Fourth-quarter Financial Highlights 2023
Supplementary information
Real estate management industry (REMI)*
Strong and well-diversified portfolio, high-quality lending
Lending volumes stable
Diversified across countries
31
30
30
Ο
36
24
55
25
25
25
Q422
CRE
32
26
31
ले ७
25
Other
Finland
0%
17%
25
26
Denmark 19%
Q123 Q223 Q323 Q423
RRE
90% of portfolio with low probability
of default (PD)
29bn
2bn
Sweden
35%
Office
Well-diversified portfolio across
Nordic markets
90% of exposure towards low-
risk customers, 7% towards
increased risk, only 2% towards
high risk and less than 1% in
default
Portfolio mainly comprising
central and modern office and
residential properties
Strict underwriting standards:
conservative credit policy with
focus on cash flow and existing
customers
29%
Norway
Diversified across types
Industrial Hotels
Q4 2022
Logistics 6%
Q1 2023
6%
3%
Q2 2023
Other
10%
39%
Q3 2023
Q4 2023
10%
Retail
1bn
0
PD 0.01%- PD 0.85%- PD 4.0%- PD 100%
28
* Excluding tenant-owner associations (TOAS)
26%
Commercial residential
NordeaView entire presentation