|Bid||93.76 x 0|
|Ask||93.80 x 0|
|Day's Range||93.62 - 94.20|
|52 Week Range||82.92 - 111.30|
|PE Ratio (TTM)||109.44|
|Forward Dividend & Yield||6.93 (8.08%)|
|1y Target Est||9.59|
The only big bank that managed to cut costs also happens to be behind one of the industry’s boldest plans to replace humans with automation. Nordea Bank AB, whose Chief Executive Officer Casper von Koskull says his industry might only have half its current human workforce a decade from now, is cutting 6,000 of those jobs. Von Koskull says the adjustment is the only way to stay competitive in the future, with automation and robots taking over from people in everything from asset management to answering calls from retail clients.
The biggest Nordic bank is considering taking on the European Union’s top markets regulator after being handed a fine for providing credit ratings without a license. Nordea Bank AB, together with four other major Nordic banks, was called out by the European Securities and Markets Authority for selling so-called shadow ratings to corporate clients without permission. Nordea said on Monday that it discontinued shadow ratings in 2016, “although we disagree with ESMA” on the interpretation of the rules.
The wealth management unit of Nordea Bank AB will struggle to reach a target of generating as much as 5 percent in net new money this year after a tough first half, according to its head, Snorre Storset. “We have a long-term target of net flows with 4-5 percent growth from the start of the year,” Storset said in an interview in Oslo on Thursday. Much of the lull in demand for Nordea’s wealth management services can be traced back to its Stable Return Fund.
Nordea (NDA.ST) beat quarterly forecasts helped by cost cuts on Thursday, sending shares in the biggest Nordic bank higher despite its warning that like-for-like 2018 revenue would likely fall. Nordea shares were up 2.7 percent at 0900 GMT as traders focused on the earnings rather than the revenue forecast. Swedish banking stocks have been dented over the past year by worries over a slump in Sweden's housing market and niche players taking market share in mortgages, weighing on lending margins.
Nordea's head of group sustainable finance Sasja Beslik said the company's sustainability funds will not invest in Facebook shares anymore. The executive cited the social media company's "lack of accountability over data security/data sharing infrastructure of the platform, lack of transparency and a reactive behavior combined with increased scrutiny from regulators and stakeholders" as reasons for the decision. The sustainability practice of a large European asset management firm is banning investments in Facebook FB shares.
Facebook Inc. should be excluded from the holdings of money managers serious about ethical investing, says the head of sustainable funds at the biggest Nordic bank. Sasja Beslik, who oversees sustainable finance within Nordea Bank AB’s $370 billion asset management unit, decided this week to divest holdings of the social networking giant. The move was provoked by what he characterized as an “unresponsive” approach by Facebook to Nordea’s queries on how the Cambridge Analytica scandal was being handled.
The Nordea funds that blacklisted Facebook Inc. for privacy risks are now questioning the social media giant’s decision to expand into a dating service that will rely on highly sensitive personal information being shared. “Facebook needs 3 years to fix the data and privacy issues, but just found time to launch a dating feature and take on Tinder,” Sasja Beslik, head of sustainable investing at Nordea Asset Management, wrote on Twitter.
Nordea Bank AB has been losing mortgage customers in Sweden for five consecutive months, marking an unprecedented development at the biggest Nordic lender.
About 30 finance professionals well versed in bank regulations are urgently needed to help Finland prepare for the arrival of a global systemically important bank this year.
Nordea Bank AB won enough support from its shareholders for its proposed move to Helsinki from Stockholm, paving the way for the Nordic region’s largest bank to join Europe’s banking union.
Nordea Bank AB is looking likely to win enough backing from shareholders to proceed with its proposed move to Helsinki from Stockholm, paving the way for the largest Nordic lender to join Europe’s banking ...
Finland is promising it won’t add to the list of financial regulations facing Nordea Bank AB as the lender prepares to move its headquarters to the northernmost euro member.
Nordic banks have been unable to topple the dominance of Wall Street when it comes to arranging the region’s deals.
Nordea Bank AB suffered a setback on Monday after an umbrella group for thousands of smaller shareholders said it opposes the lender’s plan to move its headquarters from Stockholm.
European shares opened in negative territory on Thursday as investors wait to see how the European Central Bank will react to a fast-rising euro and a faltering dollar. The pan-European STOXX 600 index ...
Nordea Bank AB, one of the biggest lenders to publicly embrace complex capital relief deals, has cooled on such transactions as new management focuses on the bank’s costs, people familiar with the matter ...
Nordea Bank AB is targeting a fourfold increase in the number of clients receiving investment advice. To achieve that goal, it’s using a robo-adviser.
Nordea Bank AB will approach about 500 employees in Finland on Friday as it starts acting on a program announced in October to cut thousands of jobs.