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Nordea aims for 4% growth in lending volume by end of 2025 -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The logo of Nordea Bank AB is displayed at the SIBOS financial and banking conference, Toronto (Ontario, Canada) October 19, 2017. REUTERS/Chris Helgren

HELSINKI, Reuters – Nordea aims to achieve a 4-6% increase in loan volume by 2025 and a 4% rise in savings by 2025 through its improved digital services. This was announced by the bank on Thursday before its capital markets day.

We will continue to invest in digital leadership. In a statement, CEO Frank Vang Jensen stated that the 2025 goal is for at least 20% more customers to be digitally active.

Nordea boosted its profitability targets two weeks ago due to an increase in demand for mortgages. However, it warned that the costs this year will be more.

Nordic’s largest lender is now striving for an increase in return on equity (RoE). It will be above 11% in 2022, and higher than 13% in 2025. In 2021, it was 11.3%.

Nordea increased investments. Cost inflation would lead to an increase in cost-to-income ratio. This is now expected to go up to 49-50%, up from 47%.

Nordea said that it intends to make sure that the Paris agreement is met by at least 80 percent of Nordea’s 200 largest emitters. That means the Paris agreement will be adhered to, which means that global warming should not exceed 2 degrees Celsius.

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