Fourth-quarter Financial Highlights 2023
Supplementary information
Financial target 2025
Key assumptions underpinning plans
GDP growth*, %
3
2
1
0
-1
2023
2024
2025
Inflation*, %
10
32
8
6
4
2
0
2023
World
Sweden
60
154
4
Finland
3
Denmark
2
Norway
1
0
Policy rate forecast**, %
Q2 Q4
223
22
23
Q2
23 24
Q4 Q2 Q4
24
24
22
25
25
10
10
Unemployment rates*, %
8
Norway
6
World
Denmark
4
Sweden
2
Finland
0
2025
2022
2023
2024
2025
2024
* Q423 economic forecasts by Nordic central banks and ECB
**YE23 market rates
*** Q423 combined Nordea and central bank projections
*******
*****
•
Nordic lending market growth
~2% CAGR 2023-25
***
USD
NOK
SEK
•
Equity market return****
EUR
DKK
•
- +7.5% CAGR 2023-25
Fixed income market return*****
+4% CAGR 2023-25
Sweden
Finland
Norway
Denmark
Q423 Nordea estimate vetted against independent external reports
Q423 3M ESTER rate
NordeaView entire presentation