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Nordea Bank AB (NDA.ST)

NDA.ST on Stockholm Stock Exchange

100.50SEK
12 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Denmark announces changes to social housing financing model
Monday, 11 Dec 2017 

Dec 11 (Reuters) - DANISH HOUSING MINISTRY SAYS::IN NOVEMBER 2017 THE GOVERNMENT REACHED AN AGREEMENT WITH THE MORTGAGE BANKS ABOUT CHANGES TO THE EXISTING SOCIAL HOUSING FINANCING MODEL.THE CHANGES PERTAIN TO NEW AND EXISTING STATE SUPPORTED CONSTRUCTION LOANS AS WELL AS NEW AND EXISTING RENOVATION LOANS SUPPORTED BY LANDSBYGGEFONDEN.ADJUSTABLE-RATE MORTGAGE LOANS WITH A 10-YEAR INTEREST.FIXING PERIOD WILL BE USED TO FINANCE LOANS GRANTED UNDER THE NEW SET OF RULES .THE DANISH STATE EXPECTS TO PURCHASE NEW SOCIAL HOUSING MORTGAGE BONDS AND BONDS ISSUED BY KOMMUNEKREDIT FOR UP TO 42.5 BILLION DANISH CROWNS ($6.7 billion).IN 2018 THE STATE EXPECTS TO PURCHASE ALL THE NEW SOCIAL HOUSING MORTGAGE BONDS.BEFORE THE NEW SOCIAL HOUSING FINANCE MODEL WILL BE IMPLEMENTED IT REQUIRES AN APPROVAL OF THE FINANCE ACT OF 2018 BY A POLITICAL MAJORITY IN THE PARLIAMENT.​.THE LARGEST MORTGAGE LENDERS IN DENMARK ARE DANSKE BANK <<>>, NORDEA <<>>, NYKREDIT <<>> AND JYSKE BANK <<>>.($1 = 6.3158 Danish crowns).  Full Article

Nordea says CFO Ilkka to leave bank by end of Q1 2018
Wednesday, 15 Nov 2017 

Nov 15 (Reuters) - Nordea :Group CFO Heikki Ilkka to leave Nordea.Says ‍Heikki Ilkka will end his employment with Nordea by end of Q1 2018​.Says ‍a process to identify a new group CFO for Nordea Bank AB (publ) has been initiated​.Says ‍Ilkka has decided to leave Nordea to return to auditing and re-join ey as a partner​.  Full Article

Banks Nordea, DNB complete merger of their Baltic operations
Sunday, 1 Oct 2017 

Oct 1 (Reuters) - NORDEA AND DNB SAY::HAVE COMPLETED THE COMBINATION OF THEIR BALTIC OPERATIONS.AFTER RECEIVING ALL APPROVALS FROM RESPECTIVE REGULATORY BODIES, TRANSACTION CLOSED TODAY..THE RESULT OF MERGER, LUMINOR, WILL BE THIRD LARGEST FINANCIAL SERVICES PROVIDER IN BALTIC BANKING MARKET WITH A MARKET SHARE OF 16 PER CENT IN DEPOSITS AND 23 PERCENT IN LENDING..LUMINOR WILL COMPRISE NORDEA'S APPROXIMATELY 350,000 AND DNB'S 930,000 CUSTOMERS ACROSS THREE MARKETS. OPERATIONS WILL HAVE APPROXIMATELY 3,000 EMPLOYEES AND APPROXIMATELY EUR 15BN IN ASSETS..TOTAL GROSS LENDING OF LUMINOR PORTFOLIO WILL AMOUNT TO APPROXIMATELY EUR 12BN INCLUDING BOTH CONSUMER AND CORPORATE LENDING AND DEPOSITS WILL TOTAL EUR 9BN.LUMINOR WILL HAVE A COMMON EQUITY TIER 1 CAPITAL RATIO OF 17 PER CENT AND A COMMON EQUITY TIER 1 CAPITAL OF EUR 1.6BN..NORDEA WILL HOLD 56 PER CENT OF ECONOMIC RIGHTS AND 50 PER CENT OF VOTING RIGHTS OF NEW COMPANY. IN NORDEA'S RESULTS, LUMINOR WILL BE ACCOUNTED FOR USING EQUITY METHOD FROM Q4 2017..  Full Article

Swedish FSA says Nordea needs to hold more capital
Monday, 3 Oct 2016 

Sweden's Financial Supervisory Authority, on Nordea capital requirements: Swedish FSA says Nordea's probability of default estimate needs to be raised to an extent that corresponds to an additional own funds requirement of 13.8 billion Swedish crowns ($1.62 billion) (eur 1.47 billion), of which SEK 11.0 billion crowns shall consist of CET Tier 1 capital . Says Nordea investigation has not been concluded yet; to date Finansinspektionen has only sent a first verification letter to the bank outlining the government agency's preliminary assessments .Says until Nordea rectifies the identified deficiencies in its internal models, the bank must provide additional capital corresponding to the above amount as part of its Pillar II capital requirements.  Full Article

Gjensidige Forsikring issue NOK 1 bln bond
Monday, 29 Aug 2016 

Gjensidige Forsikring Asa : successful placement of restricted tier 1 bond issue . Today issued a perpetual restricted tier 1 bond amounting to nok 1,000 million with a coupon of 3m nibor + 3.60 percentage points p.a. and with a call option for issuer after five years . Bond fulfills regulatory requirements as tier 1 eligible capital under solvency ii and achieves intermediate equity content under s&p rating model .Dnb markets and nordea markets were advisors and managers for transaction.  Full Article

Nordea completes 8.4 bln EUR corporate and SME loan securitisation
Wednesday, 24 Aug 2016 

Nordea Bank Ab : Nordea Bank AB ("Nordea") has announced that it has entered into a synthetic risk transfer trade related to EUR 8.4bn of Nordea's loan portfolio . Under the transaction, investors have agreed to invest in notes linked to the junior credit risk of the portfolio . The selected portfolio consists of approximately EUR 8.4bn in corporate and SME loans from over 3,000 borrowers across Sweden and Denmark, spread across a wide range of industries and asset classes .No specific industry class was targeted for the transaction.  Full Article

Nordea Q2 operating profit tops forecast
Wednesday, 20 Jul 2016 

Nordea : Q2 net loan losses 127 million euros versus mean forecast 132 million in Reuters poll . Q2 net commission income 804 million euros versus mean forecast 800 million in Reuters poll . Q2 net interest income 1.17 billion euros versus mean forecast 1.18 billion forecast in Reuters poll .Q2 operating profit 1.22 billion euros versus mean forecast 1.16 billion in reuters poll.  Full Article

Swedish FSA says Nordea capital need overstated in report
Tuesday, 21 Jun 2016 

Nordea Bank AB : Swedish FSA says in its May 26 stability report assessed that Nordea as well as other major banks easily meet capital current requirements . FSA says, as previously announced, is evaluating the major Swedish banks' internal models and has made clear this will result in higher capital requirements . Swedish FSA says as can be currently assessed any need for additional capital at Nordea would be significantly lower than newspaper Svenska Dagbladet (SvD) reported . SvD, citing sources, reported an internal document at Sweden's financial watchdog shows Nordea underestimated risks in its corporate lending and could need as much as 80 billion Swedish crowns ($9.70 billion) in new capital .A spokesman at Nordea said the Nordic region's biggest bank had more than fulfilled capital requirements in the financial watchdog's latest assessment.  Full Article

BRIEF-Denmark announces changes to social housing financing model

* IN NOVEMBER 2017 THE GOVERNMENT REACHED AN AGREEMENT WITH THE MORTGAGE BANKS ABOUT CHANGES TO THE EXISTING SOCIAL HOUSING FINANCING MODEL