Fourth-quarter Financial Highlights 2023
Operating performance
Focus on income growth and operational efficiency -
continued investments in tech & risk capabilities
Cost-to-income ratio drivers, %
45%
44-46%
2023
NII
Cost-to-income ratio development
50%
NCI
Costs
2025
Actual development + updated forecast
CMD 2022 expectations
46%
44%
44%
2021
2022
2023
2024
2025
22
* Assumed rate path as at end December 2023 (available on slide 32)
.
•
Drive focused profitable growth
Volume growth & market share gains
NII to remain fairly resilient*
-
Lower impact from first rate cuts
- Benefit from deposit hedge
- Norwegian acquisition
Lower rates driving increased activity
and savings growth, especially in 2025
Investment in key enablers
Strengthening of technology, risk
management & other strategic areas
- Integration of Norwegian retail assets
Focus on operational efficiency
Continuous improvement to offset
inflation and reduce structural costs
Expected significant reduction in
resolution fees
Cost-to-income ratio maintained
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