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Nordea targets return on equity above 13% in 2025 -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Nordea Bank AB Logo is visible at the SIBOS Banking and Financial Conference in Toronto (Ontario, Canada) October 19, 2017. REUTERS/Chris Helgren/File photo

Corrects to add 2022 RoE target to be above 11%, not 10%.

HELSINKI, Reuters – Nordea Bank, based in Helsinki, has announced a new goal of a higher return on equity for 2025. It also updated its RoE target from 10 to 1 in 2022.

Nordic’s leading lender, the largest in Europe, reported a higher-than-expected fourth-quarter net profit. It saw both an increase in mortgage lending and continued asset growth.

Frank Vang-Jensen, Chief Executive, stated in a statement that “our mortgage lending increased by 6%, SME lending by 6%, and assets under management…by 17% reaching all-time high levels.”

According to Refinitiv data, fourth-quarter net profits rose to 1.02 Billion Euros ($1.15 Billion) from 725 MILLION a year earlier. This beats the average forecast of 949.1 Million made by analysts.

The board of Nordea proposed an increase in dividends to 0.69 euro per share by 2021. This is 77% more than the 0.39 euros per shares for 2020.

($1=0.8851 euros)

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