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Nordea Bank AB (NDA.CO)

NDA.CO on Copenhagen Stock Exchange

20 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Nordea CEO says re-location to affect "limited number" of staff
Wednesday, 6 Sep 2017 11:29am EDT 

Sept 6 (Reuters) - Nordea :Nordea CEO says number of staff that will be moved to Finland will be "a quite limited number".  Full Article

Nordea says cooperates with Danish authorities in money laundering probe
Tuesday, 15 Aug 2017 09:45am EDT 

Aug 15 (Reuters) - Nordea :Nordea comment on media enquiry about ongoing investigation by Danish Prosecution Service.Says our focus is to fully cooperate with prosecution service and we are committed to ensuring access to all relevant information.Says last week Nordea in Denmark as expected received a visit from representatives for the Danish Prosecution Service as they have now formally opened an investigation.  Full Article

Höegh LNG secures $230 mln debt financing for FSRU unit
Monday, 24 Jul 2017 02:43am EDT 

July 24 (Reuters) - Hoegh Lng Holdings Ltd ::Reg-Höegh lng : secures debt financing for fsru#8.Has received commitment letters for a usd 230 million debt financing for fsru#8 (floating storage and regasification units (.Facility comprises a 12 year export credit agency ("eca") term loan of up to usd 150 million backed by garantiinstituttet for eksportkreditt ("giek") and eksportkreditt of norway, and a 5 year non-amortising commercial bank loan of up to usd 80 million funded by ABN Amro bank, danske bank, nordea and swedbank.Facility is available to fund 65% of delivered cost of fsru with no employment requirement, increasing to 75% upon securing long-term employment.Hoegh lng: interest rate will be swapped from floating to fixed, and at current market conditions fixed interest rate is expected to be at around 4.1 pct.Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs).  Full Article

Nordea aims to merge with Scandinavian subsidiaries by early 2017
Thursday, 8 Dec 2016 09:15am EST 

Nordea Bank AB : says board of directors of nordea bank ab has decided to continue cross-border mergers between nordea and its subsidiary banks nordea bank danmark, nordea bank finland and nordea bank norge, respectively, with aim to complete mergers by early 2017 .All relevant approvals needed in order to execute the merger between Nordea Bank Finland and Nordea Bank AB have been obtained. The processes related to authority approvals in Denmark and Norway are ongoing and perceived as constructive.  Full Article

Swedish FSA says Nordea needs to hold more capital
Monday, 3 Oct 2016 08:10am EDT 

Sweden's Financial Supervisory Authority, on Nordea capital requirements: Swedish FSA says Nordea's probability of default estimate needs to be raised to an extent that corresponds to an additional own funds requirement of 13.8 billion Swedish crowns ($1.62 billion) (eur 1.47 billion), of which SEK 11.0 billion crowns shall consist of CET Tier 1 capital . Says Nordea investigation has not been concluded yet; to date Finansinspektionen has only sent a first verification letter to the bank outlining the government agency's preliminary assessments .Says until Nordea rectifies the identified deficiencies in its internal models, the bank must provide additional capital corresponding to the above amount as part of its Pillar II capital requirements.  Full Article

Gjensidige Forsikring issue NOK 1 bln bond
Monday, 29 Aug 2016 06:48am EDT 

Gjensidige Forsikring Asa : successful placement of restricted tier 1 bond issue . Today issued a perpetual restricted tier 1 bond amounting to nok 1,000 million with a coupon of 3m nibor + 3.60 percentage points p.a. and with a call option for issuer after five years . Bond fulfills regulatory requirements as tier 1 eligible capital under solvency ii and achieves intermediate equity content under s&p rating model .Dnb markets and nordea markets were advisors and managers for transaction.  Full Article

Nordea completes 8.4 bln EUR corporate and SME loan securitisation
Wednesday, 24 Aug 2016 07:30am EDT 

Nordea Bank Ab : Nordea Bank AB ("Nordea") has announced that it has entered into a synthetic risk transfer trade related to EUR 8.4bn of Nordea's loan portfolio . Under the transaction, investors have agreed to invest in notes linked to the junior credit risk of the portfolio . The selected portfolio consists of approximately EUR 8.4bn in corporate and SME loans from over 3,000 borrowers across Sweden and Denmark, spread across a wide range of industries and asset classes .No specific industry class was targeted for the transaction.  Full Article

Nordea Q2 operating profit tops forecast
Wednesday, 20 Jul 2016 01:00am EDT 

Nordea : Q2 net loan losses 127 million euros versus mean forecast 132 million in Reuters poll . Q2 net commission income 804 million euros versus mean forecast 800 million in Reuters poll . Q2 net interest income 1.17 billion euros versus mean forecast 1.18 billion forecast in Reuters poll .Q2 operating profit 1.22 billion euros versus mean forecast 1.16 billion in reuters poll.  Full Article

Swedish FSA says Nordea capital need overstated in report
Tuesday, 21 Jun 2016 02:20am EDT 

Nordea Bank AB : Swedish FSA says in its May 26 stability report assessed that Nordea as well as other major banks easily meet capital current requirements . FSA says, as previously announced, is evaluating the major Swedish banks' internal models and has made clear this will result in higher capital requirements . Swedish FSA says as can be currently assessed any need for additional capital at Nordea would be significantly lower than newspaper Svenska Dagbladet (SvD) reported . SvD, citing sources, reported an internal document at Sweden's financial watchdog shows Nordea underestimated risks in its corporate lending and could need as much as 80 billion Swedish crowns ($9.70 billion) in new capital .A spokesman at Nordea said the Nordic region's biggest bank had more than fulfilled capital requirements in the financial watchdog's latest assessment.  Full Article

Nordea Bank AB divestment of its merchant acquiring business to Nets completed
Thursday, 10 Dec 2015 10:14am EST 

Nordea Bank AB:Divestment of its merchant acquiring business to Nets completed.As previously communicated, the business was sold at a price of 230 million euros on an enterprise value basis.Nordea's capital gain after tax on the transaction is about175 million euros.The capital gain after tax consists of about 178 million euros recognised under.Other operating income and about 3 million euros accounted for under Income tax expense.  Full Article

Nordea plans to cut up to 54 jobs in Finland - union

HELSINKI, Oct 13 Nordic region's biggest bank Nordea plans to cut up to 54 jobs in Finland, white collar union Nousu said on Friday.