Latest interim results

Watch the Q4 investor webcast held on 2 February 2023

Frank Vang-Jensen, President and Group CEO, presented the results followed by a Q&A audio session for investors and analysts with Frank Vang-Jensen, Ian Smith, Group CFO, and Matti Ahokas, Head of Investor Relations.

Watch the webcast

Frank Vang-Jensen, Nordea’s group CEO on the fourth quarter and full year results

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Fourth-quarter and full year 2022 highlights:

Strong corporate lending driving continued growth in business volumes

  • Corporate lending up 9% y/y and mortgage volumes up 3% y/y. Assets under management up 5% q/q

Income and operating profit growth

  • Net interest income up 31%, net fee and commission income down 12% and net fair value result up 69%
  • Operating profit up 26% to EUR 1,609m

Cost-to-income ratio* improved to 45% – 42% excluding regulatory fees

Strong credit quality with low net loan losses – management judgement buffer increased by EUR 20m to EUR 585m

  • Net loan losses and similar net result amounting to EUR 59m or 7bp during quarter – low realised losses

Return on equity* 15.9% and earnings per share up 31% to EUR 0.34

Dividend of EUR 0.80 per share proposed for 2022 – up 16% compared with 2021

  • CET1 ratio increased to 16.4% – 5.3pp above regulatory requirement

2023 outlook: return on equity above 13%