Today, on 15 February 2017, Nordea published its Annual Report and Sustainability Report on its website.
Luxembourg and Switzerland’s leading Nordic pan-European bank has published its Annual Report and Sustainable Report online.
The Annual Report describes operations in 2016, which was an eventful year for Nordea. As well as macroeconomic and regulatory challenges for the sector, Nordea contended with substantial media attention, and began the implementation of its transformation agenda. Two important milestones during the year were the implementation of the new legal structure, and the launch of the first service on the new core banking platform.
Despite the challenging market with sustained exceptionally low interest rates, Nordea have reported an improved net interest margin. Inflow to asset management was at an all-time high, and Euromoney awarded Nordea Private Banking for having the best Nordic Private Banking offering.
The bank also further cemented its leading position in the Nordics in corporate advisory, although earnings declined 1% over the year.
During the year, the operations of the former Retail Banking business area were streamlined and two new customer organisations were created – Personal Banking, which serves the household market, and Commercial and Business Banking, serving SMEs.
Nordea’s strategic focus in 2017 is to continue to invest in its platform and attempt to fundamentally change the bank. It will continue to focus on creating a fully digital platform, improving customer satisfaction and transforming its organisation.
In 2016, the bank embarked on a major transformation process, taking into account environmental, ethical and social aspects for a sustainable business model.
The Annual Report and Sustainability Report can be downloaded from nordea.com, as well as the Capital and Risk Management (Pillar III) Report 2016, all of which are available in English only.
