Nordea Reports Strong 2024 Financial Results

Nordea Bank Abp has reported a strong financial performance for 2024, with total income increasing by 3% compared to the previous year. The bank achieved a return on equity of 16.7%, surpassing the 16% target for the second year in a row. This robust performance continued into the fourth quarter, marked by business growth and high customer activity in savings and investments.

The bank noted that its customers maintained stable financial positions, evidenced by low credit losses and strong deposit growth. Retail deposits rose by 2% year-on-year in the fourth quarter, with corporate deposit volumes increasing by 8%. Lending volumes also saw growth, particularly in mortgage lending, which was up 6%, signaling a gradual recovery in Nordic housing markets.

Nordea attributes its sustained profitability and improved customer satisfaction to strategic investments and repositioning efforts initiated in 2019. The bank highlighted progress in Sweden, including strengthened market position and enhanced customer experience, culminating in being named Sweden's Bank of the Year. Shareholders are proposed a dividend of EUR 0.94 per share, with EUR 11.9 billion distributed over the past five years.

Looking ahead, Nordea anticipates its return on equity to remain above 15% in 2025. The bank aims to maintain its position as the preferred financial partner in the Nordic region, despite ongoing global uncertainties.