Creating value for the future

Nordea has entered a new strategy period, 2022–25, and I’m proud to say that we have done so from a position of strength.

In recent years we have made good progress, together with our customers. We have focused on delivering great customer experiences and continuously developing our services. At the same time, we have improved our financial performance.

Our financial target for 2025 is a return on equity above 13%, which will be supported by a cost-to-income ratio of 45–47%. Our focus is on growth and profitability, and we are committed to delivering.

We have set three key priorities for the next chapter in Nordea’s development: to create the best omnichannel customer experience, drive focused and profitable growth, and increase operational and capital efficiency.

For us, the omnichannel approach means delivering great customer experiences, both digitally and in person, with a firm focus on expert advice and customer support. It’s the way we keep customers at the centre of everything we do.

Our investments will focus on organic growth and on our key capabilities in areas such as digitalisation, data and sales and service capabilities. We will continue to optimise our business portfolio and manage our capital base efficiently to pursue capital excellence.

We also have two key levers supporting our strategy across the bank – being a digital leader among our peers and integrating sustainability into the core of our business.

Our 2025 target is to have at least 25% more digitally active customers. We will invest further in digital leadership and are developing full self-service functionalities for daily banking needs and new services for our corporate customers.

Sustainability is at the core of our strategy. We are committed to becoming a bank with net-zero emissions by 2050 and, as part of our step-by-step approach, we have set new sustainability targets for 2025. Over the coming years, we will capture sustainable growth opportunities while ensuring we grow our business in a way that is consistent with our targets.

By delivering on our plan, we aim to fulfil our vision – to be the preferred partner for customers in need of a broad range of financial services – driving for a sustainable future.

Our direction as a bank is not going to change. We act today to create value for the future – for our customers, employees, shareholders and broader society. We will ensure that Nordea is well equipped for the long term, including beyond 2025.

/Frank Vang-Jensen, President and Group CEO