Total income increased and operating profit continued to grow. The number of household and corporate customers continued to increase and more business was conducted with each customer, resulting in increased business volumes and more ancillary business.
Nordea continues to focus on the relationship strategy. By striving to create great customer experiences Nordea deepens the relationship with each customer and expands the customer base, thereby growing the overall business volume. Despite the financial unrest, Nordea proactively adjusted the direction to ensure ability to reach higher customer satisfaction, continuous growth in income and stable profitability.
The new regulatory requirements on capital, liquidity and funding, following the global financial and sovereign debt crises, imply a cost for all banks that will be reflected in business models and other changes in the global banking market for years to come.
During 2012, Nordea further adapted to the new conditions by following the New Normal plan implemented the previous year. Nordea increased capitalisation, prolonged funding further and increased liquidity to sustainable levels. During the year, capital efficiency increased and cost development remained flat. The processes to reduce the number of employees were also finalised according to plan.
Nordea has into 2012 further strengthened the platform for its future business, combining increased efficiency with a maintained high service level towards the customers. Advice capacity in branches was improved, the services available through contact centres, internet bank and mobile bank were expanded and the presence in social media enhanced. The relationship and advice concepts for both household and corporate customers were further developed, as were products and services.
Following the New Normal Plan, Nordea’s plan is directed towards sustainable profitability and efficiency, long-term customer relations and a solid capital position. This includes focus on income, cost efficiency, capital efficiency and risk management, reflecting the ambition to stay in the top league of European banks. Towards the end of 2012, Nordea’s efforts gained recognition when Nordea received the award “Bank of the Year in Western Europe” by the financial magazine The Banker.
Nordea was in 2012 named the safest bank in the Nordic region by the magazine Global Finance in an evaluation of long-term credit ratings. Few banks in Europe have as high a rating as Nordea, at AA rating level, and it reflects that Nordea’s repayment ability is perceived to be very good. Nordea is viewed upon as less vulnerable to market turbulence than other banks due to its well-diversified business model.
Nordea will safeguard a continued high rating, enabling strong liquidity and funding position since it is vital to ensure the right products and services at the right price to each customer.
Nordea’s vision is to be a Great European bank, acknowledged for its people, creating superior value for customers and shareholders. Nordea has around 11 million customers, approx. 1,000 branch office locations and is among the ten largest universal banks in Europe in terms of total market capitalisation. The Nordea share is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Helsinki and Copenhagen.