CEO Casper von Koskull’s comments on the results:
“In 2017, volumes and margins were relatively stable, and business momentum was solid overall. At the end of 2017, we were negatively impacted by a very low activity level on capital markets. The planned de-risking of the bank, with reduced exposure to Russia, Shipping, Offshore & Oil Services, also reduced income levels.
After years of intense investments, things are happening now and we are entering the next stage on our transformation journey. Our digital investments result in
Full year 2017 vs. Full year 2016[1,2] (Fourth quarter 2017 vs. Fourth quarter 2016[1,2])
- Net interest income EUR 4,666m, -1%; -1% in local currencies (-8%, -6% in local currencies)
- Total operating income EUR 9,469m, -3%; -3% in local currencies (-14%, -13% in local currencies)
- Total expenses EUR 5,102m, +4%; +5% in local currencies (+3%, +4% in local currencies)
- Profit before loan losses[1,2] EUR 4,367m, -10%; -10% in local currencies (-32%, -30% in local currencies)
- Net loan losses EUR 369m, -26%; -26% in local currencies (-45%, -43% in local currencies)
- Operating profit[1,2] EUR 3,998m, -8%; -8% in local currencies (-30%, -29% in local currencies)
- Common Equity Tier 1 capital ratio 19.5%, up from 18.4% (up from 18.4%)
- Cost/income ratio[1,2] 54% up from 50% (up 10%-points from 51%)
- Loan loss ratio of 12 bps, down from 15 bps (down 7 bps from 16 bps)
- Return on equity[1,2] 9.5%, down from 11.5% (down 5.2%-points from 12.9%)
- Diluted EPS[1,2] EUR 0.75 vs. EUR 0.88 (EUR 0.15 vs. EUR 0.25)
Exchange rates used for Q4 2017 for income statement items are for DKK 7.4387, NOK 9.3317 and SEK 9.6378.
 Excl. items affecting comparability in Q2 2016: gain related to Visa Inc.’s acquisition of Visa Europe amounting to EUR 151m net of tax and Q4 2016: additional gain related to Visa of EUR 22m before tax.
 Excl. items affecting comparability in Q4 2016: gain in staff costs related to change in pension agreement in Norway of EUR 86m before tax.
 Incl. Loans to the public reported in Assets held for sale in Q3 2017.
For further information:
Casper von Koskull, President and Group CEO, +46 10 157 1020
Rodney Alfvén, Head of Investor Relations, +46 72 235 05 15
Torsten Hagen Jørgensen, Deputy CEO and Group COO, +45 5547 2200
Sara Helweg-Larsen, Head of Group Communications,+45 2214 0000
Latest interim results
The information in this press release is such, which Nordea Bank AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 07.00 CET on 25 January 2018.