Transcription
Half-YearFactbook2022NORDEA BANK ABP
Half-Year Factbook 2022Table of contentsTable of contentsHalf-Year Factbook 2022pageNordea overview22- Ratings- Nordea’s largest shareholdersKey financial figures44566789910- 10 years overview Income statement- 10 years overview Ratios and key figures- 10 years overview Balance sheet- Quarterly development Income statement- Quarterly development Ratios and key figures- Quarterly development Balance sheet- Net interest income development- Net fee and commission income- Other expenses- Net loan lossesBusiness areasPersonal Banking12- Personal Banking financial highlightsBusiness Banking14- Business Banking financial highlightsLarge Corporates & Institutions16- Large Corporates & Institutions financial highlightsAsset & Wealth Management181819192020- Asset & Wealth Management financial highlights- Private Banking- Life & Pension- Solvency- Asset Management- Assets under managementGroup functions22- Group functions financial highlightsRisk, liquidity and capital management243235363744454650- Lending, loan losses and impaired loans- Loans and impairment- Rating distribution- LTV distribution- Capital position- Short-term funding- Liquidity buffer- Asset and liabilities and Maturity analysis- LCRMacroeconomic Outlook52- Macroeconomic dataContacts and financial calendar55- Contacts and Financial calender1Nordea
Nordea overviewHalf-Year Factbook 2022RatingsMoody'sAs of 30 Jun 2022ShortNordea Bank AbpStandard & Poor'sFitchLongShortLongShortLongAa3A-1 AA-F1 AA-P-1Senior Preferred (SP) issuancesAa3AA-AASenior Non-Preferred (SNP) issuancesA3AAA-Tier 2 (T2) issuancesBaa1Additional tier 1 (AT1) issuancesNordea Hypotek AB (publ)A-ABBBBBB Aaa*Nordea Kredit RealkreditaktieselskabAAA*Nordea Eiendomskreditt ASAaa*Nordea Mortgage Bank PlcAaa*Nordea Direct Bank ASAA-1 Nordea Direct Boligkreditt ASAAAAA**Covered bond ratingNordea's largest shareholdersEnd of June 2022BlackRockCevian CapitalNumber ofshares, millionPercent ofNordea198.25.2N/A4.8*Nordea-fonden158.24.2Norges Bank137.23.5Vanguard117.53.1Swedbank Robur Funds75.82.0Alecta Pension Insurance66.51.8Varma Mutual Pension Insurance65.01.7Fidelity Investments48.51.3Nordea funds47.31.2First Swedish National Pension Fund42.71.1Handelsbanken Funds40.21.1SEB Funds35.50.9Ilmarinen Mutual Pension Insurance Company32.30.9TIAA - Teachers Advisors30.70.8JP Morgan Asset Management24.80.7Nordea Vinstandelsstiftelse24.30.6State Street Global Advisors21.80.6Janus Henderson Investors21.30.6Amundi20.80.6Abrdn Investment Management20.50.5Government of Japan Pension Investment Fund20.10.5AMF Pension & Funds18.80.5The State Pension Fund of Finland18.00.5Northern Trust16.90.4Others2 25861.1Total number of outstanding shares**3 753100* Latest disclosed** Nordea cancels own shares acquired through share buy-backs on a monthly basis. For the latest information onchanges in the total number see nordea.com/en/investors/shareholdersTreasury shares: Nordea holds 6,073,651 treasury shares for remuneration purposes (22.6.2022).2Nordea
Half-Year Factbook 20223Key financial figuresNordea
Key financial figuresHalf-Year Factbook 2022Income statement, 10 year overviewHistorical numbers for 2014 restated following that IT Poland is included in continuing operationsJan-Jun2022EURm20214 92520204 51520194 31820184 49120174 88820164 85520155 11020145 48220135 525Net interest income2 616Net fee and commission income1 7083 4952 9593 0112 9933 3693 2383 2303 0172 774Net result from items at fair value401 1199001 0121 0881 3281 7151 6451 3831 539Equity method-4-6-15012423112391879Other incomeTotal operating income378793232476831352634741064 3979 6208 4668 6239 1729 69110 05510 28710 37410 023-1 402-2 759-2 752-3 017-2 998-3 212-2 926-3 263-3 159-2 978Other expenses-531-1 002-1 084-1 428-1 399-1 622-1 646-1 632-1 656-1 835Regulatory iation tangible and intangible assetsTotal operating expenses-304-664-605-1 330-482-268-228-209-585-227-2 527-4 649-4 643-5 986-5 046-5 324-4 928-5 251-5 533-5 0401 8704 9713 8232 6374 1264 3675 1275 1834 8414 851-8-35-860-524-173-369-502-479-534-7351 8624 9362 9632 1133 9533 9984 6254 7044 3074 116-539-1 105-698-571-872-950-859-1 042-950-1 0091 3233 8312 2651 5423 0813 0483 7663 6623 3573 107---------2591 3233 8312 2651 5423 0813 0483 7663 6623 3323 1161 9223 8312 2652 5022 6943 0483 5393 6913 3613 .47.27Staff costsProfit before loan losses9Net loan losses and similar net resultOperating profitIncome tax expenseNet profit for period from continuing operationsNet profit for the period from discontinued operationsafter taxNet profit for the periodNet profit, excl. non-recurring items1Ratios and key figuresDiluted earnings per share, EUR2Share price , EUR8Proposed/actual dividend per share , EUR2Equity per share , EURPotential shares outstanding2, million3 7533 9664 0504 0504 0504 0504 0504 0504 0504 050Weighted average number of diluted shares, million3 8504 0254 0394 0354 0374 0394 0374 0314 0314 8.819.118.718.317.322.320.718.517.615.7Return on equity, %Assets under management, EURbnCost-to-income ratio, % - excl. items affectingcomparability1Loan loss ratio, basis points33Loan loss ratio including loans held at fair value, bpLoan loss ratio including loans held at fair value, excl.items affecting comparability, bp1Common Equity Tier 1 capital ratio, excl, Basel I floor2,4,6,7,%Tier 1 capital ratio, excl, Basel I floor2,4,6,7 , %Total capital ratio, excl, Basel I floor2,4,6,7,%Tier 1 capital2,4, EURmRisk Exposure Amount, excl, Basel I floor4, EURbn4Risk Exposure Amount, incl, Basel I floor , EURbnNumber of employees (FTEs)2Economic capital2,7, EURbn5Return on capital at risk , %20.921.220.520.819.925.224.721.620.618.128.429 01229 14127 51826 98428 00827 55526 51625 58824 20927 35026 89428 05129 00028 99030 39931 59629 81529 64329 59.29.210.011.113.214.814.0¹ Excl Items affecting comparability in Q1 2022: a non-deductible loss from the recycling of EUR 529m in accumulated foreign exchange losses related to operations in Russia and EUR 8m (EUR 6m after tax) inlosses on fund investments in Russia, recognised in “Net result from items at fair value”; and EUR 76m (EUR 64m after tax) in credit losses on direct Russia-linked exposures, recognised in “Net loan losses and similarnet result”. In Q4 2019: EUR 138m tax free gain related to sale of LR Realkredit. In Q3 2019: EUR 735 expense related to impairment of capitalised IT systems (EUR 559m after tax), EUR 204m expense related torestructuring (EUR 155m after tax), EUR 75m non-deductible expense related to sale of Luminor and EUR 282m loss related to loan loss provisions due to model updates and dialogue with the ECB reflecting a moresubdued outlook in certain sectors (EUR 214m after tax). In Q1 2019: EUR 95m non-deductible expense related to provision for ongoing AML-related matters. Q4 2018: EUR 50m gain from revaluation of Euroclear,EUR 38m after tax, EUR 36m gain related to sale of Eijendomme and EUR 141m loss from goodwill depreciation in Russia. Q2 2018: tax free gain related to divestment of shares in UC EUR 87m and tax free gainrelated to the sale of Nordea Liv & Pension Denmark EUR 262m. In Q1 2018: EUR 135m gain (EUR 105m after tax) from valuation model update in Denmark. Q4 2016: additional gain related to VISA of EUR 22mbefore tax, Q4 2016: change in pension agreement in Norway of EUR 86m before tax, Q2 2016: gain related to Visa Inc,'s aquisition of Visa Europe amounting to EUR 151m net of tax, Q4 2015: gain from divestmentof Nordea's merchant acquiring business to Nets of EUR 176m berfore tax and restructuring charge of EUR 263m before tax.2End of period.3Including Loans to the public reported in Assets held for sale.4Including the result for the period.5Return on capital at risk restated Q4 2015 due to changed definition.6For more detailed information see chapter Other information.7The capital ratios for 2018 have not been restated due to the changed recognition and presentation of resolution fees (see Note 1 for more information).8For 2021, proposed dividend, approximate amount based on the estimated number of shares that will be in issue at the estimated dividend decision date.9Figures are only restated for 2019.For more detailed information regarding ratios and key figures definied as alternative performance measures, see ea
Key financial figuresHalf-Year Factbook 2022Balance sheet, 10 year overviewJun 202220212020201920182017201620152014201371 13447 49532 95535 50941 57843 08132 09935 50031 06733 529EURmAssetsCash and balances with central banksLoans to central banks1974093 1239 2077 6424 79611 23513 2246 95811 7696 4311 9833 1238 51911 3208 5929 02610 76212 21710 743347 596345 050329 765323 091308 304310 158317 689340 920348 085342 45165 28363 38362 50964 93076 22275 29487 70186 53587 11087 3144 7401 6683 7957 1517 5686 4895 1088 34112 1519 57518 67215 21712 64914 18412 45217 18021 52422 27339 74933 27140 50146 91236 48430 79924 58325 87923 10220 43438 38330 20044 77039 11137 02546 11169 95980 741105 11970 992-1 547-653592171691631781512562032162075555721 6011 2355885154876303 6983 7843 7713 6954 0353 9833 7923 2082 9083 246Properties and equipment1 6981 7451 9312 002546624566557509431Investment property1 7701 7641 5351 5851 6071 4483 1193 0543 2273 524Loans to credit institutions1Loans to the public1Interest-bearing securitiesFinancial instruments pledged as collateralSharesAssets in pooled schemes and unit-linked investmentcontractsDerivativesFair value changes of hedged items in portfoliohedge of interest rate riskInvestments in associated undertakings and jointventuresIntangible assetsDeferred tax assets58218406487164118607613062Current tax assets2532723003622841212888713231Retirement benefit assets3712211441732462503063774232110 4638 83013 34912 54314 74912 44118 97318 58717 58111 064Prepaid expenses and accrued income8588806377111 3131 4631 4491 5261 6142 383Assets held for sale185180---22 1868 897--8 895610 960570 353552 160554 848551 408581 612615 659646 868669 342630 43437 15826 96123 93932 30442 41939 98338 13644 20956 32259 090223 038205 801183 431168 725164 958172 434174 028189 049197 254200 74341 80048 20137 53431 85925 65326 33323 58021 08817 45919 59518 17819 24618 23019 41241 21038 70751 84347 226189 752175 792174 309193 726190 422179 114191 750201 937194 274185 602DerivativesFair value changes of hedged items in portfoliohedge of interest rate riskCurrent tax liabilities39 47631 48547 03342 04739 54742 71368 63679 50597 34065 924-4 2988052 6082 0181 2731 4502 4662 5943 4181 734203354305742414389487225368303Other liabilities26 31318 48521 34119 86823 31528 51524 41325 74526 97324 7371 1411 3341 4041 4761 6961 6031 7581 8051 9433 677Deferred tax liabilities5675354364817067228301 etirement benefit obligations2953693654393982813023295403346 9936 7196 9419 8199 1558 98710 4599 2007 9426 545Other assets1Total assetsLiabilitiesDeposits by credit institutionsDeposits and borrowings from the publicDeposits in pooled schemes and unit-linkedinvestment contactsLiabilities to policyholdersDebt securities in issueAccrued expenses and prepaid incomeSubordinated liabilitiesLiabilities held for saleTotal liabilities-----26 0314 888--4 198580 271536 850518 420523 320518 507548 296583 249615 836639 505601 225749750748748750750----EquityAdditional Tier 1 capital holdersNon-controlling interestsShare capitalShare premium reserveInvested unrestricted equityOther reserves-9940616811224 0504 0504 0504 0504 0504 0504 0504 0504 0504 0501 080-----1 0801 0801 0801 0801 0961 0901 0631 0801 080------1 427-1 801-2 067-2 062-1 876-1 543-1 023-1 188-1 201-159Retained earnings26 22129 40529 93727 67228 89128 81128 30227 08925 90624 236Total equity30 68933 50333 74031 52832 90133 31632 41031 03229 83729 209610 960570 353552 160554 848551 408581 612615 659646 868669 342630 434Total liabilities and equity1Figures are only restated for 2019.5Nordea
Key financial figuresHalf-Year Factbook 2022Income statement, 14 quarter 19Q319Q219Q1191 3081 3081 2551 2261 2321 2121 1691 1461 0911 1091 1081 0831 0711 056EURmNet interest incomeNet fee and commission t result from items at fair uity method-40-493-1456-10-2-1132414Other income20172015272536172020146222044Total operating income2 4441 9532 4382 3442 4182 4202 2192 1552 0902 0022 2782 0862 1432 115Total operating income, excl. non-recurringitems12 4442 4902 4382 3442 4182 4202 2192 1552 0902 0022 1402 0862 1432 115Staff 924-727-718Other 74-364-303-387Regulatory 159-164-151-177-158-140-130-156-885-149-140Total operating expenses-1 139-1 388-1 101-1 098-1 131-1 319-1 218-1 089-1 088-1 248-1 179-2 175-1 180-1 452Total operating expenses, excl. nonrecurring items1-1 139-1 388-1 101-1 098-1 131-1 319-1 218-1 089-1 088-1 248-1 179-1 161-1 180-1 3571 3055651 3371 2461 2871 1011 0011 0661 0027541 -42Operating profit1 3615011 2811 2681 3381 0499731 0853065991 013-421900621Operating profit, excl. non-recurring items11 3611 1141 2811 2681 3381 0499731 248-63-139-26389-219-178Depreciation tangible and intangible assetsProfit before loan lossesNet loan losses and similar net resultIncome tax expenseNet profit1 0542691 0171 0011 025788725837243460750-332681443Net profit, excl. non-recurring items11 0548681 0171 0011 250.250.190.180.210.060.110.19-0.080.170.11Ratios and key figuresDiluted earnings per share, EUR2Share price , 56.396.8Equity per share2, 7.697.553 7533 8603 9664 0504 0504 0504 0504 0504 0504 0504 0504 0504 0504 0503 7923 8943 9784 0424 0414 0404 0394 0404 0394 0384 0394 0364 0324 033Return on equity, Return on equity with amortised resolution fees,% - excl. items affecting 4.5309.8279.0324.7314.3306.9300.5Cost-to-income ratio, % - excl. items Cost-to-income ratio, % - excl. items affectingcomparability with amortised resolution fees4948474949485753525758585857Loan loss ratio, basis .428 31729 01228 82629 62829 63629 14127 43427 22427 13527 51827 26127 59027 2.1150.2156.3159.7163.027 35027 07626 89427 12627 51027 80028 05127 88027 95428 29229 00029 46929 55029 ential shares outstanding2, millionWeighted average number of diluted shares,millionAssets under management, EURbnLoan loss ratio including loans held at fair value,bp3Loan loss ratio including loans held at fair value,excl. items affecting comparability, bp3Common Equity Tier 1 capital ratio2,4,5,6, %2,4,5,6Tier 1 capital ratio2,4,5,6Total capital ratio2,4Tier 1 capital , EURm4Risk Exposure Amount , EURbnNumber of employees (FTEs)22,5Economic capital , EURbn1Return on capital at risk , %Return on capital at risk with amortised resolutionfees, %¹ Excl Items affecting comparability Q1 2022: a non-deductible loss from the recycling of EUR 529m in accumulated foreign exchange losses related to operations in Russia and EUR 8m (EUR 6m after tax) in losses onfund investments in Russia, recognised in “Net result from items at fair value”; and EUR 76m (EUR 64m after tax) in credit losses on direct Russia-linked exposures, recognised in “Net loan losses and similar net result”.In Q4 2019: EUR 138m tax free gain related to sale of LR Realkredit. In Q3 2019: EUR 735 expense related to impairment of capitalised IT systems (EUR 559m after tax), EUR 204m expense related to restructuring(EUR 155m after tax), EUR 75m non-deductible expense related to sale of Luminor and EUR 282m loss related to loan loss provisions due to model updates and dialogue with the ECB reflecting a more subduedoutlook in certain sectors (EUR 214m after tax). In Q1 2019: EUR 95m non-deductible expense related to provision for ongoing AML-related matters. Q4 2018: EUR 50m gain from revaluation of Euroclear, EUR 38mafter tax, EUR 36m gain related to sale of Eijendomme and EUR 141m loss from goodwill depreciation in Russia.2End of period.3Including Loans to the public reported in Assets held for sale.4Including the result for the period.5The capital ratios for 2018 have not been restated due to the changed recognition and presentation of resolution fees.6For more detailed information see chapter Other information.For more detailed information regarding ratios and key figures definied as Alternative performance measures, see ea
Key financial figuresHalf-Year Factbook 2022Balance sheet, 14 quarter 19Q319Q219Q11971 13471 14747 49577 08651 76956 84332 95548 92848 64241 42035 50931 33741 73945 7641972634094751 501273 1234 4305 66112 6339 2078 1538 1238 473EURmAssetsCash and balances with central banksLoans to central banksLoans to credit institutionsLoans to the publicInterest-bearing securitiesFinancial instruments pledged as collateral6 43112 5451 9836 7606 18110 4783 12310 3588 65016 0748 51820 06717 79014 372347 596351 902345 050342 604338 410333 622329 765320 469328 022324 341323 091328 673324 125325 93465 28367 78163 38363 91765 42466 73962 50968 18572 52071 69064 93066 20269 63370 5594 7404 3271 6682 7541 7923 9483 7956 5106 4487 7427 1516 0926 55711 582Shares18 67220 00115 21721 82523 72019 32412 64912 79413 36812 83614 18414 91914 96916 137Assets in pooled schemes and unit-linkedinvestment contracts40 50145 35846 91243 96742 79539 78336 48432 73029 85425 96130 79929 35028 11127 003Derivatives38 38330 65430 20030 26832 36536 00044 77045 43447 03956 93439 11151 79141 64739 491-1 72085475455555495535575721 3772 0981 620Intangible assets3 6983 8093 7843 8123 8073 8173 7713 6373 6613 5313 6953 5954 3284 319Properties and equipment1 6981 7491 7451 7531 8091 8751 9311 9081 9451 9552 0021 9722 0222 067Investment properties1 7701 7871 7641 7321 6381 5961 5351 5731 5751 4781 5851 6031 6801 698Deferred tax ent tax tirement benefit assets3713332213863372831447491163173156181195Fair value changes of hedged items inportfolio hedge of interest rate riskInvestments in associated undertakings andjoint venturesOther assets10 46311 8998 83014 98913 27014 55713 34915 30117 28221 22312 54318 31618 22819 335Prepaid expenses and accrued sets held for sale185182180342----------610 960624 498570 353614 509586 812591 101552 160574 774587 287600 394554 848585 855582 875590 17337 15845 47226 96143 46732 98343 43123 93939 07646 22363 30832 30445 30843 55351 634Total assetsLiabilitiesDeposits by credit institutionsDeposits and borrowings from the public223 038221 095205 801210 822204 627198 169183 431189 971188 451173 992168 725168 326176 543176 285Deposits in pooled schemes and unit-linkedinvestment contacts41 80046 70448 20144 63843 48240 82437 53433 81131 12627 37831 85930 27429 15728 120Liabilities to policyholders17 45919 11619 59519 17519 10118 80518 17817 19917 88816 73619 24619 05118 99719 067189 752193 003175 792191 074182 670183 101174 309180 237182 069183 927193 726190 859189 058193 26339 47635 09331 48531 72632 47036 78647 03345 30849 74955 38642 04753 74244 43041 448-4 298-2 1068051 4021 6591 8932 6082 9343 0812 7922 0183 2482 7481 82820350635449811018630518714650074230422338626 31325 12618 48525 93225 04824 18221 34122 66325 35933 33519 86830 68833 46333 9331 1411 5651 3341 2181 2501 6241 4041 4091 3371 5951 4761 5781 4711 933Deferred tax 79398Debt securities in issueDerivativesFair value changes of hedged items inportfolio hedge of interest rate riskCurrent tax liabilitiesOther liabilitiesAccrued expenses and prepaid incomeRetirement benefit 489Subordinated liabilities6 9936 7446 7196 5836 6016 2996 9417 8288 4528 4959 8199 90710 60710 332Liabilities held for sale--------------580 271593 577536 850577 881551 284556 612518 420542 221555 528568 918523 320555 318551 821559 9992234404344524 0504 0504 0504 0504 0504 0504 0504 0504 0504 0504 0504 0504 0504 050Total liabilitiesEquityAdditional Tier 1 capital holdersNon-controlling interestsShare capitalInvested unrestriced equity1 0961 0881 0901 0691 0661 0721 0631 0701 0721 0721 0801 0801 0801 080Other reserves-1 427-1 036-1 801-1 706-1 794-1 810-2 067-2 515-2 488-2 538-2 062-2 290-2 075-1 934Retained earnings26 22126 06129 40532 45631 44830 41929 93729 18928 35328 10827 67226 90427 20526 497Total equity30 68930 92133 50336 62835 52834 48933 74032 55331 75931 47631 52830 53731 05430 495610 960624 498570 353614 509586 812591 101552 160574 774587 287600 394554 848585 855582 875590 173Total liabilities and equity7Nordea
Key financial figuresHalf-Year Factbook 2022Change in net interest income (NII)Nordea GroupQ222/Q121Q122/Q421Q421/Q321Q321/Q221Q221/Q121 Jan-Jun 22/21Q2/Q2 22/211 3081 2551 2261 2321 2122 4441 232Margin driven NII-6376-25-9-75-22Lending margin-588-33-19-5-156-101Deposit margin35151414211976EURmNII beginning of period-4053-6-4-4423Volume driven NIICost of funds3625199614788Lending volume38252011916094Deposit volume-20-1-2-3-13-6Day count12-240121200Other (incl Treasury)15-2435-1892010of which FX-3-1117-116-7-81 3081 3081 2551 2261 2322 6161 9561Margin driven NII-1414-23-9-2-55Lending margin-327-30-15-4-115Deposit margin18776260Volume driven NII46910662NII end of periodNet interest income per business areaPersonal BankingNII beginning of periodQ221/Q121 Jan-Jun 22/211 130Lending volume66911868Deposit volume-200-1-2-65-10055011-1-3-2-1-1Day countOtherof which FXNII end of periodBusiness BankingNII beginning of period-1-65-42-95715655565735691 136Q222/Q121Q122/Q421Q421/Q321Q321/Q221Q221/Q121 Jan-Jun 22/21440416395405394799Margin driven NII7320-113Lending margin-4-2-3-4-1-22Deposit margin11554035Volume driven NII9654646Lending volume9664749Deposit 0416395405885Day countOtherof which FXNII end of periodLarge Corporates & I beginning of period267247228231Q221/Q121 Jan-Jun 22/21240471Margin driven NII-1753403Lending margin-213100-15Deposit marginVolume driven NII422401823124-6-732Lending volume23124-5-734-2Deposit volumeDay countOtherof which FXNII end of periodAsset & Wealth ManagementNII beginning of 121 Jan-Jun 22/21262019191938Margin driven NII11-1002Lending margin-10-100-4Deposit margin210006Volume driven NII011117Lending volume111119Deposit volume-10000-21-10110Day countOtherof which FXNII end of period051-2-270000002826201919548Nordea
Key financial figuresHalf-Year Factbook 2022Net fee and commission 388359361347360358Life and Deposit 8827792729673765775756743737720703EURmAsset managementcommissionsBrokerage, securitiesissues and corporatefinanceCustody and issuerservicesLending productsOther 19Q319Q219Q119Q418Q318EURmInformation 140-125-137-128-120-121Marketing 4-12-26-10Postage, transportation,telephone and 17-18-20-19Rents, premises andreal 3-71Professional -65-35Market data 3-267-373-366-301-388-389-3229Nordea
Key financial figuresHalf-Year Factbook 2022Net loan 12021Q420Q320Q220Q1202020Q419Q319Q219Q1192019Net loan losses, stage 121-2031-491-6112-1179-200-23-1554-3514-1-18Net loan losses, stage 218-1543044161033-15-20113-200-8-49-3-9-69Net loan losses, 220Q1202020Q419Q319Q219Q1192019Loan loss ratio, amortised cost, bp1-60121-5104901152635175510722- of which stage 1-33-51-141-42-133346-16-201- of which stage 2-32-60-7-3-4-1333-2818023- of which stage 30-5230161212810492421174112518EURmStage 3, defaultedNet loan losses, individually assessed,collectively calculatedRealised loan lossesDecrease in provisions to cover realisedloan lossesRecoveries on previous realised loanlossesReimbursement rightNew/increase in provisionsReversals of provisionsNet loan losses, defaultedNet loan lossesKey ratiosJan-Dec1Jan-DecJan-DecExcluding items affecting comparability.Total net loan losses excluding items affecting comparability amounts to EUR 49m with net loan losses at EUR 11m in stage1, net reversals at EUR -37m in stage 2 and net loan losses at EUR 75m in stage 3.10Nordea
Half-Year Factbook 202211Business areasNordea
Business areasHalf-Year Factbook 2022Personal Banking — Financial highlightsEURmChg %Chg local curr. %Q222Q122Q421Q321Q221Q121Q2/Q2Q2/Q1Q2/Q2Q2/Q1Net interest income5715655565735695610%1%1%1%Net fee and commission income3023013243163012820%0%1%0%Net result from items at fair value305734325132-41%-47%-39%-45%32-11104Equity method & other incomeTotal operating income906925913922931879-3%-2%-2%-2%Total operating expenses-449-509-455-451-447-5090%-12%2%-11%Profit before loan 3%1%3%3%Q2/Q1-2%0%-1%1%Net loan losses and similar net resultOperating profitCost-to-income ratio1, %Return on capital at risk1, %1818171819167 6597 9097 7507 7697 7597 603Risk exposure amount (REA)45 28446 96846 60346 93747 00846 464Number of employees (FTEs)6 9376 8936 8396 9507 0076 1Q221Q121Q2/Q2Q2/Q1Q2/Q2PeB Denmark1581551531531451459%2%9%2%PeB Finland1021089710198994%-6%4%-6%PeB Norway116121109121130119-11%-4%-12%-3%PeB 22Q421Q321Q221Q121Q2/Q2Q2/Q1Q2/Q2PeB Denmark827583848374-1%9%0%9%PeB Finland9294989790882%-2%2%-2%Economic capital (EC)Personal Banking - VolumesEURbnMortgage lendingOther lendingTotal lendingTotal deposits1Chg %Chg local curr. %Q2/Q25%2%5%5%Q2/Q11%1%1%3%With amortised resolution fees.Personal Banking - Net interest incomeEURmPeB OtherChg %Personal Banking - Net fee and commission incomeEURmChg local curr. %Chg %Q2/Q1Chg local curr. %Q2/Q1PeB Norway27252723232217%8%18%8%PeB 21Q321Q221Q121PeB OtherPersonal Banking - Net loan losses and similar net resultEURmPeB DenmarkPeB FinlandQ2228920183313-13-14-20-9-20-14PeB Norway2-1-5-40-2PeB Sweden11-6-4-4-8-7PeB Q2/Q2Q2/Q136.536.335.935.234.533.96%1%6%1%Other lending8.88.68.58.68.58.54%2%4%2%Total lending45.344.944.443.843.042.45%1%5%1%Total 29.629.25%1%5%1%Other lending6.26.26.26.36.36.3-2%0%-2%0%Total lending37.236.936.636.335.935.54%1%4%1%Total 21Q321Q221Q121Q2/Q2Q2/Q
Ilmarinen Mutual Pension Insurance Company 32.3: 0.9 TIAA - Teachers Advisors: . Q4 2015: gain from divestment of Nordea's merchant acquiring business to Nets of EUR 176m berfore tax and restructuring charge of EUR 263m before tax. Nordea. 4. Half-Year Factbook 2022 . Life & Pension - Solvency sensitivity as of June 30, 2022.
