CEO blog: Exceptional times require exceptional decisions

Frank Vang-Jensen, President and Group CEO.
20-03-22 22:05 | About Nordea | Frank Vang-Jensen

The outbreak of the coronavirus has affected all of us. We are asked to change our daily lives in ways we would not have imagined. The outbreak continues to shake the global economy and businesses are under intense pressure.

It is still far too early to assess the full impact of the outbreak, but we can be certain, that we’ll need each other’s support to get through this.

It’s times like these, that require us as a bank to be a safe and trusted partner to all of our customers. As the largest bank in the Nordics, we play a key role and have a special responsibility to keep our services available.

We will do everything we can to support our customers. As one of our actions, we are offering instalment-free periods on mortgages to personal and business customers in all Nordic countries. We can see already, that these actions were really needed. We are receiving the same number of applications per day that we usually receive per month. We listen to our customers’ needs and we will do all we can to help find solutions also in tough times.

Nordea is a very strong, well-capitalised bank with a strong liquidity capable of facing even the most turbulent times. We are prepared to do all we can to support you. I would also like to thank the European and Nordic decision-makers for taking quick actions. Together with the private sector, we really can support individuals and corporates in these tough times.

I urge our business customers to contact us right away, if they are expecting significant financial impacts on their operations due to the corona virus. We have several measures and instruments available to help strengthen working capital and liquidity.

We will all need to make important decisions in the coming months.

Like the rest of the world, we take the current situation very seriously and follow the authorities’ guidelines. Earlier in the week, we closed the doors of our Danish branches temporarily. In situations like this, our people will continue to meet and advice you on the phone or online. The safety of our customers and employees is our top priority, and we will take all available actions to keep them safe and do what we can to limit the spread of the virus.

We will continue to do our outmost to support you through the challenges caused by the corona outbreak. We are all in this together, let’s try to find solutions together.

Stay safe and healthy, stay calm and take care.

/Frank Vang-Jensen, President and Group CEO

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