Fourth-quarter Financial Highlights 2023
Key financials
Full-year results 2023
Income statement and key ratios
EURM
Net interest income
FY23
FY22*
FY/FY
7,451
5,664
32%
Net fee and commission income
3,021
3,186
-5%
Net insurance result
217
173
25%
Net fair value result
1014
1,160
-13%
Other income
40
75
-47%
Total operating income
11,743
10,258
14%
Total operating expenses excl. reg. fees and write-offs**
-4,745
-4,512
5%
Total operating expenses
-5,238
-4,834
8%
Profit before loan losses
6,505
5,424
20%
Net loan losses and similar net result
-167
-49
Operating profit
6,338
5,375
18%
Cost-to-income ratio excl. regulatory fees and write-offs**, %
40.4
44.0
Cost-to-income ratio, %
44.6
47.1
Return on equity excl. write-offs**, %
17.4
13.8
Return on equity, %
16.9
13.8
Diluted earnings per share, EUR
1.37
1.10
25%
5
Excluding IAC; see page 5 in Q4 interim report for details
** EUR 177m in intangible asset write-offs, primarily due to change in treatment of development costs related to digital services
NordeaView entire presentation