Strong capital position, flat costs and growing income
4-2-2013 — /europawire.eu/ — CEO Christian Clausen’s comment to the results:
“In 2012, we had more customers, more capital and higher profit than ever before. We are ahead of the plan that was established in 2011. On that foundation, we will shape the future of Nordea, with closer customer relationships, unchanged costs and increased return on equity.
85,000 new relationship customers and more business with our customers have led to an increased income in the quarter and the year. The flat cost target was achieved in 2012. Despite lending growth of 3%, risk-weighted assets were reduced by 9%.
Return on equity increased in 2012 to 11.6% and the core tier 1 capital ratio increased to 13.1%. Dividend is proposed to be EUR 0.34, which corresponds to a payout-ratio of 44%, in line with our policy.”
(For further viewpoints, see CEO comments, page 2)
Full year 2012 vs full year 2011 (fourth quarter 2012 vs third quarter 2012):
Summary key figures, EURm | Q4 2012 | Q3 2012 | Ch. % | Q4 2011 | Ch. % | 2012 | 2011 | Ch. % | |
Net interest income | 1,429 | 1,441 | -1 | 1,427 | 0 | 5,752 | 5,456 | 5 | |
Total operating income | 2,630 | 2,469 | 7 | 2,558 | 3 | 10,236 | 9,501 | 8 | |
Profit before loan losses | 1,303 | 1,176 | 11 | 1,292 | 1 | 5,050 | 4,282 | 18 | |
Net loan losses | -244 | -254 | -4 | -263 | -7 | -933 | -735 | 27 | |
Loan loss ratio (ann.), bps | 29 | 30 | 33 | 28 | 23 | ||||
Operating profit | 1,059 | 922 | 15 | 1,029 | 3 | 4,117 | 3,547 | 16 | |
Operating profit, adjusted | 3,718* | 11* | |||||||
Risk-adjusted profit | 846 | 749 | 13 | 815 | 4 | 3,245 | 2,714 | 20 | |
Diluted EPS, EUR | 0.21 | 0.17 | 0.19 | 0.78 | 0.65 | ||||
Return on equity, % | 12.1 | 10.1 | 12.3 | 11.6 | 10.6 | ||||
Return on equity, adjusted, % | 11.1* | ||||||||
* Excluding restructuring provision in the third quarter 2011 of EUR 171m.
Currency rates used for DKK, NOK and SEK for the fourth quarter 2012 are for income statement items 7.44, 7.48 and 8.71 respectively.
For further information:
Christian Clausen, President and Group CEO, +46 8 614 7804
Torsten Hagen Jørgensen, Group CFO, +46 8 614 7814
Rodney Alfvén, Head of Investor Relations, +46 8 614 7880 (or +46 72 235 05 15)
Jan Larsson, Head of Group Identity & Communications, +46 8 614 7916 (or +46 70 593 34 12)
Documents
(IN BRIEF) The Lazio Region and Terna, led by Giuseppina Di Foggia, have signed a…
(IN BRIEF) Swissport Geneva has expanded its customer base by welcoming Gulf Air and renewing…
(IN BRIEF) Fondazione Snam, in collaboration with several partners, has opened applications for "Welfare, che…
(IN BRIEF) Snam has revealed the five startups selected for the third edition of HyAccelerator,…
(IN BRIEF) Loughborough University is set to play a pivotal role in a new national…
(IN BRIEF) Loughborough University is showcasing the rich tapestry of mixed heritage experiences through a…