Nordea Bank Abp · OMXHEX:NDA_FI
Nordea Bank Abp — Nordea Hypotek — Debt Investor Presentation (2023)
22 slides from Nordea Bank Abp's debt investor presentation, 2023
Slide 1: Nordea Q1 2023 Debt investor presentation
Nordea Q1 2023 Debt investor presentation Nordea Hypotek Bank Covered Bonds
Slide 2: Table of contents
Table of contents 1. In brief 3 2. Cover pool key characteristics 6 3. Asset quality 9 4. Covered bond framework 13 5. Macroeconomy 15 6. Further information 19 Nordea
Slide 3: 1. In brief
1. In brief Nordea
Slide 4: Nordea mortgage banks
Nordea Eiendomskreditt Nordea Hypotek Nordea Kredit Nordea Mortgage Bank • • • Open
Slide 5: Nordea Hypotek — overview
Nordea Hypotek — overview * 100% owned subsidiary of Nordea Bank Abp - the largest Nordic financial institution * Grants long-term loans to Swedish households, municipalities, municipal housing companies and corporates + Allloans secured by mortgages, tenant-owner units or municipal/state guarantees
Slide 6: 2. Cover pool characteristics
2. Cover pool characteristics Nordea
Slide 7: Cover pool key characteristics
Cover pool key characteristics Q1 2023 Feoverpetsumme Loans in cover pool SEK 679.9bn Outstanding covered bonds SEK 398.0bn Cover pool content Mortgage loans secured by residential or commercial property. Loans to public sector Geographic distribution Throughout Sweden with concentration to urban ar
Slide 8: Cover pool key characteristics (2)
Cover pool key characteristics (2) Q1 2023 Cover pool balance by loan category Cover pool balance by region* Multi-family = Commercial h 2.4% . 3% Agricultural East Sweden " 17% 14% = Public sector \ 14% North Sweden Tenant owner 0% \ Greater associations_ => Stockholm 10,7% 38% = Single family hous
Slide 9: 3. Asset quality
3. Asset quality Nordea
Slide 10: Loan To Value (LTV)
Loan To Value (LTV)* Q1 2023 Weighted Average LTV - Unindexed 56.9% Po LTV buckets Nominal (SEKbn) % Residential Loans >0-<=40 % 460.0 1% >40 - <=50 % 735 1% >50 - <=60 % 54.0 8% >60-<=70 % 37.1 6% >70 - <=80 % 18.6 3% Total 643.2 100% Weighted Average LTV - Indexed 51.4% Po LTV buckets Nominal (SEK
Slide 11: Fixed rate and amortisation split
100% 100% 90% 90% 80% 80% 47% 46% 46% 48% 50% 52% 70% 70% 67% 65% 60% 60% 83% 82% 82% 82% 50% 50% 40% 40% 30% 30% 53% 54% 54% 52% 50% 48% 20% 20% 33% 35% 10% 10% 17% 18% 18% 18% 0% 0% 21Q4 22Q1 22Q2 22Q3 22Q4 23Q1 21Q4 22Q1 22Q2 22Q3 22Q4 23Q1 Fixed rate Floating rate Bullet / interest only Amortisi
Slide 12: Underwriting criteria
Underwriting criteria Private households * Track record and income checked via UC * Always household budget "before-after” with buffer requirement and stress test including behavioral analysis * Individual valuation of the pledged property Corporates / Municipalities * Financial analysis with adjust
Slide 13: 4. Covered bond framework
4. Covered bond framework Nordea
Slide 14: Swedish covered bond framework
Swedish covered bond framework Legal framework * Swedish Covered Issuance Act (SFS 2003:1223), came into force 1 July 2004 and amended on 8 July 2022 in order to implement the European covered bond directive. Registration + Anissuing institution is required to maintain a register on covered bonds, t
Slide 15: 5. Macroeconomy
5. Macroeconomy Nordea
Slide 16: Nordic economic development
Nordic economic development Strong economies are facing a recession GDP development Unemployment rate n n 135 Jindex 2007Q1=100 GDP, level Index 2007Q1=100 135 % Unemployment % 130 130 10 10 —Sweden ~f a5 | Swed A 125 9 ry om. ° Norway \7 420 | —Denmark Vrt 120 84 8 —Fintand "s VA fs Rae : ——_\ 6 H
Slide 17: Nordic economies
Nordic economies Interest rates set to peak in 2023 Policy rates % Policy rates 1 120:13'0°«14««S 16171819. «20-21-22. ==sweden Norway == Denmark == Euro Area 23 24 Public balance/debt, % of GDP, 2023E (IMF) Fiscal Balance, % of GDP 10 ery Netherlands Fintand Austria 2023E Portugal Spain United Stat
Slide 18: Households
Households Households squeezed by high interest rates and inflation Household debt Household savings 300 49% of disposable Household debt % of disposable| 30° 20.0 4% of disposable Household saving rate 20.0 275 income income|. 275 175 income 17s 250 250 15.0 —Sweden 15.0 Norway 225 225 12.5 —benmar
Slide 19: Housing markets
Housing markets Higher interest rates continues to cool off Nordic housing markets Housing prices 250 Index, 2007=100 Housing prices 3m moving average 225 200 175 150 125 250 Index, 2007-100] 225 200 175 150 125 100 100 75 75 07 08 09°10 1112 :13°14':15 16 °«17:«18 19° 20°21 22 ‘Source: Macrobend an
Slide 20: 6. Further information
6. Further information Nordea
Slide 21: Breakdown by ISIN
Breakdown by ISIN Serial no. Currency Amount (m) Maturity Coupon 5533 SEK 58 942 20/09/2023 1.25% 5534 SEK 79 200 18/09/2024 1% 5535 SEK 82 800 17/09/2025 1% 5536 SEK 56 300 16/09/2026 0.5% 5537 SEK 53 900 16/06/2027 1% 5731 SEK 6 000* 25/11/2027 3.375% 5538 SEK 11 400 20/09/2028 3.5% - EUR 3 000**
Slide 22: Contacts
Contacts Investor Relations Maria Caneman Debt IR and ratings Mobile: +46 738 66 17 24 Tel: +46 10 156 5019 maria.caneman@nor m Group Treasury Cecilia Tannerfeldt Morten Keil Senior Treasury Manager Head of Covered Bonds Tel: +46 8 407 91 05 Tel: +45 3333 1875 Mobile: +46 733 21 44 33 Mobile: +45 61