Fourth-quarter Financial Highlights 2023
Operating environment
Structurally attractive banking environment
Steady growth and structurally lower unemployment rates
Nordic GDP growth steady and above European average, with lower unemployment
supported by strong economies and social security nets
GDP (Index: 2011=100)
130
120
Unemployment rate, %
12 +
9
110
6
100
3
90+
T
0
T
T
2010 12 14
16 18
20 22 24 2026
2010 12
14
16
18 20 22 24 2026
Nordics
Euro area
Competitive countries with high degree of digitalisation
Nordic region: high-performing economies, stable political environments, high
degree of digitalisation
Nordea uniquely well placed
Diversification at scale within Nordics driving...
4%
Denmark
27%
Finland
26%
2023
operating
Norway
income
Sweden
18%
25%
Other*
low earnings volatility**..
and best-in-class funding***
83%
108bp
91bp
75bp
Global competitiveness
(Global ranking 2023)*
1st
Digital transformation readiness
(Global ranking 2023)***
4th
8th
7th
8th
14th
11th
25%
21%
14th
33rd
34th
European Norway
average
Finland Sweden Denmark
European Norway Finland Sweden Denmark
average
19
2013-2022
2023
Nordea
Nordic banks
European banks
* Source: IMD World Competitiveness Ranking 2023 (analyses and ranks countries according to how they manage
their competencies to achieve long-term value creation)
**Source: IMD World Digital Competitiveness Ranking 2023
Other income mainly Luxembourg, Poland, United States, United Kingdom and Estonia
** 2013-22 annual operating profit volatility: sample of 30 European banks
***
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