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Nordea completes inaugural share buy-back programme

Stock exchange releases | 07-03-2022 13:50

Nordea Bank Abp
Stock exchange release – Other information disclosed according to the rules of the Exchange
7 March 2022 at 14.50 EET

Nordea Bank Abp has now completed its inaugural share buy-back programme. The repurchases of shares began on 22 October 2021 and ended on 4 March 2022. During that period, Nordea repurchased 189,634,586 of its own shares (FI4000297767) at an average price per share of EUR 10.50. Nordea expects the Board of Directors to consider a follow-on share buy-back programme of up to EUR 1.0bn in the coming weeks.

On 20 October 2021, Nordea announced share buy-backs of up to a maximum of EUR 2.0bn based on the authorisation granted by Nordea’s Annual General Meeting on 24 March 2021. The shares were repurchased otherwise than in proportion to the existing shareholdings of the company’s shareholders (directed repurchases) in public trading and outside public trading. The purpose of the share buy-backs was to pursue an efficient capital structure and generate sustainable shareholder return to the benefit of all shareholders by reducing the capital of Nordea.

The repurchase of own shares has reduced the company's unrestricted equity by EUR 1,997m and the repurchased shares have been cancelled on a monthly basis. Nordea now holds 32,665,816 treasury shares for capital optimisation purposes and 7,112,244 treasury shares for remuneration purposes.

As announced on 8 February 2022, Nordea’s application to further repurchase up to EUR 1.0bn of its own shares has been approved by the European Central Bank. Nordea expects the Board of Directors to consider a follow-on share buy-back programme of up to EUR 1.0bn in the coming weeks.

For further information

Matti Ahokas, Head of Investor Relations, +358 9 5300 8011
Group Communication, +358 10 416 8023 or press [at] nordea.com

The information provided in this stock exchange release was submitted for publication, through the agency of the contact persons set out above, at 14.50 EET on 7 March 2022.

Nordea is a leading Nordic universal bank. We are helping our customers realise their dreams and aspirations – and we have done that for 200 years. We want to make a real difference for our customers and the communities where we operate – by being a strong and personal financial partner. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges. Read more about us on nordea.com.