CEO blog: Nordea enters a new phase

President and Group CEO Frank Vang-Jensen.
19-10-25 14:06 | About Nordea

"On my first day as CEO of Nordea, I said we will leave no stone unturned to improve our performance. I chose those words, because at Nordea we recognize, that our recent financial performance has not been where should be.

The current low interest rate environment is a challenge for the entire banking sector. We are competing in a market, where bank’s income is under constant pressure. This also looks to be the case for any foreseeable future.

I am convinced, that we can tackle these challenges by keeping our focus on our customers and by improving our operational efficiency. We need to be faster, simpler, and more efficient in everything we do.

At Nordea we have already carried out several initiatives to achieve this, but at the same time, we have missed some of the key targets we set for ourselves. That is why we are now taking extra steps to secure our long-term success.

This week we announced our new financial targets for the next three years and new strategic priorities. We set clear targets to balance our cost and income ratio and improve profitability. As a consequence of our new plan we booked several one-time costs that had a negative impact on our latest quarterly result. Like I said, we are leaving no stone unturned.

We will have to make difficult decisions, and I assure you, they will not be taken lightly. Unfortunately, this also means that we will have to be fewer people working at Nordea. We are committed to taking care of the people affected by these changes.

Our long-term success will depend on our ability to create great customer experiences.  We want to become strong and personal financial partner for all our stakeholders. Our customers can count on us to be with them.

Nordea is now entering a new phase of consistency, accountability and delivering on our targets. We are building on a strong foundation and the way forward is clear."

/President and Group CEO Frank Vang-Jensen

Read more news

Showing 5 of 737 results

Customer demand drives corporate sustainability

Press release

the strongest driving force behind more sustainable businesses in the Nordics is customer demand followed by brand value and regulations.

Slush

Nordea brings startups and investors together through speed dating at Slush 2019

About Nordea Businesses

Nordea Startup & Growth unit arranges speed dating and a pre-night for fintech pitches at Slush 2019

Social entrepreneurs in the Nordics are supported to tackle climate challenges

About Nordea

Nordea, Accenture and Ashoka are now jointly launching Changemakers Accelerator – a programme that will support climate initiatives in the Nordics.

Ylva Hannestad and Anders Langworth

Looking back at a green year for Nordea’s sustainability

About Nordea Sustainability

We summarize this year's accomplishments in the sustainability area.

Global Finance Best Private Bank award 2020 logo

Nordea named Best Private Bank in Norway and Sweden

Awards

Global Finance magazine names Nordea best private bank in Norway and Sweden

Showing 5 of 737 results