Nordea Bank (NDA-SE) AGM 2025 summary

Opening remarks and agenda

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

• The meeting was attended by representatives from the European Central Bank and Finnish Financial Supervisory Authority, highlighting regulatory oversight.

• Voting was conducted electronically, with over 4,500 shareholders representing 59.2% of shares and votes present.

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

Financial performance review

• 2024 saw a 3% increase in total income to EUR 12.1 billion and operating profit to EUR 6.5 billion.

• Return on equity reached 16.7%, exceeding the 15% target for the second consecutive year.

• Mortgage lending grew 6% year-on-year, retail deposits up 5-6%, and assets under management increased by up to 11%.

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

• CET1 ratio stood at 15.8%, 2.2 percentage points above regulatory requirement.

Board and executive committee updates

• No changes proposed to the board composition; all current members stood for re-election and were re-elected.

• The board's remuneration was proposed to increase by approximately 3%, with higher adjustments for the chair and vice chair.

• Employee-elected board members were also presented and confirmed.

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