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Nordea Bank AB (NDA.ST)

NDA.ST on Stockholm Stock Exchange

28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

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 Bank AB appoints Heikki Ilkka as new Chief Financial Officer
Wednesday, 9 Dec 2015 08:30am EST 

Nordea Bank AB:Appoints new group CFO and member of group executive management.Says Heikki Ilkka, head of group finance & business control in Nordea, is appointed new group Chief Financial Officer.Heikki also becomes a member of Group Executive Management (GEM) and will report to Group CEO Casper von Koskull.The changes take effect as of Jan. 1, 2016.  Full Article

Nordea Bank AB to sell merchant acquiring business to Nets for 230 million euros
Monday, 15 Jun 2015 03:00am EDT 

Nordea Bank AB:Nordea to divest merchant acquiring business to Nets.Nordea says business is sold for a price of 230 million euros on an enterprise value basis.Nordea's capital gain after tax on transaction will be about 175 million euros to be recognised under 'Other operating income' upon closing of the transaction.  Full Article

Nordea Bank sets financial targets for FY 2016-2018 including dividend payout ratio
Wednesday, 27 May 2015 02:45am EDT 

Nordea Bank AB:Sets financial targets for FY 2016-2018.Says to have dividend payout ratio of at least 75 pct.Says to have return on equity (roe) above the nordic peer average.Says to have less than 1 pct average annual cost increase.Says risk exposure amount (rea) to be largely unchanged.Says to have a capital policy that states that the cet1 capital ratio should include a management buffer of 50-150 bps above the regulatory requirement.Says this is in total expected to imply an annual total dividend growth (cagr) of more than 10 pct.  Full Article

More From Around the Web

Nordea's Norwegian mortgage lending slows as tighter regulation kicks in

* Snorre Storset, Chief Executive of Nordea's Norwegian unit, says the bank has seen lower demand for mortgages in the first quarter due to tighter public regulations and slower growth in housing prices