Outlook and Financial targets

Outlook

Capital policy

A management buffer of 150-200 bps above the regulatory CET1 requirement, from 1 January 2021.

Costs

Total costs for 2021 are expected to be below EUR 4.6bn (unchanged).

(Last updated 29 April 2021)

Financial targets 2022

50%

Cost / income ratio in FY22

>10%

Return on equity in FY22

Dividend policy  

Nordea’s dividend policy stipulates a dividend payout ratio of 60-70%, applicable to profit generated from 1 January 2021. Nordea will continuously assess the opportunity to use share buy-backs as a tool to distribute excess capital.