Interim Report Third Quarter 2002

Interim Report Third Quarter 2002 Stable overall development · Operating profit EUR 399m, up 18% compared to second quarter · Total income EUR 1,406m, down 1% on second quarter, showing growth in net interest income and reduced commission income · Total expenses unchanged compared to second quarter · Loan losses EUR 66m (EUR 56m) corresponding to 0.18% of loans, annualised · Operating profit from insurance hit by weak equity markets · Net profit of EUR 193m (EUR 107m) influenced by a further pension foundation allocation of EUR 120m Increased focus and speed · Lars G Nordström appointed new Group CEO · Changed composition of Group Executive Management · New unit, Group Processing and Technology, established to co- ordinate and speed-up the integration and unification to improve efficiency Continuous improvements of performance will be given top priority going forward · Credit portfolio - stable quality · Capital markets exposure - reduced volatility · Cost efficiency - improvement needed · Capital efficiency - strengthening the balance sheet · "The overall stable development in our business results despite difficult market conditions is of course positive, but going forward a higher cost efficiency and continued improvements of performance will be our top priority. Increased focus and speed in everything we do including integration and unification will contribute to improve efficiency and results", says Lars G Nordström, Group CEO of Nordea ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/10/22/20021022BIT00230/wkr0001.doc The Full Report http://www.waymaker.net/bitonline/2002/10/22/20021022BIT00230/wkr0002.pdf The Full Report

About Us

We build strong and close relationships through our engagement with customers and society. Whenever people strive to reach their goals and realise their dreams, we are there to provide relevant financial solutions. We are the largest bank in the Nordic region and among the ten largest financial groups in Europe in terms of total market capitalisation with around 11 million customers. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges. Read more about us on nordea.com.

Subscribe