Nordea Bank (NDA-SE) AGM 2025 summary

Opening remarks and agenda

• The meeting was held in Helsinki with online participation, offering simultaneous translation in Swedish, Finnish, and English, and included a Q&A session for shareholders both in-person and online.

• Representatives from the European Central Bank and Finnish Financial Supervisory Authority attended as observers.

• Meeting opened with formalities including election of minute scrutineers, vote supervisors, and confirmation of meeting legality and attendance.

• The agenda included financial performance, board elections, remuneration, sustainability, and shareholder proposals.

Financial performance review

• 2024 saw income growth of 3% to EUR 12.1 billion and operating profit up 3% to EUR 6.5 billion, with return on equity at 16.7%.

• Net interest income rose 2%, net fee and commission income increased 5%, and EPS was EUR 1.44.

• Deposit volumes rose 6%, mortgage lending grew 6%, and assets under management reached EUR 422 billion.

• Cost-to-income ratio was 44.1% (43.1% excluding regulatory fees); net loan losses remained low at EUR 206 million.

• The auditor issued a clean opinion on both financial and sustainability reports.

Board and executive committee updates

• All ten current board members, including the Chair, were proposed and re-elected, with no changes to the board's composition.

• The Shareholders' Nomination Board proposed a 3% increase in board remuneration and re-election of the current 10 board members.

• Employee-elected board members were also presented.

• Sir Stephen Hester chaired the meeting; Frank Vang-Jensen, President & CEO, presented the annual accounts and review.