Nordea raises return on equity goals to match Nordic peers [Reuters]
SWEDBANK AB S/ADR (SWDBY)
NASDAQ:AMEX Investor Relations:
swedbank.com/investor-relations
Company Research
Source: Reuters
on Monday and forecast a return on equity of above 15% in 2024 and 2025, in line with its regional rivals. Nordea and its peers such as SEB and Swedbank (SWEDa.ST) , opens new tab have been racking up hefty profits over the past two years on the back of soaring interest rates, which are expected to begin falling this year. "Our upgraded 2025 target reflects the significant structural improvements made across the group over the past four years, which support the delivery of high-quality earnings, with high profitability and low volatility," CEO Frank Vang-Jensen said in a statement. The Finnish lender said it is targeting a return on equity (RoE) of above 15% in 2024, and upped its 2025 target to 15% from 13%. The company said its full-year RoE increased to 16.9% in 2023 from 13.8% in 2022. Last month, SEB reported a full-year RoE of 17.9% for 2023 and said its long-term target is to reach 15%, similar to Swedbank, which targets "a return on equity of at least 15 per cent".
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News
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- Norway CPI Slows More Than Forecast, Backing September Cut [BNN Bloomberg (Canada)]BNN Bloomberg
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