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Nordea Bank Abp

BST:NBZF
Snowflake Description

Mediocre balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NBZF
BST
DKK384B
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

Nordea Bank Abp provides various banking products and services for personal customers, small and medium business, and corporates and financial institutions in Europe. The last earnings update was 82 days ago. More info.


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NBZF Share Price and Events
Price Volatility
NBZF
Industry
5yr Volatility vs Market

Value

 Is Nordea Bank Abp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Nordea Bank Abp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Nordea Bank Abp.

BST:NBZF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 19 analysts.
= Stable Book Value * Return on Equity
= €7.70 * 10.1%
€0.78
Book Value of Equity per Share Median Book Value from the past 5 years. €7.70
Discount Rate (Cost of Equity) See below 9.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BST:NBZF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 9.5%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.4
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.397 (1 + (1- 20%) (470.6%))
0.966
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (0.966 * 9.46%)
9.68%

Discounted Cash Flow Calculation for BST:NBZF using Excess Returns Model Model

The calculations below outline how an intrinsic value for Nordea Bank Abp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

BST:NBZF Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.1% – 9.68%) * €7.70)
€0.03
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €0.03 / (9.68% - 0.54%)
€0.35
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €7.70 + €0.35
€8.04
BST:NBZF Discount to Share Price
Calculation Result
Exchange Rate EUR/DKK
(Reporting currency to currency of BATS-CHIXE:NDAC)
7.46
Value per Share
(DKK)
= Value per Share in EUR x Exchange Rate (EUR/DKK)
= €8.04 x 7.46
DKK59.99
Non-primary Listing Adjustment Factor 1 share in BST:NBZF represents 0.13374x of BATS-CHIXE:NDAC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.13374x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (DKK) x Listing Adjustment Factor
= DKK 59.99 x 0.13374
€8.02
Value per share (EUR) From above. €8.02
Current discount Discount to share price of €9.38
= -1 x (€9.38 - €8.02) / €8.02
-16.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Nordea Bank Abp is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Nordea Bank Abp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Nordea Bank Abp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:NBZF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €0.83
BATS-CHIXE:NDAC Share Price ** BATS-CHIXE (2018-10-02) in DKK DKK70.1
BATS-CHIXE:NDAC Share Price converted to EUR reporting currency Exchange rate (DKK/ EUR) 0.134 €9.4
Germany Banks Industry PE Ratio Median Figure of 7 Publicly-Listed Banks Companies 13.67x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 18.44x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Nordea Bank Abp.

BST:NBZF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BATS-CHIXE:NDAC Share Price ÷ EPS (both in EUR)

= 9.4 ÷ 0.83

11.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nordea Bank Abp is good value based on earnings compared to the DE Banks industry average.
  • Nordea Bank Abp is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Nordea Bank Abp's expected growth come at a high price?
Raw Data
BST:NBZF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts
2.2%per year
Europe Banks Industry PEG Ratio Median Figure of 109 Publicly-Listed Banks Companies 1.02x
Germany Market PEG Ratio Median Figure of 275 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

BST:NBZF PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.31x ÷ 2.2%

5.07x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nordea Bank Abp is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Nordea Bank Abp's assets?
Raw Data
BST:NBZF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €7.92
BATS-CHIXE:NDAC Share Price * BATS-CHIXE (2018-10-02) in DKK DKK70.1
BATS-CHIXE:NDAC Share Price converted to EUR reporting currency Exchange rate (DKK/ EUR) 0.134 €9.4
Germany Banks Industry PB Ratio Median Figure of 7 Publicly-Listed Banks Companies 0.89x
Germany Market PB Ratio Median Figure of 580 Publicly-Listed Companies 1.96x
BST:NBZF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BATS-CHIXE:NDAC Share Price ÷ Book Value per Share (both in EUR)

= 9.4 ÷ 7.92

1.19x

* Primary Listing of Nordea Bank Abp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nordea Bank Abp is overvalued based on assets compared to the DE Banks industry average.
X
Value checks
We assess Nordea Bank Abp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Nordea Bank Abp has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Nordea Bank Abp expected to perform in the next 1 to 3 years based on estimates from 19 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Nordea Bank Abp expected to grow at an attractive rate?
  • Nordea Bank Abp's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Nordea Bank Abp's earnings growth is positive but not above the Germany market average.
  • Nordea Bank Abp's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
BST:NBZF Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:NBZF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts 2.2%
BST:NBZF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts 1.3%
Germany Banks Industry Earnings Growth Rate Market Cap Weighted Average 11.3%
Germany Banks Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BST:NBZF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:NBZF Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 9,639 3,506 13
2019-12-31 9,376 3,295 14
2018-12-31 9,427 3,344 14
BST:NBZF Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 9,047 -31,645 3,353
2018-03-31 8,839 -27,737 3,008
2017-12-31 8,908 4,532 3,031
2017-09-30 9,035 16,901 3,507
2017-06-30 9,072 32,912 3,567
2017-03-31 9,306 31,665 3,823
2016-12-31 9,129 19,448 3,766
2016-09-30 9,301 28,391 3,514
2016-06-30 9,111 24,001 3,406
2016-03-31 9,069 25,755 3,362
2015-12-31 9,515 17,963 3,662
2015-09-30 9,302 19,503 3,691

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Nordea Bank Abp's earnings are expected to grow by 2.2% yearly, however this is not considered high growth (20% yearly).
  • Nordea Bank Abp's revenue is expected to grow by 1.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BST:NBZF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below

All data from Nordea Bank Abp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:NBZF Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
2018-12-31
BST:NBZF Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30 0.83
2018-03-31 0.74
2017-12-31 0.75
2017-09-30 0.87
2017-06-30 0.88
2017-03-31 0.95
2016-12-31 0.93
2016-09-30 0.87
2016-06-30 0.84
2016-03-31 0.83
2015-12-31 0.91
2015-09-30 0.92

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Nordea Bank Abp is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Nordea Bank Abp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Nordea Bank Abp has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Nordea Bank Abp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Nordea Bank Abp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Nordea Bank Abp's year on year earnings growth rate has been positive over the past 5 years.
  • Nordea Bank Abp's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Nordea Bank Abp's 1-year earnings growth is negative, it can't be compared to the DE Banks industry average.
Earnings and Revenue History
Nordea Bank Abp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Nordea Bank Abp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:NBZF Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 9,047.00 3,353.00 4,919.00
2018-03-31 8,839.00 3,008.00 5,056.00
2017-12-31 8,908.00 3,031.00 5,097.00
2017-09-30 9,035.00 3,507.00 5,053.00
2017-06-30 9,072.00 3,567.00 5,032.00
2017-03-31 9,306.00 3,823.00 4,947.00
2016-12-31 9,129.00 3,766.00 4,879.00
2016-09-30 9,301.00 3,514.00 5,023.00
2016-06-30 9,111.00 3,406.00 4,948.00
2016-03-31 9,069.00 3,362.00 4,927.00
2015-12-31 9,515.00 3,662.00 4,937.00
2015-09-30 9,302.00 3,691.00 4,707.00
2015-06-30 9,808.00 3,849.00 4,776.00
2015-03-31 9,852.00 3,603.00 4,994.00
2014-12-31 9,462.00 3,357.00 5,050.00
2014-09-30 9,712.00 3,240.00 5,107.00
2014-06-30 9,277.00 3,067.00 5,164.00
2014-03-31 9,056.00 3,162.00 5,017.00
2013-12-31 9,156.00 3,107.00 5,040.00
2013-09-30 9,070.00 3,164.00 5,052.00
2013-06-30 8,991.00 3,081.00 5,084.00
2013-03-31 9,028.00 3,087.00 5,087.00
2012-12-31 9,103.00 3,062.00 5,064.00
2012-09-30 9,095.00 3,030.00 5,206.00
2012-06-30 8,903.00 2,752.00 5,182.00
2012-03-31 8,768.00 2,643.00 5,198.00
2011-12-31 8,766.00 2,627.00 5,219.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Nordea Bank Abp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Nordea Bank Abp used its assets more efficiently than the DE Banks industry average last year based on Return on Assets.
  • Nordea Bank Abp's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Nordea Bank Abp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Nordea Bank Abp has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Nordea Bank Abp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Nordea Bank Abp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Nordea Bank Abp Company Filings, last reported 3 months ago.

BST:NBZF Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 31,945.00 242,429.00 82,535.00
2018-03-31 31,056.00 255,957.00 80,812.00
2017-12-31 33,316.00 239,280.00 108,430.00
2017-09-30 32,298.00 254,745.00 120,534.00
2017-06-30 31,395.00 269,175.00 136,935.00
2017-03-31 31,077.00 279,648.00 144,488.00
2016-12-31 32,410.00 277,309.00 131,043.00
2016-09-30 31,070.00 282,554.00 139,880.00
2016-06-30 30,143.00 325,600.00 177,977.00
2016-03-31 29,128.00 340,408.00 174,907.00
2015-12-31 31,032.00 302,655.00 153,366.00
2015-09-30 29,984.00 346,770.00 140,177.00
2015-06-30 29,809.00 351,185.00 136,942.00
2015-03-31 28,472.00 331,048.00 174,555.00
2014-12-31 29,837.00 327,259.00 189,566.00
2014-09-30 29,786.00 286,910.00 128,090.00
2014-06-30 28,846.00 265,364.00 115,579.00
2014-03-31 28,237.00 259,092.00 112,034.00
2013-12-31 29,209.00 259,805.00 104,724.00
2013-09-30 28,632.00 260,643.00 110,413.00
2013-06-30 27,871.00 255,348.00 117,179.00
2013-03-31 27,415.00 289,682.00 139,339.00
2012-12-31 28,005.00 307,848.00 154,138.00
2012-09-30 27,520.00 345,531.00 194,595.00
2012-06-30 26,774.00 351,022.00 187,318.00
2012-03-31 25,964.00 341,608.00 186,066.00
2011-12-31 26,120.00 355,117.00 175,493.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Nordea Bank Abp has an acceptable proportion of non-loan assets held.
  • Nordea Bank Abp's liabilities are made up of primarily higher risk sources of funding.
  • Nordea Bank Abp has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Nordea Bank Abp's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Nordea Bank Abp has a low allowance for bad loans.
  • Nordea Bank Abp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Nordea Bank Abp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Nordea Bank Abp has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Nordea Bank Abp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Nordea Bank Abp dividends.
If you bought €2,000 of Nordea Bank Abp shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Nordea Bank Abp's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Nordea Bank Abp's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BST:NBZF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
Germany Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 333 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BST:NBZF Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
2018-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Nordea Bank Abp has not reported any payouts.
  • Unable to verify if Nordea Bank Abp's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Nordea Bank Abp's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Nordea Bank Abp has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Nordea Bank Abp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Nordea Bank Abp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Nordea Bank Abp has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Nordea Bank Abp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Casper von Koskull, image provided by Google.
Casper von Koskull
COMPENSATION €2,521,470
AGE 58
TENURE AS CEO 2.9 years
CEO Bio

Mr. Casper von Koskull has been the Group Chief Executive Officer of Nordea Bank AB (publ) since November 1, 2015 and has been its President since November 5, 2015. Mr. von Koskull has been a Member of Group Executive Management at Nordea Bank AB (publ) since 2010. Mr. von Koskull served as Vice Chairman at Nordea Bank Finland Plc since August 13, 2012 until January 26, 2016. He served as Head of Wholesale Banking at Nordea Pankki Suomi Oyj. He served as the Head of Wholesale Banking of Nordea Bank AB from 2010 to 2015 and served as its Executive Vice President. He served as Vice President Nordic Coverage Citicorp Investment Bank, Ltd, since 1987 until 1990. He served as Head of Corporate Merchant Banking & Capital Markets at Nordea Bank AB since December 2010 and also served as its Head of Markets Investment Banking. He served as Head of Derivatives Marketing and Structuring for German Corporate Clients, Citibank, Frankfurt since 1992 until 1994. He has responsibility for Corporate Merchant Banking and Capital Markets. He served as Head of Corporate Merchant Banking & Capital Markets of Nordea Nordea Pankki Suomi Oyj. For the last 12 years, he has been with Goldman Sachs, most recently as Managing Director and Partner of Goldman Sachs International and head of the Nordic Investment Banking since 1998 until 2010. He was Vice President Leverage Finance, Citibank, New York since 1990 until 1992. He has been a Director of Nordea Pankki Suomi Oyj since September 1, 2010. He served as a Director of Nordea Bank Finland Plc. since September 1, 2010 until January 26, 2016.He served as Managing Director of Nordic Investment Banking, UBS London since 1994 until 1998. Mr. Von Koskull served as a Director of ISS A/S (aka ISS World Services A/S) from December 2009 to August 25, 2010 and ISS Holding A/S from December 12, 2009 to August 25, 2010. He served as a Director of ISS Equity A/S until August 25, 2010. He was Account Manager of Citibank, Helsinki since 1984 until 1987.

CEO Compensation
  • Casper's compensation has been consistent with company performance over the past year.
  • Casper's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Nordea Bank Abp management team in years:

2.3
Average Tenure
52.5
Average Age
  • The tenure for the Nordea Bank Abp management team is about average.
Management Team

Casper von Koskull

TITLE
President & Group CEO
COMPENSATION
€3M
AGE
58
TENURE
2.9 yrs

Torsten Jørgensen

TITLE
Head of Group Corporate Centre
COMPENSATION
€2M
AGE
53
TENURE
2.9 yrs

Chris Rees

TITLE
Group CFO
AGE
46
TENURE
0.6 yrs

Jussi Koskinen

TITLE
Chief Legal Officer & Member of Management Board
TENURE
0.1 yrs

Paul Bari

TITLE
Group CIO and Head of Group Technology
TENURE
1.7 yrs

Rodney Alfvén

TITLE
Head of Investor Relations
TENURE
8.9 yrs

Matthew Elderfield

TITLE
Chief Compliance Officer & Head of Group Compliance
AGE
52

Sara Helweg-Larsen

TITLE
Head of Group Communications
TENURE
1.4 yrs

Helena Andreas

TITLE
Head of Group Marketing & Communications
AGE
43
TENURE
4.3 yrs

Karen Tobiasen

TITLE
Chief People Officer & Head of Group Human Resources
AGE
53
Board of Directors Tenure

Average tenure and age of the Nordea Bank Abp board of directors in years:

3.6
Average Tenure
54
Average Age
  • The tenure for the Nordea Bank Abp board of directors is about average.
Board of Directors

Björn Wahlroos

TITLE
Chairman of the Board
COMPENSATION
€320K
AGE
66
TENURE
7.6 yrs

Lars Nordström

TITLE
Vice Chairman of the Board
COMPENSATION
€158K
AGE
75
TENURE
1.6 yrs

Sarah Russell

TITLE
Director
COMPENSATION
€135K
AGE
56
TENURE
8.6 yrs

Robin Lawther

TITLE
Director
COMPENSATION
€125K
AGE
57
TENURE
4.6 yrs

Birger Steen

TITLE
Director
COMPENSATION
€135K
AGE
52
TENURE
3.6 yrs

Nigel Hinshelwood

TITLE
Director
AGE
52
TENURE
0.6 yrs

Hans Krogh Riise

TITLE
Employee Representative Director
AGE
57
TENURE
5.8 yrs

Silvija Seres

TITLE
Director
COMPENSATION
€120K
AGE
48
TENURE
3.6 yrs

Gerhard Olsson

TITLE
Employee Representative Director
AGE
40
TENURE
0.8 yrs

Pernille Erenbjerg

TITLE
Director
COMPENSATION
€94K
AGE
51
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Value (USD)
X
Management checks
We assess Nordea Bank Abp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Nordea Bank Abp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

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Company Info

Map
Description

Nordea Bank Abp provides various banking products and services for personal customers, small and medium business, and corporates and financial institutions in Europe. It operates through Personal Banking, Commercial & Business Banking, Wholesale Banking, and Wealth Management segments. It offers investment solutions, including fixed income, equity, and multi asset; cash management solutions; a range of asset finance, sales finance, and receivable finance solutions, as well as wholesale financing and management, and fleet management services. The company also provides securities services, such as custody services, including clearing, settlement, and safekeeping of domestic and foreign securities; administrates and processes corporate action events, paying agent, registrar services, equity incentive plans, and others; and sub-custody services, including account opening, settlements, income collection, taxation, corporate actions, proxy voting, reporting, and market advocacy. In addition, it offers life and pensions products; trade finance services; leasing and hire purchase products; and online and mobile services. It has approximately 450 branches. The company was founded in 1820 and is headquartered in Helsinki, Finland.

Details
Name: Nordea Bank Abp
NBZF
Exchange: BST
Founded: 1820
DKK51,515,016,045
4,037,460,272
Website: http://www.nordea.com
Address: Nordea Bank Abp
Satamaradankatu 5,
Nordea,
Helsinki,
Uusimaa, 00020,
Finland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BATS-CHIXE NDAC Ordinary Shares BATS 'Chi-X Europe' GB DKK 15. Dec 1997
OTCPK NRDB.Y SPONSORED ADS Pink Sheets LLC US USD 22. Oct 2008
DB NBZF FDR EACH REP ONE ORD SHARE Deutsche Boerse AG DE EUR 01. Feb 2000
BST NBZF FDR EACH REP ONE ORD SHARE Boerse-Stuttgart DE EUR 01. Feb 2000
Number of employees
Current staff
Staff numbers
29,271
Nordea Bank Abp employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/10/09 18:55
End of day share price update: 2018/10/02 00:00
Last estimates confirmation: 2018/10/03
Last earnings filing: 2018/07/19
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.