NDA DKK Nordea Bank AB

Delisting of Certificates

Delisting of Certificates

Nordea Bank Abp, as the issuer, has determined to delist below. The instruments will be delisted end of trading 2021-11-05.

ISIN
FI4000481544
FI4000435912
FI4000456546
FI4000036934
FI4000036991
FI4000037056
FI4000040191
FI4000040209
FI4000040241
FI4000047436
FI4000047444
FI4000047469
FI4000047485
FI4000047535
FI4000047543
FI4000047584
FI4000047600
FI4000047618
FI4000047667
FI4000047675
FI4000052063
FI4000070685
FI4000070693
FI4000070743
FI4000070784
FI4000050406
FI4000050232
FI4000050240
FI4000050463
FI4000050299
FI4000050489
FI4000050307
FI4000050315
FI4000050224
FI4000050539
FI4000050364
FI4000050554
FI4000050380
FI4000050497
FI4000050414
FI4000050323
FI4000050430
FI4000050448
FI4000050356
FI4000050257
FI4000050505
FI4000050521
FI4000050422
FI4000050547
FI4000050588
FI4000050596
FI4000050612
FI4000050620
FI4000050638
FI4000166533
FI4000166566
FI4000166574
FI4000197397
FI4000197405
FI4000197439
FI4000197421
FI4000197447
FI4000197454
FI4000231121
FI4000456306
FI4000456371
FI4000463146
FI4000463138
FI4000473665

Attachment



EN
25/10/2021

Underlying

NDA DKKNordea Bank AB

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Reports on Nordea Bank AB

Nicolas McBeath
  • Nicolas McBeath
Free Trial
NDA DKK NORDEA BANK AB

Nordea (Buy, TP: SEK155.00) - Resilient returns at a discount

Nordea’s Q1 was a robust quarter, with a resilient >15% ROE on a strong capital position (200bp management buffer) underpinning Nordea’s widening ROE lead versus its peers. We have raised our 2025–2027e EPS by 3–4% and our target price to SEK155 (148). Nordea is trading at a c15% P/E discount to its Swedish large bank peers, which we find unjustified given its superior ROE versus the peer group. We reiterate our BUY.

04/16/25 April 16, 2025 1 EN
Nicolas McBeath
  • Nicolas McBeath
Free Trial
SWED A Swedbank AB Cla...
NDA DKK NORDEA BANK AB ... (+4)

Q1 previews

We see near-term downside risk to NII forecasts, and expect declines to intensify in Q1 as timing effects reverse. Still, we continue to see solid value in the sector and believe recent sell-offs on tariff concerns present attractive buying opportunities, as the market again seems to fail to appreciate the earnings resilience of the Swedish banks. We have cut our 2025–2026e EPS by c5% and our target prices by c15% on average (also reflecting the stocks are trading ex-dividend for 2024). We expec...

SWED A SWEDBANK AB CLASS A
NDA DKK NORDEA BANK AB
SEB A SKANDINAVISKA ENSKILDA BANKEN AB CLASS A
SHB SVENSKA HANDELSBANKEN
04/09/25 April 9, 2025 1 EN
 PRESS RELEASE
Free
NDA DKK NORDEA BANK AB

Ändring av underliggande

Ändring av underliggande Ändring av underliggande Med anledning av Millicom International Cellulars kommande avnotering från Nasdaq Stockholm kommer Nordea den 17 mars 2025 ändra den underliggande tillgången för de certifikat som anges i [Bilaga A] till Millicom International Cellular, som är noterad på Nasdaq Global Select i USA. Som en följd av att den nya underliggande tillgången är noterad i USA kommer handelstiderna ändras från 09.00-17.25 till 15.30-21.55 och Nordea gör följande övriga ändringar i de slutliga villkoren för de berörda certifikaten: FältÄndras frånÄndras tillValuation...

March 7, 2025 1 EN
Nicolas McBeath
  • Nicolas McBeath
Free Trial
NDA DKK NORDEA BANK AB

Nordea (Buy, TP: SEK171.00) - Robust capital generation

We view Nordea’s Q4 report as solid, with a >14% ROE and encouraging deposit and asset management volume trends. Our slightly raised 2025-2026 profit estimate forecast c15% ROE. We expect the attractive capital generation and paves the way for robust annual total yields of >10% across our forecast period. Given the healthy profitability outlook, we also find the P/BV of just 1.2x too low. We reiterate our BUY, and have raised our target price to SEK171 (167).

01/30/25 January 30, 2025 1 EN
Nicolas McBeath
  • Nicolas McBeath
Free Trial
SWED A Swedbank AB Cla...
NDA DKK NORDEA BANK AB ... (+4)

Let the yield lead the way

Let the yield lead the way In advance of the Q4 results, we see the best risk/reward in Handelsbanken and less attractive risk/reward in SEB, partly due to our expectations of dividend proposals versus consensus. We have made mostly modest adjustments to our estimates and target prices ahead of the Q4 results. Despite some multiples expansion in Q4, we still see attractive value in the sector, with solid valuation support at a 2025e sector P/E below 10x. We continue to see the capital returns as...

SWED A SWEDBANK AB CLASS A
NDA DKK NORDEA BANK AB
SEB A SKANDINAVISKA ENSKILDA BANKEN AB CLASS A
SHB SVENSKA HANDELSBANKEN
01/16/25 January 16, 2025 1 EN

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