Our investment case

We are the largest bank in the Nordics with a 200-year history of supporting and growing the Nordic economies.

Nordea is listed at the stock exchanges in Helsinki, Stockholm and Copenhagen and we have around 560,000 private shareholders.

Below you can find some of the key reasons why you should consider being one of them.

1. We generate market-leading shareholder returns


We have paid out 6 billion euros in dividends over the past three years – and were one of the first banks in Europe to start implementing share buy-backs in 2021.


Total shareholder return in the last 4 years


2. We operate in a structurally attractive Nordic banking environment


Our operating environment:

  • Nordic GDP growth is steady and above euro area average

  • Nordic unemployment rates are lower than euro area average, with significant social safety nets

  • Nordic countries are highly digitalised in global context​

  • Nordic banking market is stable, safe and profitable with high returns, driven by cost efficiency and low loan losses

GDP growth rate

Unemployment rate


Nordic societies rank global top ten in:

Social safety nets

  1. Denmark
  2. Finland
  3. Norway
  4. Austria
  5. Luxembourg
  6. Switzerland
  7. Netherlands
  8. Spain
  9. Sweden
  10. France

Source: WEF Global Competitiveness Report special edition 2020

Digital transformation readiness

  1. Denmark
  2. Korea Rep.
  3. USA
  4. Sweden
  5. Netherlands
  6. Finland
  7. Switzerland
  8. Taiwan
  9. Norway
  10. Singapore

Source: IMD digital competitiveness ranking 2022

Sustainable development goals index

  1. Finland
  2. Denmark
  3. Sweden
  4. Norway
  5. Austria
  6. Germany
  7. France
  8. Switzerland
  9. Ireland
  10. Estonia

Source: WEF Sustainable Development Report 2022


3. We are the largest financial services group in Nordics with low earnings volatility and unique growth opportunities within our four business areas


"Our quarterly operating profit volatility has decreased significantly – after already being historically low compared with the European banking sector average."


Frank Vang-Jensen, Nordea's Group President & CEO

Our position in the Nordics:

#1 Personal Banking

#1 Business Banking

#1-2 Large Corporates & Institutions

#1 Asset & Wealth Management

Primary levers to drive profitability improvements

  • Accelerate savings growth

  • Allocate more capital to profitable lending growth

  • Increase operational efficiency

  • Reduce low-yielding economic capital


Our growth in recent years:

Net interest income


2022 vs 2021



2022 vs 2021

Corporate lending


2022 vs 2021


4. We are a globally leading digital bank supporting great customer experiences


Best performer

D-rating - 2021 Digital Proposition among following Nordic banks: Danske Bank, Handelsbanken, SEB, Swedbank.

#1 mobile bank in the Nordics

According to AppStore ratings.

Growth in digital engagement

Logins to digital channels (millions/month)

Our 2025 digital targets:

~1 million more

digitally active customers (+25% vs 2021e)

Full self-service

for daily banking (vs ~50% of features available in 2021)

All relevant products

available in “one shop” (vs ~50% of retail and SME products available in 2021)

5. Sustainability is at the core of our strategy


Our climate action objectives:


emissions by 2050 at latest


reduction in emissions across investment and lending portfolios by 2030.


reduction in emissions from internal operations by 2030.

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