Year-end Report 2001
Year-end Report 2001 Sharp improvement in the fourth quarter · Operating profit increased by EUR 240m to EUR 468m · Profit excluding investment earnings up 10% · Investment earnings up EUR 207m Stable result under challenging market conditions in 2001 · Total income up 3% and expenses unchanged adjusted for acquisitions · Net annual loan losses 0.29% against target of maximum 0.40% over a business cycle · Earnings per share EUR 0.53 (EUR 0.58 in 2000) · Return on equity excluding goodwill 19.2% (19.4%) · Dividend of EUR 0.23 per share proposed Significant strategic progress · Target of 2.7 million e-banking customers achieved, new target of 3.2 million by the end of 2002 · Accumulated merger synergies of EUR 168m have been realised by the end of 2001 - EUR 360m will be delivered by the end of next year · A second wave of integration programme will result in additional annual synergies of the same magnitude within a three-year period · In addition, estimated synergies from integrating Postgirot Bank increased to EUR 65m · The entire Group is now operating under one common brand · "Having delivered promised merger synergies despite difficult market conditions the ambition is now set to harvest the full potential of working as an integrated group in order to achieve our ambitious long term goals. With a strong focus on conducting business locally we will further tap growth opportunities, streamline support processes and procedures and thereby improve efficiency and performance of the Group", says Thorleif Krarup, Group CEO of Nordea. Thursday 21 February 2002 Thorleif Krarup Group Chief Executive Officer - A conference call with management will be arranged on 21 February 2002 at 5:00 pm, local time Stockholm. (Please dial + 46 8 5005 2550, 10 minutes in advance.) - This year-end report is available on the Internet. - A slide presentation is available on the Internet. - For further information: Arne Liljedahl, Group +46 8 614 (or +46 70 566 CFO/EVP 7996 7121) Sigurd Carlsen, Head of +46 8 614 (or +46 70 204 Investor Relations 7852 9878) Erik Evrén, Head of Group +46 8 614 (or +46 70 946 Media Relations 8611 5389) Financial calendar: The Annual General Meeting will be held on 24 April. The interim report for the first quarter 2002 will be published on 24 April. Capital markets day will be arranged in London on 29 April The interim report for the second quarter 2002 will be published on 22 August. The interim report for the third quarter 2002 will be published on 22 October. The full Annual Report will be available in English on the Internet around 1 March. This report is published in four additional language versions; Danish, Finnish, Norwegian and Swedish. In the event of any inconsistencies between those language versions and this English version, the English version shall prevail. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/21/20020221BIT00270/bit0001.doc The Full year-end Report http://www.waymaker.net/bitonline/2002/02/21/20020221BIT00270/bit0001.pdf The Full year-end Report