Uutiset
16 May 2013 | From the capital of Italy to the capital of Nordea
After a few relaxing days in Rome, watching tennis, eating pasta and walking almost 60km to see all the things you must see in the ‘Eternal City’, it’s time to get back to work.
I have received some questions on how we will be affected by the rate cut in April, and the answer is; rather limited. This rate cut from the ECB was widely anticipated and therefore we were well positioned for this.
We have also updated our Debt presentation which includes a few new slides with interesting data about our asset encumbrance. Download the presentation here
.
We have recently spent a few days meeting investors in London and Edinburgh. The themes are very much the same in all the meetings right now: ‘how do we see top-line evolving going forward’, ‘will we continue to keep costs flat’, ‘how do we view the loan loss situation and ‘how do we expect our Core Tier 1 ratio to develop going forward’?
It is quite clear that the biggest uncertainty from investors relates to the capital situation, especially how we will be affected on CRD IV (which most likely will be implemented at year-end) and how our RWA’s will be affected by model approvals.
On the first question, we expect a reduction of Core Tier 1 ratio by approximately 110 bps. On the second question, we still expect to get an approval for the biggest roll-out, the Advanced IRB for the corporate book within this quarter. Then we have some smaller roll-outs were we expect to get the approvals in the later part of this year. The bottom line is that we still expect to have a Core Tier 1 ratio of above 13% with a fully loaded Basel III balance sheet.
I will end this week, mostly meeting investors and analysts, but also by watching the Quarter-Final in the Ice Hockey World Championships where I expect Sweden to send home Canada from the tournament (yes, I believe in miracles!).
Next week I will back in the skies heading to San Francisco for the Credit Suisse Equity Conference. The upcoming weeks will be busy too with Nordea presenting at the Sampo Capital Markets Day in London, the Deutsche Bank Global Financial Services Conference in New York and at the Goldman Sachs Annual European Financials Conference in Brussels, followed by roadshows to Paris and Geneva.
Rodney Alfvén, Head of Investor Relations
24 April 2013 | Delivery day
Today we release our result for Q1/13. As always it is a very hectic day; we release the report at 7am, host a press conference at 9.30am, an investor lunch at 12.30pm, an international telephone conference at 2.30pm before flying to London. We end the day with an investor dinner in the West End. This is then followed by a full day of meetings on Thursday, where we meet investors, discuss the results, trends in the market and how we view the future.
In the Q1/13 report we focus a lot on our delivery on the financial plan which we presented at the capital markets day in London last month. Although the macro environment has been somewhat challenging, with low interest rates and low activity level, our initiatives on income, costs and capital have had a clearly positive impact on the result. Our results, adjusted for one-off related items, have actually improved by 8% compared to previous quarter. This is coming from repricing of lending, efficiency initiatives and more than 20,000 new customers to the bank.
We are also pleased to see that we have further strengthened our balance sheet, despite negative effects from regulatory changes. As capital is a scarce resource in the New Normal, we work hard to find more capital efficient solutions for our customers. So, as an example, 82% of all our premiums sold, are capital light products.
May I also take the opportunity to invite you to follow Nordea Investor Relations on Twitter. Our account is @Nordea_IR.
Rodney Alfvén, Head of Investor Relations
22 March 2013 | A challenging and interesting week
On Monday and Thursday evenings I was in Gothenburg and Malmö to meet with Nordea’s Retail Banking organisation together with Hans Jacobson, Head of Banking Sweden and a few others.
It was very inspiring to meet them and to hear testimonies about good customer experiences, as well as how they are out in schools teaching local children about personal economy. Those meetings make me proud and further convince me that the best way to create shareholder value is to have committed employees, who create value for our customers.
In between those two events, I was in London with Nordea’s CEO Christian Clausen at the Morgan Stanley European Financials Conference. We met with approximately 35 investors in individual meetings and over 30 investors over dinner. Additionally, Christian made a presentation to around 150 investors. It is obvious that investors are currently focusing on two things: “When will the Swedish government sell its 13.5% stake in Nordea?” and “How will our capital position develop?”
When it comes to the government stake, we have really nothing to add, as this is up for the Swedish government to decide upon. However, we now have a mandate to buy back up to 10% of the shares, so if the government decides to sell on the market, we can now buy on the market.
When it comes to the capital, we have disclosed that our risk-weighted assets will be largely unchanged between now and end of 2015, which means that our capital-needs will be very limited in the coming years, enabling Nordea to distribute a very large part of our profits to shareholders in the coming years. An important part of this plan is our roll-outs, which will have a positive effect on our risk-weighted assets. The most important roll-out is for our corporate book and there we expect to get the approval during the first half of 2013.
Rodney Alfvén, Head of Investor Relations
05 March 2013 | Ready for the Capital Markets Day
Nordea will host a Capital Markets Day in London tomorrow (Wednesday 6th March). During 4 hours we will present our strategy, financials, credit quality and our three business areas. There will also be time to ask questions to our Group Executive Management.
We are keen that analysts and investors have a thorough understanding of our Group in terms of current and future performance but also some key characteristics of Nordea; our unique position in the Nordics, our superior customer franchise, and our diversification that delivers stable earnings, good credit quality and solid growth over time. We have produced some 125 slides that were finalised early this morning, and now we are at the venue in London and completing the preparations for tomorrow.
Our aim with tomorrow’s event is that the market will have a better understanding about our cost and revenue performance, development in credit quality, capital and profit and our capital distribution capacity in the next three years. We also aim to deepen the understanding of how the business areas will contribute to the Group performance.
You are most welcome to follow the presentations at Nordea.com between 10am and 2pm CET.
The Capital Markets Day will be followed by a roadshow to Boston and New York where we will meet our US investors in individual or smaller group meetings.
Rodney Alfvén, Head of Investor Relations
11 February 2013 | Report day
Today we publish three very important reports; the Annual Report 2012, the Capital and Risk Management (Pillar III) Report 2012 and our CSR Report 2012. All in all, it’s 346 pages of useful and juicy information about Nordea.
Our Annual Report 2012
is a 216 page description of everything you need to know about the financials of Nordea, but it also includes a comprehensive description about our business model, strategy and our customers. In the description of the business areas we have included interviews with some of our customers, in order to include some more flesh and blood in the report.
Our Pillar III Report 2012 describes the governance of our risk and capital management, obviously a key area for any bank, and perhaps even more for a AA-rated bank like Nordea. In this report you will get a very detailed description about our risks, from a credit, market and operations perspective, but also from a liquidity and funding perspective, as well as our life operation. In addition you will find info about our capital position.
Our CSR Report 2012 (Corporate Social Responsibility) describes our thinking and actions within this area of increasing importance, both from a customer and shareholder perspective, given our role as a corporate citizen and our role to provide long-term stability. In this report you will learn more about our new sustainability policy, our corporate governance and how we reduce our eco footprint. An interesting observation is that 31% of Nordea’s shares are owned by responsible investors.
Rodney Alfvén, Head of Investor Relations
04 February 2013 | A hectic reporting week is over
Last week was very hectic. On Monday and Tuesday we put the final touches to our full year report. On Wednesday at 7 am it was published and then we held press, analyst and telephone conferences before leaving for London. I spent 16 hours in London, 16 hours in New York and 16 hours in the air before the weekend. In London there were eight of us presenting the report to investors, and in New York the CEO Christian Clausen and I did the honours. All in all, we met with 56 investors.
It is inspiring to meet international investors following the publication of an interim report. As there were few surprises in the report, the meetings focused on our business model, and how our diversification can generate high and stable returns over time.
We talked about our new capital policy and how cost and capital efficiency, expressed in our new financial plan, will enable us to distribute significant amounts of capital to shareholders over the coming years. We also discussed how we expect margins, volumes and credit quality to develop.
Today marks the start of a new week. The preparations for our Capital Markets Day, which will be held in London on 6 March, are in full swing. At the Capital Markets Day we will make a comprehensive presentation of the Group's strategy, financial plan, credit quality and the three business areas. Then we will continue to the US to meet investors. Invitations will be sent out soon.
Rodney Alfvén, Head of Investor Relations
30 January 2013 | Head of Investor Relations on the Q4/12 results
Read Rodney Alfvén's comments on the Q4/12 results in the newly launched Investor Relations blog.
The Fourth Quarter and Full Year Report 2012 is available here.
28 January 2013 | Restated Retail Banking figures prior to Q4/2012
In advance of the forthcoming publication of the Fourth Quarter and Full Year Report 2012, you are invited to download restated Retail Banking figures. 
18 January 2013 | Reminder: Fourth Quarter and Full Year Results
Nordea’s Fourth Quarter and Full Year Results for 2012 will be presented on Wednesday 30th January 2013. The result material will be online just after 07.00 CET and the presentations will be streamed live on nordea.com.
Please note that there is a change to the normal presentation schedule this quarter. The analyst presentation, which normally follows directly after the press conference, will now be held at 12.00 CET.
Read the press release for full details
28 November 2012 | Nordea awarded Bank of the Year in Western Europe
Nordea has been named Bank of the Year among the leading European banks for 2012 by 'The Banker' owned by the Financial Times. Nordea is the first-ever Nordic winner of the award.
24 October 2012 | Third Quarter Report 2012 published
New Normal plan delivers on cost, capital and income
CEO Christian Clausen’s comment to the report:
"65,000 new household relationship customers and a further strengthening of relations with corporate customers have led to the highest ever income and operating profit in the first nine months of a year, despite the low interest rates.
We continue to increase efficiency in line with our New Normal plan. Expenses remained flat and the core tier 1 capital ratio increased to 12.2%. We are fully compliant with liquidity requirements and have excellent access to the international funding markets. Income was lower than last quarter, but has never before been this high in a third quarter. For the first three quarters of the year, income increased by 10% and operating profit by 14%."
Download the full report
View the supplementary information
9 October 2012 | Information about the third quarter report 2012
Nordea’s third quarter report 2012 will be presented on Wednesday 24 October 2012. The results will be online just after 07.00 CET and the presentations will be streamed live on nordea.com.
See the Q3 2012 press release for all the details
27 September 2012 | Annual General Meeting 2013
The date for Nordea's AGM in 2013 will be Thursday 14th March. More information about the event will follow over the coming months.
19 September 2012 | New presentations added
September is a busy month for Nordea IR with participation in many large conferences and events.
On the 10th, CFO Fredrik Rystedt spoke at the Handelsbanken Nordic Large Cap Seminar in Stockholm and on the 19th there were two conferences. Head of Group Treasury Niklas Ekwall spoke at the KBW European Financials Conference in London, while the Head of Group Capital and Risk Modelling, Louise Lindgren was at the UBS Nordic Financial Services Conference in Stockholm.
29 August 2012 | Nordea Hypotek publish half-year reports
Nordea Hypotek AB have published half-year reports in both Swedish and English. They can be downloaded below.
04 September 2012 | New Economic Outlook report
Nordea Markets have released their latest Economic Outlook report entitled 'Slow speed ahead'.
Despite the Euro area being on the brink of recession, and activity in the US and the rest of the global economy slowing over the summer, Nordea Markets believe that better times are ahead - although the uncertainty is still high.
Read more on nordeamarkets.com
29 August 2012 | Nordea Hypotek publish half-year reports
Nordea Hypotek AB have published half-year reports in both Swedish and English. They can be downloaded below.
18 July 2012 | Second Quarter Report 2012 published
Strong income and solid cost control
CEO Christian Clausen’s comment to the report:
"We maintained good business momentum and increased return on equity despite continued pressure on interest rates, financial turmoil and the slowdown in European economic activity.
We have continued to make progress in building the future bank. The execution of our New Normal plan has led to more business and growing income, while costs have remained stable and efficiency in capital, liquidity and funding has increased.
By taking early action, Nordea has maintained a strong rating and thus been able to continue to support customers in developing their family finances or corporate businesses. This is our most important contribution to growth and development in the societies where we operate."
Download the full report in English
View the supplementary information in English
The report in other languages: Danish | Finnish | Norwegian | Swedish
07 June 2012 | New Economic Outlook report
Nordea Markets have released their latest Economic Outlook report.
In the analysis, Nordea reiterates the forecast for global economic growth in 2012, while lowering the forecast for 2013. The report also shows that the Nordic economies remain strong compared to the rest of Europe.
Read the entire report on nordeamarkets.com
01 June 2012 | Second Quarter Report published on 18th July
Nordea will present results for the second quarter on 18th July.
The report and supplementary material will be available on online from around 07.00 CET.
A press release with further details will be sent out in advance of publication.
24 April 2012 | First Quarter Report 2012 published
High earnings power and further progress in change agenda
CEO Christian Clausen’s comment to the report:
"Nordea’s strong business momentum continues. We welcomed 22,000 new relationship customers from outside the bank, our new apps more than doubled the number of active mobile bank customers and we strengthened our market-leading position with the largest corporates in the Nordic countries.
Profitability is maintained at a high level, with ROE close to 12%. It is encouraging to see our earnings power despite low interest rates, slow growth and the comprehensive change agenda we are pursuing to build the future bank business model.
Costs are kept under strict control and we have continued to build a stronger capital position and balance sheet. In the quarter, our core tier 1 capital ratio increased by 0.4 %-point to 11.6%."
Download the full report
View the supplementary information
20 April 2012 | Restated business area figures prior to Q1/2012
In advance of the forthcoming publication of the First Quarter Report 2012, you are invited to download restated business area figures.
11 April 2012 | Nordea recognised with two awards
Nordea are pleased to announce that they have been chosen for awards by two finance publications - as "Best Debt Bank in the Nordic region" and "Best Arranger of Nordic Loans 2011".
Global Finance each year appoints the world’s best investment banks in different categories. This year, in the category “Debt banks”, Global Finance awarded Nordea as the best debt bank in the Nordic Region. The editors of the magazine, with input from industry experts, used a series of criteria—including market share, number and size of deals, service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, after-market performance of underwritings and market reputation—to select the winners. Deals announced or completed in 2011 were considered.
Euroweek pronounced Nordea the “Best arranger of Nordic loans 2011” in their yearly Syndication Loans & Leveraged Finance awards. This award is decided by the market participants themselves, and the results are based solely on a poll of investors, borrowers, private equity houses and banks working in the market and which was carried out in November 2011.
