Nordea Bank (NDA-SE) AGM 2025 summary

Opening remarks and agenda

• Meeting held in Helsinki on 20 March 2025, with online participation, simultaneous translation in Swedish, Finnish and English, and Q&A for onsite and online shareholders.

• 4,564 shareholders represented 2,058,051,586 shares and votes, 59.0% of the total; voting was electronic.

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

Financial performance review

• 2024 total income rose 3% to EUR 12.1bn; operating profit increased 3% to EUR 6.5bn.

• Return on equity was 16.7%, above the 15% target for a second consecutive year; EPS was EUR 1.44.

• Mortgage lending grew 6%; retail deposits rose 5%, while deposit volumes increased 6%.

• Assets under management reached EUR 422bn, up 11%, with EUR 8.1bn in net positive flows.

• CET1 ratio was 15.8%, 2.2 percentage points above the regulatory requirement; cost-to-income ratio was 44.1% and net loan losses EUR 206m.

Board and executive committee updates

• All ten directors were re-elected through the next AGM; Sir Stephen Hester was re-elected Chair and Lene Skole elected Vice Chair.

• Employee-elected directors were Joanna Koskinen, Gerhard Olsson and Jørgen Suo Lønnquist, with Kasper Skovgaard Pedersen as deputy.

• Board members and committee chairs were appointed to the Audit, Risk, Remuneration and People, and Operations and Sustainability committees.

• Annual Board remuneration set at EUR 400,000 for the Chair, EUR 180,000 for the Vice Chair and EUR 112,000 for other members, plus meeting fees and committee remuneration.