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Outlook
Capital policy
A management buffer of 150-200 bps above the regulatory CET1 requirement, from 1 January 2021.
Costs
New: Total costs for 2021 are expected to be below EUR 4.6bn.
Previous: In 2020 Nordea expects to reach a cost base of below EUR 4.7bn, with planned continued net cost reductions beyond 2020.
(Last updated 4 February 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.