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CEO Casper von Koskull’s comments on the results:
“2015 was a challenging year with exceptionally low interest rates, geopolitical tensions and market turmoil. Under these market conditions we are pleased to report an increase in the income level of 3% in local currencies[2]. We also delivered a reduction in costs to EUR 4.7bn, in line with our target, and credit quality improved during the year. Consequently, operating profit improved by 7%[2]. The Common Equity Tier 1 ratio improved 80 bps to 16.5%. The Board proposes a dividend per share of EUR 0.64 compared to the actual dividend of EUR 0.62 per share for 2014.
The coming three years will be a transition period in which we will execute on our transformational change agenda in order to generate a truly digital bank. We will initiate certain key activities to manage the transition efficiently, which led to a restructuring charge of EUR 263m in the fourth quarter. Together with the investments in our core banking platform, the outcome of this transformational agenda will lead to a more efficient and straightforward structure and reduce administrative complexity to the benefit of our customers, employees and investors, and enable us to become truly “One Nordea”.
Full year 2015 vs. Full year 2014 (Fourth quarter 2015 vs. Fourth quarter 2014)[1]: