Nordea Bank Abp · OMXHEX:NDA_FI
Nordea Bank Abp — Debt Investor Presentation (2022)
22 slides from Nordea Bank Abp's debt investor presentation, 2022
Slide 1: Nordea Q3 2022 Debt investor presentation
Nordea Q3 2022 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 Nordic 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 Q3 2022 Feoverpetsumma Loans in cover pool SEK 670.8bn Outstanding covered bonds SEK 359.9bn 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) Q3 2022 Cover pool balance by loan category Cover pool balance by region* Multi-family = Commercial houses 4% 3% East Sweden Public sector 14% \ —— 1% Tenant owner North Sweden 6 iat 9% \ reater ai a Stockholm 39% ® Single family houses 51% West swveden = Tenant ow
Slide 9: 3. Asset quality
3. Asset quality Nordea
Slide 10: Loan To Value (LTV)
Loan To Value (LTV)* Q3 2022 Weighted Average LTV - Unindexed 57.3% Po LTV buckets Nominal (SEKbn) % Residential Loans >0-<=40 % 453.6 1% >40 - <=50 % 73.1 12% >50 - <=60 % 54.2 9% >60-<=70 % 37.6 6% >70 - <=80 % 19.2 3% Total 637.7 100% Weighted Average LTV - Indexed 48.7% Po LTV buckets Nominal (S
Slide 11: 21Q3 21Q4 22Q1
100% 100% 90% 90% 80% 80% 51% 49% 47% 46% 46% 48% 70% 70% 60% 72% 60% 83% 83% 82% 82% 82% 50% 50% 40% 40% 30% 30% 49% 51% 53% 54% 54% 52% 20% 20% 28% 10% 10% 17% 17% 18% 18% 18% 0% 0% 21Q2 21Q3 21Q4 22Q1 22Q2 22Q3 21Q2 21Q3 21Q4 22Q1 22Q2 22Q3 11 Open
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 which most recently amended on 8 July 2022 to implement the European covered bond directive. Registration + Anissuing institution is required to maintain a register on covered b
Slide 15: 5. Macroeconomy
5. Macroeconomy Nordea
Slide 16: Nordic economic development
Nordic economic development Nordic outlook dampened by higher inflation and interest rates 135 130 125 120 1s 110 105 100 95 90 GDP development Unemployment rate Index 2007Q1=100 GDP, level Index 2007Q1=100] 1° Mee ‘Unempteyment * =} 130 Ad —sweden a ° > Denar a on ae > | s Finland 7 A AN Ll, Las ——
Slide 17: Nordic economies
Nordic economies Interest rates are increasing rapidly throughout the Nordics Policy rates Public balance/debt, % of GDP, 2022E (IMF) 40 40 % % 78 78 35 Policy rates | os ew Nowe 2022E 3.0 30 a 5.0 5.0 & Denmark 25 —— 25 Oo 25 25 T= S| S J tretana Netherlands 20 ' 20 «8 . ® 00 q ae 0.0 15 15 g Portu
Slide 18: Households
Households Households facing high inflation and rising interest rates Household debt 300 42% of disposable Household debt % of disposable] 20° 275 income income|. 275 250 250 225 225 200 200 175 7s 150 150 125 125 100 100 75 7s 2 — Finland — Denmark — Norway — Sweden 2 0203 04°05°06 07°08 09°10°11 1
Slide 19: Housing markets
Housing markets Rising interest rates are cooling off hot Nordic housing markets Housing prices Households’ credit growth 0 0 © ° 250 Tex 2007=100 Housing prices index 2007100] * B01 iy Households’ credit growth % vig 1° Sm moving average 225 1g 196 225 12.5 12.5 100 100 200 7S 7S 175 5.0 Finland 50
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 64 400 20/09/2023 1.25% 5534 SEK 79 200 18/09/2024 1% 5535 SEK 82 800 17/09/2025 1% 5536 SEK 37 300 16/09/2026 0.5% 5537 SEK 39 050 16/06/2027 1% - EUR 3 000* 19/03/2024 FRN * Retained bond issue 21 Open
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