Curious about Nordea net worth in 2024? We dive into the bank’s total assets, equity, profitability, and financial performance.
Ando Money brings you up-to-date insights, breaking down Nordea’s latest financial data and trends.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Nordea Bank Abp |
| Full Name | Nordea Bank Abp |
| Traded as | Nasdaq Helsinki, Nasdaq Stockholm, Nasdaq Copenhagen |
| ISIN | FI4000297767 |
| Founded | 2000 (mergers of Finnish, Swedish, Danish, Norwegian banks) |
| Founders | N/A |
| Country/Territory | Finland |
| Headquarters | Helsinki, Finland |
| Chief Executive Officer | Frank Vang-Jensen |
| Number of Employees | 29,153 (2024) |
| Market Cap | €126.1 billion ($137.8 billion) |
| Total Assets | €606.8 billion ($663.3 billion) |
| Total Equity | €30.4 billion ($33.2 billion) |
| Revenue | €3.03 billion ($3.31 billion) |
| Net Income | €1.3 billion ($1.42 billion) |
What is the Net Worth/ Market Cap Of Nordea in 2024?
In 2024, Nordea Bank stood strong with a market cap of €126.1 billion ($137.8 billion). This positions Nordea as one of the largest financial institutions in Europe, showcasing its influence in the banking sector.
The bank’s growth trajectory in recent years has been driven by its solid asset base, robust capital structure, and profitability.
Compared to other major banks, Nordea’s market cap is competitive, particularly within the Nordic financial markets.
However, on the global stage, larger banks like JPMorgan Chase and HSBC still surpass Nordea in terms of market capitalization.
Here are some other notable banks in comparison to Nordea:
- JPMorgan Chase
- HSBC
- Bank of America
- BNP Paribas
- Barclays
- Deutsche Bank
- ING Group
- Santander
- Danske Bank
For a comprehensive look at the world’s largest financial institutions, you can check out our list of the largest banks globally.
Nordea Financial Performance Overview
Total Assets and Equity
In 2024, Nordea’s total assets were reported at €606.8 billion ($663.3 billion). This substantial asset base reflects the bank’s strong standing in the Nordic region and the broader European financial market.
Meanwhile, total equity stood at €30.4 billion ($33.2 billion), further demonstrating Nordea’s ability to withstand market fluctuations and regulatory changes.
These figures contribute to the bank’s capacity to support both retail and corporate customers across various financial products and services.
Return on Equity and Profitability
Nordea’s return on equity (ROE) for Q2 2024 was a notable 17.9%, which speaks to its efficiency in generating returns on shareholder investments.
This performance is largely driven by the bank’s balanced approach to lending, risk management, and investment.
The strong ROE positions Nordea competitively against other major banks in the region and beyond.
Operating Profit and Net Interest Income
In terms of operating profit, Nordea reported €1.68 billion ($1.83 billion) for Q2 2024. Although this marked a slight decrease of 2% from the previous year, it reflects resilience amidst economic challenges.
One of the main contributors to the operating profit was the net interest income, which grew by 4% year-on-year to reach €1.9 billion ($2.08 billion).
This growth was fueled by improved lending margins and higher deposit volumes, showcasing Nordea’s strong positioning in both corporate and retail banking.
Assets Under Management and Customer Activity
A major highlight for Nordea in 2024 was the impressive growth in its assets under management (AUM), which reached €400.3 billion ($437.4 billion), reflecting a 10% increase from the previous year.
This was partly driven by the strong performance in Private Banking and Life & Pension sectors, where net flows were positive, totaling €1.9 billion.
The increase in AUM underscores Nordea’s success in retaining and attracting customers, especially in its wealth management divisions.
Loan and Credit Portfolio
Nordea’s loan portfolio remained stable, with total loans to the public standing at €346.9 billion ($379 billion). This includes a broad mix of mortgage and corporate lending.
However, the bank reported net loan losses of €68 million ($74.2 million) for the quarter, mainly due to specific corporate exposures.
Despite these challenges, Nordea’s credit quality remains solid, supported by effective risk management practices and a diversified loan book.
Capital Structure and CET1 Ratio
A significant factor contributing to Nordea’s financial stability is its strong Common Equity Tier 1 (CET1) ratio, which rose to 17.5% in Q2 2024, up from 17.2% in the previous quarter.
This improvement reflects Nordea’s disciplined approach to capital management and its ability to generate profit while meeting regulatory requirements.
The CET1 ratio ensures that the bank can absorb losses during periods of financial stress without compromising its operations.
Fee and Commission Income
Another important revenue driver for Nordea is its net fee and commission income, which increased by 6% year-on-year to reach €795 million ($870.2 million).
This growth was largely attributed to the bank’s success in areas such as savings, payments, cards, and advisory services.
These services continue to play a critical role in diversifying Nordea’s income streams beyond interest-related revenue.
Cost Efficiency and Technology Investments
Despite rising operational expenses due to salary inflation and technology investments, Nordea maintained a relatively stable cost-to-income ratio of 43%.
This stability indicates the bank’s ability to manage its operating expenses effectively while continuing to invest in digital infrastructure.
Nordea’s ongoing investments in technology and risk management are crucial to its strategy of enhancing customer experience and safeguarding against financial crime.
The Role of Deposits and Debt Securities
Nordea also benefited from increased deposit volumes, which rose by 5% year-on-year. Deposits from both corporate and retail clients contribute significantly to the bank’s liquidity and funding base.
Additionally, Nordea issued approximately €4.7 billion ($5.13 billion) in long-term funding during Q2 2024, further strengthening its liquidity position.
These elements underscore the bank’s solid approach to managing its funding needs while maintaining financial flexibility.
FAQs about Nordea
What is the market capitalization of Nordea?
As of 2024, the bank’s market capitalization is €126.1 billion ($137.8 billion).
How profitable is it in 2024?
The bank’s net income for Q2 2024 was €1.3 billion ($1.42 billion).
What are its main revenue drivers?
The bank’s primary revenue comes from net interest income (€1.9 billion) and net fee and commission income (€795 million).
How large is its loan portfolio?
In 2024, the bank’s loan portfolio reached €346.9 billion ($379 billion).
What is its assets under management (AUM)?
The bank’s assets under management grew to €400.3 billion ($437.4 billion) in 2024.
How many employees does Nordea have?
The bank employs approximately 29,153 individuals in 2024.
Where is Nordea headquartered?
The bank is headquartered in Helsinki, Finland.
Conclusion
Nordea’s financial performance in 2024 highlights its strength and profitability. Want to learn more about global banking giants? Explore more on andomoney.com and don’t forget to share or leave your thoughts in the comments!
