Fourth-quarter Financial Highlights 2023
Key financials
Fourth-quarter results 2023
Income statement and key ratios
Q423
Q422
Q4/Q4
Q323
Q4/Q3
EURM
Net interest income
1,946
1,641
19%
1,909
2%
Net fee and commission income
763
785
-3%
742
3%
Net insurance result
40
47
-15%
63
-37%
Net fair value result
154
396
-61%
225
-32%
Other income
12
28
-57%
13
-8%
Total operating income
2,915
2,897
1%
2,952
-1%
Total operating expenses excl. reg. fees and write-offs**
-1,220
-1,196
2%
-1,174
4%
Total operating expenses
-1,417
-1,212
17%
-1,194
19%
Profit before loan losses
1,498
1,685
-11%
1,758
-15%
Net loan losses and similar net result
-83
-59
-33
Operating profit
1,415
1,626
-13%
1,725
-18%
Cost-to-income ratio excl. regulatory fees and write-offs**, %
41.9
41.3
39.8
Cost-to-income ratio*, %
50.6
44.0
42.4
Return on equity* excl. write-offs**, %
15.9
Return on equity*, %
14.1
16.3
17.9
Diluted earnings per share, EUR
0.31
0.35
-11%
0.38
-18%
4
*With amortised resolution fees
Nordea
** EUR 177m in intangible asset write-offs, primarily due to change in treatment of development costs related to digital servicesView entire presentation