CEO comment: Customer satisfaction, digital services and sustainability in focus

CEO Casper von Koskull at press meeting in Nordea's Vallila headquarter.
18-10-24 11:24 | About Nordea

For three consecutive quarters, Nordea has seen customer satisfaction improve in Sweden with considerable improvements in the last two quarters. In Norway, Denmark and Finland the turnaround took place as a stepwise improvement during 2017, while 2018 has been a year of consolidation and small steps forward.

At this year’s PayTech Awards ceremony in London, Nordea Wallet was named ‘Best Mobile Payments Initiative’, while Open Banking enjoyed further success, winning ‘IT Team of the Year’. Winning a PayTech Award proves the value of Nordea’s technology investments and showcases our skills, commitment, creativity and excellent execution for the benefit of our customers. Nordea’s Open Banking platform was launched at the end of 2017 when Finnish customer data was made available to third-party developers.

Since the launch of Open Banking, more than 2,500 developers have registered to test Nordea’s application programming interface. By moving forward with Sweden during this quarter, we are maintaining our position as a frontrunner in Open Banking and are the first bank to open up two countries in the Nordics on this scale.

As an essential initiative, Nordea aims to take a leadership position within sustainable finance, enabling our customers to transition to a sustainable future. Nordea recently hosted the Nordic Sustainable Finance Conference for a second year in a row. The demand for sustainable finance solutions is growing rapidly, both among our corporate customers and our investors. Nordea strongly supports this major shift by engaging actively to ensure that there is a market for these solutions, and that capital is allocated to them.

Nordea has acted in several areas, strengthening our impact on sustainable finance. Nordea Life & Pensions (NLP) has decided to improve the environmental profile of all its pension products and has already cut the carbon footprint of its traditionally managed equity portfolio by 70%. We expect that this portfolio will outperform its peers, as companies that are leaders in sustainability will outperform the laggards. More green pension products are to be launched in 2019. Nordea is one of the first banks in Europe to implement a green loan product. Our pipeline of green corporate loans is strong, and we expect volumes to pick up fast. Furthermore, in September we launched a green mortgage for our personal customers in Sweden - a discounted mortgage for all customers living in climate-smart homes.

For the first time, Nordea is both the leading advisor in Merger & Acquisitions and the number one bank for Equity Capital Markets transactions in the Nordic region year to date. Nordea also remains the leader on Debt Capital Markets transaction with leading position in both corporate bonds and syndicated loans in the Nordics. On 13 September Nordea and DNB announced that Blackstone will acquire 60% of all shares in Luminor and over the coming years, Nordea will sell its remaining 20% shares to Blackstone. On 15 October, the divestment of our Luxembourg-based private banking business was finalised.

This quarter was a historic quarter for Nordea, as we finalised our re-domiciliation into the Banking Union and Finland. This move is part of Nordea’s overall strategic direction, enabling us to operate in an environment that offers stability, predictability and a level playing field. I can say that Nordea is now repositioned to be a truly Nordicfocused bank with a very clear and simple structure, a recordstrong balance sheet, enabling us to be an even better bank for our customers while at the same time structurally bringing down costs and increasing efficiency.

Casper von Koskull
CEO

You can read more about the result in Nordea's third-quarter earnings report and watch Casper von Koskull talk about our new robo adviser Nora in the video below.

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