Nordea has published its Annual Report and Sustainability Report on Nordea.com.
The Annual Report describes the activities in 2015, a challenging year with exceptionally low and even negative interest rates, geopolitical tensions and market turmoil. Under these market conditions Nordea are pleased to report a three per cent increase in the income level in local currencies and excluding one-offs. Nordea also delivered a reduction in costs which improved the cost to income ratio to the all-time low level. Credit quality improved during the year to strongest level since 2007. As a consequence the operating profit improved by 7%.
During the year digitalisation increasingly made a significant impact on business in Retail Banking. Nordea customers’ usage of online and mobile solutions is growing rapidly, both among households and corporates.
Read the full summary and download the reports here.