Nordea Mortgage Bank Plc Releases 2024 Annual Report

Nordea Mortgage Bank Plc has published its Annual Report for 2024, detailing key financial outcomes and operations in Finland. The bank, a subsidiary of Nordea Bank Abp, recorded an operating profit of EUR 98.8 million for the year. The report highlighted net interest income amounting to EUR 267.6 million, contributing to a total operating income of EUR 269.0 million.

Total operating expenses were reported at EUR 136.0 million, while net loan losses rose significantly to EUR 34.2 million, compared to EUR 16.4 million in the prior year. Loans to the public reached EUR 33,360.2 million, with issued debt securities totaling EUR 21,777.0 million.

The bank's key performance metrics, such as a Tier 1 Capital Ratio of 18.0%, reflect a decline from the previous year's 39.8%. The annualized loan loss ratio increased to 10.2 basis points from 5.3 basis points in 2023.