Nordea Bank Abp
Stock exchange release - Annual Financial Report
24 February 2025 at 09.00 EET

Nordea has today published its Annual Report for the financial year 2024, which includes the audited Financial Statements, the Board of Directors' Report now including the Sustainability Statement, and the Corporate Governance Statement. Further, Nordea has today published its Remuneration Report for Governing Bodies 2024.

The year 2024 was a reminder of how unpredictable the world can be. In the Nordics, people are fortunate to live in stable and prosperous societies. Even so, open economies are not immune to uncertainty. Inflation eased as the year went on and together with lower interest rates, provided some welcome relief to households and busi­nesses. As the year drew to a close, economic activity in the Nordics showed signs of picking up. Despite the uncertain market environment, Nordea had another strong year of performance.

"We have stayed focused on what matters most: delivering on our priorities and fulfilling our role as a strong and resilient partner for customers, share­holders and the wider communities we serve. While global uncertainty persists, we are in a strong position - as a leading financial services group in one of the best places in the world to do business. The Nordic region is characterised by resilience, innovation and opportunity, and we are proud to play our part in its success," President and Group CEO Frank Vang-Jensen comments in his letter to stakeholders in the Annual Report.

Now entering the final year of the current strategy period, 2022-2025, it is clear the plan is working. Supported by strategic investments, the busi­ness has grown, sustainable efficiencies have been created and the customer experience has improved significantly - with customer satis­faction up across the board.

To support the strategy, there are two key levers within Nordea that are critical to its long-term success. One is being a digital leader in the industry where digital technologies are key to providing outstanding banking services. The other is to integrate sustainabil­ity into the core of business and remain committed to supporting customers in the transition.

Today, more than five million customers actively use the Nordea app and online banking platform for managing their finances. That is 25% more than in early 2022. In 2024 alone customers logged into Nordea's digital services 1.5 billion times, an increase of 8% compared with 2023.

Over the past three years Nordea has facilitated EUR 185bn in sustainable financing, bringing it closer to the 2025 target of EUR 200bn. Furthermore, there is good progress when it comes to reducing carbon emissions. So far, Nordea's lending portfolio financed emissions are down 36% compared with 2019 levels, putting Nordea on track to reach its 40-50% reduction target by 2030.

The Annual Report, the Corporate Governance Statement and the Remuneration Report for Governing Bodies are available at nordea.com.

Nordea also publishes its Annual Report in accordance with the European Single Electronic Format (ESEF) reporting requirements. Authorised public accountants PricewaterhouseCoopers Oy have provided an independent auditor's reasonable assurance report on Nordea's ESEF Financial Statements. The ESEF Annual Report in Swedish is available in the zip file attached to this release and at nordea.com.

For further information:

Ilkka Ottoila, Head of Investor Relations, +358 9 5300 7058
Media inquiries, +358 10 416 8023 or press@nordea.com

The information provided in this stock exchange release was submitted for publication, through the agency of the contacts set out above, at 09.00 EET on 24 February 2025.

We are a universal bank with a 200-year history of supporting and growing the Nordic economies - enabling dreams and aspirations for a greater good. Every day, we work to support our customers' financial development, delivering best-in-class omnichannel customer experiences and driving sustainable change. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges. Read more about us at nordea.com.