 4.5% | 371% | ||||||
| Net profit for the period, EURm | 1,148 | 1,273 | 259 | ||||||||
| Excl. items affecting comparability, EURm | 0 | 0 | -599 | ||||||||
| Net profit for the period excl. items affecting comparability, EURm | 1,148 | 1,273 | 858 | ||||||||
| Average economic capital, EURm | 21,996 | 22,370 | 23,284 | 22,725 | 23,289 | 23,284 | 23,262 | 23,153 | 23,459 | ||
| Return on capital at risk, excl items affecting comparability% | 21.2% | 22.6% | -6% | 14.9% | 42% | ||||||
| Net profit for the period, EURm | 1,148 | 1,273 | 259 | ||||||||
| Amortised resolution fees after tax, EURm | 135 | -49 | 148 | ||||||||
| Net profit for the period with amortised resoluton fees excl. items affecting comparability, EURm | 1,283 | 1,224 | 407 | ||||||||
| Average economic capital, EURm | 21,996 | 22,370 | 23,284 | 22,725 | 23,289 | 23,284 | 23,262 | 23,153 | 23,459 | ||
| Return on capital at risk with amortised resolution fees, % | 23.7% | 21.7% | 9% | 7.1% | 234% | ||||||
| Net profit for the period, EURm | 1,148 | 1,273 | 259 | ||||||||
| Amortised resolution fees after tax, EURm | 135 | -49 | 148 | ||||||||
| Excl. items affecting comparability, EURm | 0 | 0 | -599 | ||||||||
| Net profit for the period with amortised resoluton fees excl. items affecting comparability, EURm | 1,283 | 1,224 | 1,006 | ||||||||
| Average economic capital, EURm | 21,996 | 22,370 | 23,284 | 22,725 | 23,289 | 23,284 | 23,262 | 23,153 | 23,459 | ||
| Return on capital at risk with amortised resolution fees, excluding items affecting comparability % | 23.7% | 21.7% | 9% | 17.5% | 35% | ||||||
| Credit related APMs | Q1 | Q4 | Change | Q1 | Change | ||||||
| 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | |||||||
| Net loan losses, EURm | -21 | -51 | -72 | ||||||||
| Net loan losses, annualised, EURm | -84 | -204 | -288 | ||||||||
| Divide with total lending at amortised cost1 , EURm | 319,262 | 275,116 | 276,590 | ||||||||
| Net loan losses, stage 1 | -10 | -9 | -20 | ||||||||
| Net loan losses, stage 2 | 8 | -2 | -15 | ||||||||
| Net loan losses, defaulted | -19 | -40 | -37 | ||||||||
| Net loan loss ratio, amortised cost, basis points | 3 | 7 | 10 | ||||||||
| - of which stage 1 | 1 | 1 | 3 | ||||||||
| - of which stage 2 | -1 | 0 | 2 | ||||||||
| - of which stage 3 | 3 | 6 | 5 | ||||||||
| Net result from loans in hold portfolios mandatorily held at fair value, EURm | 2 | -8 | 8 | ||||||||
| Net loan losses, EURm | -21 | -51 | -72 | ||||||||
| Net result from loans in hold portfolios mandatorily held at fair value and Net loan losses, annualised, EURm | -76 | -236 | -256 | ||||||||
| Divide with total lending at amortised cost and mortgage loans measures at fair value1, EURm | 339,746 | 345,743 | 351,902 | ||||||||
| Net loan loss ratio, including loans held at fair value1, basis points | 2 | 7 | 7 | ||||||||
| Impaired loans, EURm | 2,206 | 2,255 | 3,154 | ||||||||
| Divide with loans before allowances, EURm | 274,170 | 279,626 | 280,765 | ||||||||
| Impairment rate (stage 3), gross, bp2 | 80 | 81 | 112 | ||||||||
| Impaired loans, EURm | 2,206 | 2,255 | 3,154 | ||||||||
| Deduct allowances for individually assessed impaired loans, EURm | 1,023 | 1,045 | 1,309 | ||||||||
| Impaired loans after allowances, EURm | 1,183 | 1,210 | 1,845 | ||||||||
| Divide with loans before allowances, EURm | 274,170 | 279,626 | 280,765 | ||||||||
| Impairment rate (stage 3), net, bp2 | 43 | 43 | 66 | ||||||||
| Total allowances, EURm | 1,642 | 1,673 | 1,952 | ||||||||
| Divide with loans before allowances, EURm | 274,170 | 279,626 | 280,765 | ||||||||
| Total allowance ratio (stages 1, 2 and 3), bp2 | 60 | 60 | 70 | ||||||||
| Allowances for individually assessed impaired loans, EURm | 1,023 | 1,045 | 1,309 | ||||||||
| Divide with impaired loans, EURm | 2,206 | 2,255 | 3,154 | ||||||||
| Allowances in relation to credit impaired loans (stage 3), %2 | 46 | 46 | 42 | ||||||||
| Loans measured at amortised cost, not impaired (stage 1 and 2) | 271,965 | 277,371 | 277,611 | ||||||||
| Allowances for collectively assessed impaired loans (-) | -619 | -628 | -643 | ||||||||
| Allowances in relation to loans in stages 1 and 2, Bp | 23 | 23 | 23 | ||||||||
| Impaired loans, EURm | 459 | 470 | 637 | ||||||||
| Divide with loans measured at fair value | 72,505 | 70,627 | 75,312 | ||||||||
| Impairment rate for fair value, bps | 63 | 67 | 85 | ||||||||
| Past due loans (incl. impaired), corporate | 755 | 814 | 851 | ||||||||
| Divide with Loans to corporates | 161,961 | 164,477 | 163,818 | ||||||||
| Past due corporate loans (incl. impaired) divided by loans to corporates after allowances, % | 0.47 | 0.49 | 0.52 | ||||||||
| Past due loans (incl. impaired), households | 1,388 | 1,569 | 1,461 | ||||||||
| Divide with Loans to households | 177,785 | 181,266 | 188,084 | ||||||||
| Past due household loans (incl. impaired) divided by loans to households after allowances, % | 0.78 | 0.87 | 0.78 | ||||||||
| 2 Including loans to the public measured at amortised cost and mortage loans measured at fair value. | |||||||||||
| 3 Based on IFRS 9 | |||||||||||
| Capital related APMs | Q1 | Q4 | Change | Q1 | Change | ||||||
| 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | |||||||
| CET 1 capital (incl. profit), EURbn | 22.3 | 23.9 | 25.1 | ||||||||
| Divide with risk exposure amount, EURbn | 142.0 | 145.3 | -2% | 154.0 | -8% | ||||||
| Common Equity Tier 1 capital ratio, %1 | 15.7 | 16.4 | 16.3 | ||||||||
| Tier 1 capital (incl. profit), EURbn | 25.5 | 27.2 | -6% | 28.3 | -10% | ||||||
| Divide with risk exposure amount, EURbn | 142.0 | 145.3 | 154.0 | ||||||||
| Tier 1 capital ratio, % | 18.0 | 18.7 | -4% | 18.4 | -2% | ||||||
| Total own funds (incl. profit), EURbn | 28.5 | 30.2 | 31.6 | ||||||||
| Divide with risk exposure amount, EURbn | 142.0 | 145.3 | 154.0 | ||||||||
| Total capital ratio, % | 20.1 | 20.8 | -3% | 20.5 | -2% | ||||||
| CET 1 capital (excl. profit), EURbn | 21.9 | 23.1 | 25.5 | ||||||||
| Divide with risk exposure amount, EURbn | 142.0 | 145.3 | 154.0 | ||||||||
| Common Equity Tier 1 capital ratio, % | 15.5 | 15.9 | 16.5 | ||||||||
| Tier 1 capital (excl. profit), EURbn | 25.2 | 26.4 | 28.6 | ||||||||
| Divide with risk exposure amount, EURbn | 142.0 | 145.3 | 154.0 | ||||||||
| Tier 1 capital ratio, % | 17.7 | 18.2 | 18.6 | ||||||||
| Total own funds (excl. profit), EURbn | 28.2 | 29.5 | 31.9 | ||||||||
| Divide with risk exposure amount, EURbn | 142.0 | 145.3 | 154.0 | ||||||||
| Total capital ratio, % | 19.9 | 20.3 | 20.7 | ||||||||
| Tier 1 capital (excl. profit), EURbn | 25.2 | 26.4 | 28.6 | ||||||||
| Divide with leverage ratio exposure, EURbn | 557.8 | 549.7 | 589.8 | ||||||||
| Leverage ratio (excl. profit), % | 4.5 | 4.8 | 4.9 | ||||||||
| Tier 1 capital (incl. profit), EURbn | 25.5 | 27.2 | 28.3 | ||||||||
| Divide with leverage ratio exposure, EURbn2 | 557.8 | 549.8 | 589.8 | ||||||||
| Leverage ratio (incl. profit), % | 4.6 | 4.9 | -7% | 4.8 | |||||||
| 1 Including profit for the period ajdusted by accrued dividend. | |||||||||||
| 2 Calculated in accordance with article 500b of regulation (EU) 575/2013 of the European Parliament and of the Council (CRR) and decision (EU) 2020/1306 of the European Central Bank of 16 September 2020 (early implementation of CRR 2). | |||||||||||
| Total equity, end of period, EURm | 28,181 | 31,404 | 30,921 | ||||||||
| Deduct dividend and profits to be retained, EURm | 804 | 2,887 | 559 | ||||||||
| Deduct goodwill, EURm | 1,714 | 1,786 | 1,873 | ||||||||
| Add Nordea Life & Pension, net, EURm | 766 | 1,371 | 1,476 | ||||||||
| Add/deduct other, EURm | 4,263 | 6,192 | 6,550 | ||||||||
| Total economic capital, EURm | 22,167 | 21,910 | 1% | 23,416 | -5% | ||||||
| Total equity (Nordea legal group), end of period, EURbn | 28.2 | 31.4 | 30.9 | ||||||||
| Deduct of equity in companies wich do not belong to the conglomerate, EURbn | -0.0 | -0.0 | -0.0 | ||||||||
| Deduct goodwill and other intangible assets, EURbn | -3.2 | -3.3 | -3.1 | ||||||||
| Deduct dividend and profits to be retained, EURbn | -0.8 | -2.9 | 0.0 | ||||||||
| Other corrections in accordance with financial sector-specific regulations (Nordea banking group), EURbn | 3.9 | 4.5 | 4.1 | ||||||||
| Other corrections in accordance to the insurance industy-specific regulations (NLP), EURbn | 2.8 | 2.2 | 2.2 | ||||||||
| Capital adequacy ratio of the financial conglomerate or Conglomerate capital ratio | 30.8 | 31.8 | 34.2 | ||||||||
| The total minimum amount of the capital base calculated in accordance with the regulations in the financial industry | 21.4 | 21.6 | 21.7 | ||||||||
| The total minimum amount of the capital base calculated in accordance with the regulations in the insurance industry | 2.4 | 2.3 | 2.4 | ||||||||
| Coglomerate capital base | 23.8 | 23.9 | 24.1 | ||||||||
| Coglomerate capital base, EURbn | 30.8 | 31.8 | 34.2 | ||||||||
| The minimum amount of the financial conglomerates capital base,EURbn | 23.8 | 23.9 | 24.1 | ||||||||
| Own funds requirement of the financial conglomerate | 1.29 | 1.33 | 1.42 | ||||||||
| Liquidity related APMs | Q1 | Q4 | Change | Q1 | Change | ||||||
| 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | |||||||
| Stock of high quality liquid assets | 119,206 | 111,285 | 122,173 | ||||||||
| Divide with total net cash outflows over the next 30 calendar days | 73,917 | 68,716 | 79,644 | ||||||||
| Liquidity coverage ratio, % | 161 | 162 | 153 | ||||||||
| Sum of available stabile funding | 313,743 | 313,478 | 316,764 | ||||||||
| Divide with sum of required stable funding | 269,712 | 271,119 | 281,718 | ||||||||
| Net stable funding ratio, %1 | 116 | 116 | 112 | ||||||||
| Other APMs | |||||||||||
| Income Statement | Q1 | Q4 | Change | Q1 | Change | ||||||
| EURm | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | ||||||
| Net interest income | 1,765 | 1,641 | 8% | 1,308 | 35% | ||||||
| Net fee and commission income | 765 | 785 | -3% | 829 | -8% | ||||||
| Net insurance result | 46 | 47 | -2% | 35 | 31% | ||||||
| Net result from items at fair value | 345 | 396 | -13% | -265 | -230% | ||||||
| Equity method | -12 | -1 | 1100% | 0 | ERROR:#DIV/0! | ||||||
| Other operating income | 12 | 29 | -59% | 17 | -29% | ||||||
| Total operating income | 2,921 | 2,897 | 1% | 1,924 | 52% | ||||||
| Staff costs | -719 | -721 | -0% | -692 | 4% | ||||||
| Other expenses | -287 | -315 | -9% | -259 | 11% | ||||||
| Regulatory fees | -255 | -16 | 1494% | -273 | -7% | ||||||
| Depreciation of tangible and intangible assets | -161 | -160 | 1% | -146 | 10% | ||||||
| Total operating expenses | -1,422 | -1,212 | 17% | -1,370 | 4% | ||||||
| Profit before loan losses | 1,499 | 1,685 | -11% | 554 | 171% | ||||||
| Net result from loans in hold portfolios mandatorily held at fair value | 2 | -8 | -125% | 8 | -75% | ||||||
| Net loan losses | -21 | -51 | -59% | -72 | -71% | ||||||
| Operating profit | 1,480 | 1,626 | -9% | 490 | 202% | ||||||
| Income tax expense | -332 | -353 | -6% | -231 | 44% | ||||||
| Net profit for the period | 1,148 | 1,273 | -10% | 259 | 343% | ||||||
| Income Statement (loc.curr.) | Q1 | Q4 | Chg. Loc. curr. | Q1 | Chg. Loc. curr. | ||||||
| EURm | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | ||||||
| Net interest income | 1,819 | 1,635 | 11% | 1,272 | 43% | ||||||
| Net fee and commission income | 777 | 786 | -1% | 815 | -5% | ||||||
| Net insurance result | 47 | 47 | 0% | 35 | 34% | ||||||
| Net result from items at fair value | 329 | 400 | -18% | -258 | -228% | ||||||
| Equity method | -11 | -1 | 1000% | 0 | ERROR:#DIV/0! | ||||||
| Other operating income | 13 | 29 | -55% | 17 | -24% | ||||||
| Total operating income | 2,974 | 2,896 | 3% | 1,881 | 58% | ||||||
| Staff costs | -730 | -721 | 1% | -682 | 7% | ||||||
| Other expenses | -295 | -315 | -6% | -252 | 17% | ||||||
| Regulatory fees | -257 | -16 | 1506% | -271 | -5% | ||||||
| Depreciation of tangible and intangible assets | -163 | -160 | 2% | -144 | 13% | ||||||
| Total operating expenses | -1,445 | -1,212 | 19% | -1,349 | 7% | ||||||
| Profit before loan losses | 1,529 | 1,684 | -9% | 532 | 187% | ||||||
| Net result from loans in hold portfolios mandatorily held at fair value | 2 | -8 | -125% | 8 | -75% | ||||||
| Net loan losses | -21 | -50 | -58% | -70 | -70% | ||||||
| Operating profit | 1,510 | 1,626 | -7% | 470 | 221% | ||||||
| Income tax expense | -339 | -353 | -4% | -226 | 50% | ||||||
| Net profit for the period | 1,171 | 1,273 | -8% | 244 | 380% | ||||||
| Business volumes, key items | Q1 | Q4 | Change | Q1 | Change | ||||||
| EURbn | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | ||||||
| Loans to the public | 339.7 | 345.7 | -2% | 351.9 | -3% | ||||||
| Loans to the public, excl. reverse repurchase/securities borrowing agreements | 319.3 | 327.3 | -2% | 333.1 | -4% | ||||||
| Deposits and borrowings from the public | 217.7 | 217.5 | 0% | 221.1 | -2% | ||||||
| Deposits and borrowings from the public, excl. repurchase/securities lending agreements | 210.7 | 210.8 | -0% | 212.0 | -1% | ||||||
| Total assets | 604.1 | 594.7 | 2% | 624.5 | -3% | ||||||
| Assets under management | 362.4 | 358.9 | 1% | 389.4 | -7% | ||||||
| Equity | 28.2 | 30.6 | -8% | 30.3 | -7% | ||||||
| Business volumes, key items (loc.curr.) | Q1 | Q4 | Chg. Loc. curr. | Q1 | Chg. Loc. curr. | ||||||
| EURbn | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | ||||||
| Loans to the public | 350.1 | 348.8 | 0% | 341.5 | 3% | ||||||
| Loans to the public, excl. reverse repurchase/securities borrowing agreements | 329.6 | 330.3 | -0% | 322.7 | 2% | ||||||
| Deposits and borrowings from the public | 223.5 | 219.4 | 2% | 215.6 | 4% | ||||||
| Deposits and borrowings from the public, excl. repurchase/securities lending agreements | 216.5 | 212.8 | 2% | 206.5 | 5% | ||||||
| Total assets | 618.6 | 599.7 | 3% | 610.3 | 1% | ||||||
| Income Statement excl. items affecting comparability | Q1 | Q4 | Change | Q1 | Change | ||||||
| EURm | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | ||||||
| Net interest income | 1,765 | 1,641 | 8% | 1,308 | 35% | ||||||
| Net fee and commission income | 765 | 785 | -3% | 829 | -8% | ||||||
| Net insurance result | 46 | 47 | -2% | 35 | 31% | ||||||
| Net result from items at fair value | 345 | 396 | -13% | 272 | 27% | ||||||
| Equity method | -12 | -1 | 1100% | 0 | ERROR:#DIV/0! | ||||||
| Other operating income | 12 | 29 | -59% | 17 | -29% | ||||||
| Total operating income | 2,921 | 2,897 | 1% | 2,461 | 19% | ||||||
| Staff costs | -719 | -721 | -0% | -692 | 4% | ||||||
| Other expenses | -287 | -315 | -9% | -259 | 11% | ||||||
| Regulatory fees | -255 | -16 | 1494% | -273 | -7% | ||||||
| Depreciation of tangible and intangible assets | -161 | -160 | 1% | -146 | 10% | ||||||
| Total operating expenses | -1,422 | -1,212 | 17% | -1,370 | 4% | ||||||
| Profit before loan losses | 1,499 | 1,685 | -11% | 1,091 | 37% | ||||||
| Net result from loans in hold portfolios mandatorily held at fair value | 2 | -8 | -125% | 8 | -75% | ||||||
| Net loan losses and similar net result | -21 | -51 | -59% | 4 | -625% | ||||||
| Operating profit | 1,480 | 1,626 | -9% | 1,103 | 34% | ||||||
| Income tax expense | -332 | -353 | -6% | -245 | 36% | ||||||
| Net profit for the period | 1,148 | 1,273 | -10% | 858 | 34% | ||||||
| Income Statement excl. items affecting comparability (loc.curr.) | Q1 | Q4 | Chg. Loc. curr. | Q1 | Chg. Loc. curr. | ||||||
| EURm | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | ||||||
| Net interest income | 1,819 | 1,635 | 11% | 1,272 | 43% | ||||||
| Net fee and commission income | 777 | 786 | -1% | 815 | -5% | ||||||
| Net insurance result | 47 | 47 | 0% | 35 | 34% | ||||||
| Net result from items at fair value | 329 | 400 | -18% | 279 | 18% | ||||||
| Equity method | -11 | -1 | 1000% | 0 | ERROR:#DIV/0! | ||||||
| Other operating income | 13 | 29 | -55% | 17 | -24% | ||||||
| Total operating income | 2,974 | 2,896 | 3% | 2,418 | 23% | ||||||
| Staff costs | -730 | -721 | 1% | -682 | 7% | ||||||
| Other expenses | -295 | -315 | -6% | -252 | 17% | ||||||
| Regulatory fees | -257 | -16 | 1506% | -271 | -5% | ||||||
| Depreciation of tangible and intangible assets | -163 | -160 | 2% | -144 | 13% | ||||||
| Total operating expenses | -1,445 | -1,212 | 19% | -1,349 | 7% | ||||||
| Profit before loan losses | 1,529 | 1,684 | -9% | 1,069 | 43% | ||||||
| Net result from loans in hold portfolios mandatorily held at fair value | 2 | -8 | -125% | 8 | -75% | ||||||
| Net loan losses | -21 | -50 | -58% | 6 | -450% | ||||||
| Operating profit | 1,510 | 1,626 | -7% | 1,083 | 39% | ||||||
| Income tax expense | -339 | -353 | -4% | -240 | 41% | ||||||
| Net profit for the period | 1,171 | 1,273 | -8% | 843 | 39% |
&"Nordea Sans Large,Regular"&K00-022APM Nordea Group First Quarter 2018
&1#&"Calibri"&10&K000000Confidential &P (&N)
Personal Banking
| Personal Banking | Q1 | Q4 | Change | Q1 | Change |
| Alternative Performance Measures | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 |
| Personal Banking total | |||||
| Income Statement | |||||
| EURm | |||||
| Net interest income | 811 | 764 | 6% | 565 | 44% |
| Net fee and commission income | 257 | 272 | -6% | 286 | -10% |
| Net insurance result | 28 | 27 | 4% | 19 | 47% |
| Net result from items at fair value | 18 | 13 | 38% | 39 | -54% |
| Equity method and other income | 1 | 0 | 2 | ||
| Total operating income | 1,115 | 1,076 | 4% | 911 | 22% |
| Total operating expenses | -547 | -482 | 13% | -503 | 9% |
| Profit before loan losses | 568 | 594 | -4% | 408 | 39% |
| Net loan losses and similar net result | -35 | -18 | -13 | ||
| Operating profit | 533 | 576 | -7% | 395 | 35% |
| Income Statement (loc.curr.) | Q1 | Q4 | Chg. Loc. curr. | Q1 | Chg. Loc. curr. |
| EURm | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 |
| Net interest income | 825 | 763 | 8% | 553 | 49% |
| Net fee and commission income | 261 | 273 | -4% | 281 | -7% |
| Net insurance result | 29 | 28 | 4% | 18 | 61% |
| Net result from items at fair value | 19 | 14 | 36% | 38 | -50% |
| Equity method and other income | 1 | 0 | 2 | ||
| Total operating income | 1,135 | 1,078 | 5% | 892 | 27% |
| Total operating expenses | -558 | -484 | 15% | -493 | 13% |
| Profit before loan losses | 577 | 594 | -3% | 399 | 45% |
| Net loan losses and similar net result | -35 | -19 | 84% | -12 | 192% |
| Operating profit | 542 | 575 | -6% | 387 | 40% |
| Ratios | |||||
| Total operating expenses, EURm | -547 | -482 | -503 | ||
| Resolution fees, EURm | -74 | 1 | -63 | ||
| Total operating expenses excluding resoluton fees, EURm | -473 | -483 | -2% | -440 | 8% |
| Total operating expenses, EURm | -547 | -482 | -503 | ||
| Total operating income, EURm | 1,115 | 1,076 | 911 | ||
| Cost-to-income ratio, % | 49% | 45% | 55% | ||
| Total operating expenses, EURm | -547 | -482 | -503 | ||
| Amortised resolution fees, before tax, EURm | 56 | -18 | 47 | ||
| Total operating income, EURm | 1,115 | 1,076 | 911 | ||
| Cost-to-income ratio with amortised resolution fees, % | 44% | 46% | 50% | ||
| Operating profit less standard tax, EURm | 533 | 576 | 395 | ||
| Amortised resolution fees, before tax, EURm | 56 | -18 | 47 | ||
| Standard tax 23%, EURm | -135 | -128 | -102 | ||
| Operating profit incl. standard tax, EURm | 453 | 430 | 340 | ||
| Average economic capital, EURm | 7,266 | 7,320 | 7,826 | ||
| Return on capital at risk with amortised resolution fees, % | 25% | 23% | 18% | ||
| Gross Inflow Sustainable Choise | 321 | 364 | 496 | ||
| Gross Inflow Total | 1,154 | 1,145 | 1,934 | ||
| Gross Inflow Sustainable Share, % | -28% | -32% | -26% | ||
| Credit risk | 5,229 | 5,055 | 5,694 | ||
| Market risk | 0 | 0 | 0 | ||
| Operational risk | 788 | 675 | 675 | ||
| Intangible assets | 405 | 407 | 421 | ||
| Other risks and deductions | 816 | 1,082 | 1,120 | ||
| Total economic capital, EURm | 7,238 | 7,219 | 0% | 7,909 | -8% |
| Volumes | |||||
| Mortgage lending | 144.6 | 148.2 | -2% | 152.9 | -5% |
| Other lending | 21.4 | 21.3 | 0% | 21.1 | 1% |
| Total Lending | 166.0 | 169.5 | -2% | 174.0 | -5% |
| Total Deposits | 84.3 | 85.9 | -2% | 86.6 | -3% |
| Volumes (local curr.) | |||||
| Mortgage lending | 149.3 | 149.6 | -0% | 148.0 | 1% |
| Other lending | 21.7 | 21.4 | 1% | 20.7 | 5% |
| Total Lending | 171.0 | 171.0 | 0% | 168.7 | 1% |
| Total Deposits | 86.2 | 86.6 | -0% | 84.5 | 2% |
| Personal Banking specification | |||||
| Q1 | Q4 | Change | Q1 | Change | |
| 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | |
| Net interest income, EURm | |||||
| PeB Denmark | 197 | 183 | 8% | 154 | 28% |
| PeB Finland | 226 | 192 | 18% | 108 | 109% |
| PeB Norway | 128 | 113 | 13% | 121 | 6% |
| PeB Sweden | 260 | 267 | -3% | 186 | 40% |
| Net interest income (local curr.), EURm | |||||
| PeB Denmark | 197 | 183 | 8% | 154 | 28% |
| PeB Finland | 226 | 192 | 18% | 108 | 109% |
| PeB Norway | 135 | 113 | 19% | 115 | 17% |
| PeB Sweden | 267 | 266 | 0% | 179 | 49% |
| Net commission income, EURm | |||||
| PeB Denmark | 70 | 83 | -16% | 76 | -8% |
| PeB Finland | 76 | 78 | -3% | 78 | -3% |
| PeB Norway | 23 | 25 | -8% | 25 | -8% |
| PeB Sweden | 90 | 86 | 5% | 108 | -17% |
| Net commission income (local curr.), EURm | |||||
| PeB Denmark | 71 | 83 | -14% | 76 | -7% |
| PeB Finland | 76 | 78 | -3% | 78 | -3% |
| PeB Norway | 24 | 24 | 0% | 24 | 0% |
| PeB Sweden | 93 | 87 | 7% | 104 | -11% |
| Net loan losses and similar net result, EURm | |||||
| PeB Denmark | -5 | -15 | -67% | 9 | -156% |
| PeB Finland | -16 | -4 | 300% | -14 | 14% |
| PeB Norway | -4 | 7 | -157% | -1 | 300% |
| PeB Sweden | -9 | -7 | 29% | -6 | 50% |
| Volumes | |||||
| Personal banking Denmark, EURbn | |||||
| Mortgage lending | 35.1 | 35.6 | -1% | 36.3 | -3% |
| Other lending | 9.9 | 9.5 | 4% | 8.6 | 15% |
| Total lending | 45.0 | 45.1 | -0% | 44.9 | 0% |
| Total deposits | 22.2 | 22.0 | 1% | 21.2 | 5% |
| Personal banking Denmark (local curr.), EURbn | |||||
| Mortgage lending | 35.1 | 35.6 | -1% | 36.3 | -3% |
| Other lending | 9.9 | 9.5 | 4% | 8.6 | 15% |
| Total lending | 45.0 | 45.1 | -0% | 44.9 | 0% |
| Total deposits | 22.2 | 22.0 | 1% | 21.2 | 5% |
| Personal banking Finland, EURbn | |||||
| Mortgage lending | 30.9 | 31.2 | -1% | 30.7 | 1% |
| Other lending | 6.1 | 6.1 | 0% | 6.2 | -2% |
| Total lending | 37.0 | 37.3 | -1% | 36.9 | 0% |
| Total deposits | 26.1 | 26.5 | -2% | 26.3 | -1% |
| Personal banking Finland (local curr.), EURbn | |||||
| Mortgage lending | 30.9 | 31.2 | -1% | 30.7 | 1% |
| Other lending | 6.1 | 6.1 | 0% | 6.2 | -2% |
| Total lending | 37.0 | 37.3 | -1% | 36.9 | 0% |
| Total deposits | 26.1 | 26.5 | -2% | 26.3 | -1% |
| Personal banking Norway, EURbn | |||||
| Mortgage lending | 31.8 | 34.2 | -7% | 37.0 | -14% |
| Other lending | 2.2 | 2.4 | -8% | 2.7 | -19% |
| Total lending | 34.0 | 36.6 | -7% | 39.7 | -14% |
| Total deposits | 9.8 | 10.7 | -8% | 11.2 | -13% |
| Personal banking Norway (local curr.), EURbn | |||||
| Mortgage lending | 34.9 | 34.6 | 1% | 34.4 | 1% |
| Other lending | 2.4 | 2.4 | 0% | 2.6 | -8% |
| Total lending | 37.3 | 37.0 | 1% | 37.0 | 1% |
| Total deposits | 10.7 | 10.8 | -1% | 10.5 | 2% |
| Personal banking Sweden, EURbn | |||||
| Mortgage lending | 46.9 | 47.2 | -1% | 49.0 | -4% |
| Other lending | 3.1 | 3.3 | -6% | 3.6 | -14% |
| Total lending | 50.0 | 50.5 | -1% | 52.6 | -5% |
| Total deposits | 26.2 | 26.7 | -2% | 27.9 | -6% |
| Personal banking Sweden (local curr.), EURbn | |||||
| Mortgage lending | 48.5 | 48.2 | 1% | 46.5 | 4% |
| Other lending | 3.2 | 3.4 | -6% | 3.4 | -6% |
| Total lending | 51.7 | 51.6 | 0% | 49.9 | 4% |
| Total deposits | 27.1 | 27.3 | -1% | 26.5 | 2% |
&"Nordea Sans Large,Regular"&K00-022APM Nordea Group First Quarter 2018
&1#&"Calibri"&10&K000000Confidential &P (&N)
Business Banking
| Business Banking | Q1 | Q4 | Change | Q1 | Change |
| Alternative Performance Measures | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 |
| Business Banking total | |||||
| Income Statement | |||||
| EURm | |||||
| Net interest income | 581 | 556 | 4% | 438 | 33% |
| Net fee and commission income | 151 | 158 | -4% | 156 | -3% |
| Net insurance result | 4 | 4 | 0% | 3 | 33% |
| Net result from items at fair value | 109 | 93 | 17% | 96 | 14% |
| Equity method and other income | -3 | 10 | -130% | 10 | -130% |
| Total operating income | 842 | 821 | 3% | 703 | 20% |
| Total operating expenses | -383 | -310 | 24% | -349 | 10% |
| Profit before loan losses | 459 | 511 | -10% | 354 | 30% |
| Net loan losses and similar net result | -5 | -37 | -86% | -11 | -55% |
| Operating profit | 454 | 474 | -4% | 343 | 32% |
| Income Statement (loc.curr.) | Q1 | Q4 | Chg. Loc. curr. | Q1 | Chg. Loc. curr. |
| EURm | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 |
| Net interest income | 593 | 555 | 7% | 428 | 39% |
| Net fee and commission income | 154 | 158 | -3% | 153 | 1% |
| Net insurance result | 4 | 4 | 0% | 3 | 33% |
| Net result from items at fair value | 112 | 92 | 22% | 94 | 19% |
| Equity method and other income | -3 | 11 | -127% | 10 | -130% |
| Total operating income | 860 | 820 | 5% | 688 | 25% |
| Total operating expenses | -390 | -311 | 25% | -341 | 14% |
| Profit before loan losses | 470 | 509 | -8% | 347 | 35% |
| Net loan losses and similar net result | -5 | -37 | -86% | -11 | -55% |
| Operating profit | 465 | 472 | -1% | 336 | 38% |
| Ratios | |||||
| Net fee and commission income | 151 | 158 | 156 | ||
| Net result from items at fair value | 109 | 93 | 96 | ||
| Ancillary income | 260 | 251 | 4% | 252 | 3% |
| Total operating expenses, EURm | -383 | -310 | -349 | ||
| Resolution fees, EURm | -81 | 0 | -66 | ||
| Total operating expenses excluding resoluton fees, EURm | -302 | -310 | -3% | -283 | 7% |
| Total operating expenses, EURm | -383 | -310 | -349 | ||
| Total operating income, EURm | 842 | 821 | 703 | ||
| Cost-to-income ratio, % | 45% | 38% | 50% | ||
| Total operating expenses, EURm | -383 | -310 | -349 | ||
| Amortised resolution fees, before tax, EURm | 61 | -18 | 48 | ||
| Total operating income, EURm | 842 | 821 | 703 | ||
| Cost-to-income ratio with amortised resolution fees, % | 38% | 40% | 43% | ||
| Operating profit less standard tax, EURm | 454 | 474 | 343 | ||
| Amortised resolution fees, before tax, EURm | 61 | -18 | 48 | ||
| Standard tax 23%, EURm | -118 | -105 | -90 | ||
| Operating profit incl. standard tax, EURm | 397 | 351 | 301 | ||
| Average economic capital, EURm | 7,018 | 6,745 | 6,849 | ||
| Return on capital at risk with amortised resolution fees, % | 23% | 21% | 18% | ||
| Credit risk | 4,754 | 4,495 | 4,638 | ||
| Market risk | 0 | 0 | 0 | ||
| Operational risk | 663 | 535 | 535 | ||
| Intangible assets | 231 | 233 | 244 | ||
| Other risks and deductions | 1,542 | 1,421 | 1,477 | ||
| Total economic capital, EURm | 7,191 | 6,684 | 8% | 6,894 | 4% |
| Volumes | |||||
| Total Lending | 96.2 | 97.9 | -2% | 98.8 | -3% |
| Total Deposits | 50.9 | 53.0 | -4% | 52.5 | -3% |
| Volumes (local curr.) | |||||
| Total Lending | 99.3 | 98.8 | 1% | 95.8 | 4% |
| Total Deposits | 52.4 | 53.5 | -2% | 50.9 | 3% |
| Business Banking specification | |||||
| Q1 | Q4 | Change | Q1 | Change | |
| 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | |
| Net interest income, EURm | |||||
| BB Denmark | 119 | 106 | 12% | 91 | 31% |
| BB Finland | 147 | 132 | 11% | 121 | 21% |
| BB Norway | 141 | 148 | -5% | 119 | 18% |
| BB Sweden | 166 | 163 | 2% | 103 | 61% |
| Net interest income (local curr.), EURm | |||||
| BB Denmark | 119 | 106 | 12% | 91 | 31% |
| BB Finland | 147 | 132 | 11% | 121 | 21% |
| BB Norway | 149 | 148 | 1% | 113 | 32% |
| BB Sweden | 170 | 163 | 4% | 99 | 72% |
| Net commission income, EURm | |||||
| BB Denmark | 32 | 31 | 3% | 33 | -3% |
| BB Finland | 56 | 53 | 6% | 51 | 10% |
| BB Norway | 28 | 29 | -3% | 31 | -10% |
| BB Sweden | 48 | 51 | -6% | 55 | -13% |
| Net commission income (local curr.), EURm | |||||
| BB Denmark | 32 | 31 | 3% | 33 | -3% |
| BB Finland | 56 | 53 | 6% | 51 | 10% |
| BB Norway | 30 | 30 | 0% | 29 | 3% |
| BB Sweden | 50 | 50 | 0% | 53 | -6% |
| Net loan losses and similar net result, EURm | |||||
| BB Denmark | 3 | -9 | -133% | 7 | -57% |
| BB Finland | -11 | -9 | 22% | -15 | -27% |
| BB Norway | 3 | -4 | -175% | 2 | 50% |
| BB Sweden | -6 | -16 | -63% | -9 | -33% |
| Lending, EURbn | |||||
| BB Denmark | 25.8 | 26.1 | -1% | 25.6 | 1% |
| BB Finland | 20.5 | 20.5 | 0% | 20.4 | 0% |
| BB Norway | 22.5 | 23.8 | -5% | 24.7 | -9% |
| BB Sweden | 27.4 | 27.5 | -0% | 28.1 | -2% |
| Lending (local curr.), EURbn | |||||
| BB Denmark | 25.8 | 26.1 | -1% | 25.6 | 1% |
| BB Finland | 20.5 | 20.5 | 0% | 20.4 | 0% |
| BB Norway | 24.7 | 24.2 | 2% | 23.0 | 7% |
| BB Sweden | 28.3 | 28.0 | 1% | 26.7 | 6% |
| Deposits, EURbn | |||||
| BB Denmark | 10.5 | 10.4 | 1% | 9.1 | 15% |
| BB Finland | 15.0 | 15.4 | -3% | 14.9 | 1% |
| BB Norway | 8.7 | 9.8 | -11% | 10.8 | -19% |
| BB Sweden | 16.7 | 17.4 | -4% | 17.7 | -6% |
| Deposits (local curr.), EURbn | |||||
| BB Denmark | 10.5 | 10.3 | 2% | 9.1 | 15% |
| BB Finland | 15.0 | 15.4 | -3% | 14.9 | 1% |
| BB Norway | 9.6 | 10.0 | -4% | 10.0 | -4% |
| BB Sweden | 17.3 | 17.8 | -3% | 16.8 | 3% |
&"Nordea Sans Large,Regular"&K00-022APM Nordea Group First Quarter 2018
&1#&"Calibri"&10&K000000Confidential &P (&N)
Large Corporates & Institutions
| Large Corporates & Institutions | Q1 | Q4 | Change | Q1 | Change |
| Alternative Performance Measures | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 |
| Large Corporates & Institutions total | |||||
| Income Statement | |||||
| EURm | |||||
| Net interest income | 348 | 343 | 1% | 269 | 29% |
| Net fee and commission income | 120 | 111 | 8% | 132 | -9% |
| Net insurance result | 0 | 1 | 0 | ||
| Net result from items at fair value | 192 | 155 | 24% | 136 | 41% |
| Equity method and other income | 0 | 12 | 0 | ||
| Total operating income | 660 | 622 | 6% | 537 | 23% |
| Total operating expenses | -290 | -192 | 51% | -274 | 6% |
| Profit before loan losses | 370 | 430 | -14% | 263 | 41% |
| Net loan losses and similar net result | 22 | -4 | -650% | 29 | -24% |
| Operating profit | 392 | 426 | -8% | 292 | 34% |
| Ratios | |||||
| Total operating expenses, EURm | -290 | -192 | -274 | ||
| Resolution fees, EURm | 0 | -99 | -99 | ||
| Total operating expenses excluding resoluton fees, EURm | -290 | -93 | 212% | -175 | 66% |
| Total operating expenses, EURm | -290 | -192 | -274 | ||
| Total operating income, EURm | 660 | 622 | 537 | ||
| Cost-to-income ratio, % | 44% | 31% | 51% | ||
| Total operating expenses, EURm | -290 | -192 | -274 | ||
| Amortised resolution fees, before tax, EURm | 75 | -28 | 71 | ||
| Total operating income, EURm | 660 | 622 | 537 | ||
| Cost-to-income ratio with amortised resolution fees, % | 33% | 35% | 38% | ||
| Operating profit less standard tax, EURm | 392 | 426 | 292 | ||
| Standard tax 23%, EURm | -90 | -98 | -67 | ||
| Operating profit incl. standard tax, EURm | 302 | 328 | 225 | ||
| Average economic capital, EURm | 5,800 | 5,830 | 5,910 | ||
| Return on capital at risk, % | 21% | 22% | 15% | ||
| Operating profit less standard tax, EURm | 392 | 426 | 292 | ||
| Amortised resolution fees, before tax, EURm | 75 | -28 | 71 | ||
| Standard tax 23%, EURm | -107 | -91 | -84 | ||
| Operating profit incl. standard tax with amortised resolution fees, EURm | 359 | 306 | 280 | ||
| Average economic capital, EURm | 5,800 | 5,830 | 5,910 | ||
| Return on capital at risk with amortised resolution fees, % | 25% | 21% | 19% | ||
| Credit risk | 3,989 | 3,943 | 4,118 | ||
| Market risk | 632 | 614 | 690 | ||
| Operational risk | 557 | 477 | 477 | ||
| Intangible assets | 199 | 201 | 212 | ||
| Other risks and deductions | 423 | 435 | 456 | ||
| Total economic capital, EURm | 5,800 | 5,669 | 2% | 5,952 | -3% |
| Volumes1 | |||||
| Total Lending | 50.4 | 51.6 | -2% | 50.0 | 1% |
| Total Deposits | 53.5 | 51.2 | 4% | 55.7 | -4% |
| Large Corporates & Institutions specification | |||||
| Q1 | Q4 | Change | Q1 | Change | |
| 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 | |
| Net interest income, EURm | |||||
| Denmark | 68 | 60 | 13% | 40 | 70% |
| Finland | 59 | 53 | 11% | 48 | 23% |
| Norway | 90 | 92 | -2% | 74 | 22% |
| Sweden | 116 | 123 | -6% | 98 | 18% |
| Net Fee & Commission Income, EURm | |||||
| Denmark | 26 | 27 | -4% | 31 | -16% |
| Finland | 34 | 35 | -3% | 34 | 0% |
| Norway | 26 | 32 | -19% | 27 | -4% |
| Sweden | 38 | 32 | 19% | 45 | -16% |
| Net loan losses and similar net result, EURm | |||||
| Denmark | 16 | -1 | 0 | ||
| Finland | 6 | -2 | 5 | 20% | |
| Norway | 7 | 0 | ERROR:#DIV/0! | 19 | -63% |
| Sweden | -7 | -3 | 133% | 4 | -275% |
| Lending1, EURbn | |||||
| Denmark | 9.5 | 10.2 | -7% | 10.7 | -11% |
| Finland | 8.6 | 8.6 | 0% | 7.9 | 9% |
| Norway | 12.1 | 12.6 | -4% | 12.8 | -5% |
| Sweden | 19.5 | 19.4 | 1% | 17.7 | 10% |
| Deposits1, EURbn | |||||
| Denmark | 11.6 | 10.4 | 12% | 8.0 | 45% |
| Finland | 14.4 | 15.5 | -7% | 15.2 | -5% |
| Norway | 15.1 | 13.0 | 16% | 12.0 | 26% |
| Sweden | 12.4 | 12.3 | 1% | 20.2 | -39% |
| 1 Excluding repurchase and reversed security lending/borrowing agreements. |
&"Nordea Sans Large,Regular"&K00-022APM Nordea Group First Quarter 2018
&1#&"Calibri"&10&K000000Confidential &P (&N)
Asset & Wealth Management
| Asset & Wealth Management | Q1 | Q4 | Change | Q1 | Change |
| Alternative Performance Measures | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 |
| Asset & Wealth Management total | |||||
| Income Statement | |||||
| EURm | |||||
| Net interest income | 73 | 73 | 0% | 26 | 181% |
| Net fee and commission income | 246 | 255 | -4% | 265 | -7% |
| Net insurance result | 14 | 14 | 0% | 13 | 8% |
| Net result from items at fair value | 23 | 9 | 156% | -6 | -483% |
| Equity method and other income | 0 | -1 | 0 | ||
| Total operating income | 356 | 350 | 2% | 298 | 19% |
| Total operating expenses | -144 | -149 | -3% | -134 | 7% |
| Profit before loan losses | 212 | 201 | 5% | 164 | 29% |
| Net loan losses and similar net result | -1 | 2 | -150% | -1 | 0% |
| Operating profit | 211 | 203 | 4% | 163 | 29% |
| Income Statement (loc.curr.) | Q1 | Q4 | Chg. Loc. curr. | Q1 | Chg. Loc. curr. |
| EURm | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 |
| Net interest income | 74 | 73 | 1% | 25 | 196% |
| Net fee and commission income | 247 | 254 | -3% | 263 | -6% |
| Net insurance result | 15 | 15 | 0% | 13 | 15% |
| Net result from items at fair value | 24 | 6 | 300% | -5 | -580% |
| Equity method and other income | 0 | 0 | 0 | ||
| Total operating income | 360 | 348 | 3% | 296 | 22% |
| Total operating expenses | -146 | -150 | -3% | -132 | 11% |
| Profit before loan losses | 214 | 198 | 8% | 164 | 30% |
| Net loan losses and similar net result | -1 | 2 | -1 | ||
| Operating profit | 213 | 200 | 7% | 163 | 31% |
| Ratios | |||||
| Total operating expenses, EURm | -144 | -149 | -134 | ||
| Resolution fees, EURm | -5 | 0 | -3 | ||
| Total operating expenses excluding resoluton fees, EURm | -139 | -149 | -7% | -131 | 6% |
| Total operating expenses, EURm | -144 | -149 | -134 | ||
| Total operating income, EURm | 356 | 350 | 298 | ||
| Cost-to-income ratio, % | 40% | 43% | 45% | ||
| Total operating expenses, EURm | -144 | -149 | -134 | ||
| Amortised resolution fees, before tax, EURm | 4 | -1 | 2 | ||
| Total operating income, EURm | 356 | 350 | 298 | ||
| Cost-to-income ratio with amortised resolution fees, % | 39% | 43% | 44% | ||
| Operating profit less standard tax, EURm | 211 | 203 | 163 | ||
| Amortised resolution fees, before tax, EURm | 4 | -1 | 2 | ||
| Standard tax 23%, EURm | -49 | -46 | -38 | ||
| Operating profit incl. standard tax, EURm | 165 | 155 | 127 | ||
| Average economic capital, EURm | 1,276 | 1,511 | 1,725 | ||
| Return on capital at risk with amortised resolution fees, % | 53% | 41% | 30% | ||
| Credit risk | 374 | 393 | 380 | ||
| Market risk | 0 | 0 | 0 | ||
| Operational risk | 219 | 210 | 210 | ||
| Intangible assets | 97 | 97 | 101 | ||
| Other risks and deductions | 460 | 798 | 914 | ||
| Total economic capital, EURm | 1,151 | 1,498 | -23% | 1,606 | -28% |
| AuM net flow | -2.1 | -3.0 | -2.5 | ||
| AuM volume at beginning of period | 358.9 | 341.4 | 411.3 | ||
| Annualised AuM net flow | -2.3% | -3.5% | -2.4% | ||
| Net flow from AM internal distribution channels | 0.4 | -0.7 | -1.3 | ||
| AuM volume at beginning of period - from AM internal disribution channels | 130.1 | 128.1 | 161.2 | ||
| Annualised net flow AM internal distribution | 1.1% | -2.0% | -3.2% | ||
| Net flow from AM external distribution reach | -3.4 | -3.0 | -2.1 | ||
| AuM volume at beginning of period - from AM external distribution reach | 108.6 | 109.2 | 131.3 | ||
| Annualised net flow AM external distribution | -12.4% | -11.1% | -6.3% | ||
| Volumes | |||||
| Aum | 362.4 | 358.9 | 1% | 389.4 | -7% |
| Total Lending | 11.7 | 11.9 | -2% | 11.7 | 0% |
| Total Deposits | 12.3 | 13.3 | -8% | 11.7 | 5% |
| Volumes (local curr.) | |||||
| Aum | 362.4 | 358.9 | 1% | 389.4 | -7% |
| Total Lending | 12.0 | 12.0 | 0% | 11.5 | 4% |
| Total Deposits | 12.6 | 13.4 | -6% | 11.4 | 11% |
| Cont. Asset & Wealth Management total | Q1 | Q4 | Change | Q1 | Change |
| Net commission income, EURm | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 |
| PB Denmark | 41 | 43 | -5% | 46 | -11% |
| PB Finland | 38 | 37 | 3% | 40 | -5% |
| PB Norway | 11 | 11 | 0% | 13 | -15% |
| PB Sweden | 28 | 27 | 4% | 31 | -10% |
| Asset Management | 116 | 127 | -9% | 131 | -11% |
| Other | 12 | 10 | 20% | 4 | 200% |
| Asset and Wealth Management total | 246 | 255 | -4% | 265 | -7% |
| Private Banking Specification | |||||
| AuM, EURbn | |||||
| PB Denmark | 32.8 | 31.9 | 3% | 33.7 | -2% |
| PB Finland | 35.9 | 35.7 | 1% | 37.9 | -5% |
| PB Norway | 9.9 | 10.3 | -4% | 11.0 | -10% |
| PB Sweden | 30.5 | 29.6 | 3% | 32.9 | -7% |
| Private Banking | 109.1 | 107.5 | 2% | 115.4 | -5% |
| Lending, EURbn | |||||
| PB Denmark | 4.3 | 4.3 | 0% | 4.1 | 5% |
| PB Finland | 2.7 | 2.8 | -4% | 2.7 | 0% |
| PB Norway | 1.8 | 1.9 | -5% | 1.9 | -5% |
| PB Sweden | 2.9 | 2.9 | 0% | 3.0 | -3% |
| Private Banking | 11.7 | 11.9 | -2% | 11.7 | 0% |
| Asset Management | |||||
| Q1 | Q4 | Change | Q1 | Change | |
| EURbn | 2023 | 2022 | Q1/Q4 | 2022 | Q1/Q1 |
| AuM, internal channels | 134.0 | 130.1 | 3% | 148.2 | -10% |
| AuM, external channels | 106.7 | 108.6 | -2% | 124.8 | -15% |
| AuM, total | 240.7 | 238.7 | 1% | 273.0 | -12% |
| - whereof ESG AuM | 159.9 | 157.4 | 2% | 164.7 | -3% |
| Net inflow, internal channels | 0.4 | -0.7 | -157% | -1.3 | -129% |
| Net inflow, external channels | -3.4 | -3.0 | 11% | -2.1 | 62% |
| Net inflow, total | -3.0 | -3.7 | -19% | -3.4 | -11% |
| - whereof ESG AuM | -0.2 | -1.7 | -87% | -1.9 | -88% |
&"Nordea Sans Large,Regular"&K00-022APM Nordea Group First Quarter 2018
&1#&"Calibri"&10&K000000Confidential &P (&N)