Nordea publishes restated financial statements for the four quarters of 2018
Nordea Bank Abp – Stock exchange release – Other information disclosed according to the rules of the Exchange
In relation to the change of accounting policy for resolution fees as of Q1 2019 and onwards, and to ensure comparability between 2019 and 2018 financial statements, Nordea restates financial numbers for the four quarters of 2018, which are published on nordea.com.
With reference to the stock exchange release published 5 April 2019 “Nordea to change its accounting policy for resolution fees” and the presented change in accounting policy as of Q1 2019 and onwards, as well as to ensure comparability between 2019 and 2018 financial statements, Nordea restates financial numbers for each of the four quarters of 2018.
The restatements primarily affect the financial numbers for net interest income, other expenses and net profit for each of the four quarters of 2018. The restatements imply changes compared to previously presented financial statements between line items and between quarters, and hence there is no impact on Nordea’s net profit for the full year 2018 or RoE.
The change of accounting policy implies that as of Q1 2019 and onwards the resolution fees will be expensed up front in the first quarter of each year and will be presented under “Other expenses” in the financial reporting. This is conducted in accordance with Finnish requirements due to the re-domiciliation of Nordea from Sweden to Finland on 1 October 2018.
The restated financial numbers for the four quarters of 2018 have been published on www.nordea.com on the following link:
For further information:
Andreas Larsson, Head of Debt Investor Relations, +46 709 707555
The information provided in this stock exchange release was submitted for publication through the agency of the contact person set out above, at 10.00 CET on 15 April 2019.
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