Nordea Bank Abp · OMXHEX:NDA_FI
Nordea Bank Abp — Debt Investor Presentation (2024)
22 slides from Nordea Bank Abp's debt investor presentation, 2024
Slide 1: Debt Presentation: Nordea Hypotek Covered Bonds
U1 j Debt Bbresentation Nordea Hypotek 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 16 6. Further information 20 Nordea
Slide 3: 1. In brief
1. In brief Nordea
Slide 4: Covered bonds: Nordea covered bond operations
Covered bonds Nordea covered bond operations Four aligned covered bond issuers with complementary roles Legislation Cover pool assets Cover pool size Covered bonds outstanding oc Issuance currencies Rating (Moody's / S&P) Outstanding green covered bonds Nordea Eiendomskreditt riLs Up Norwegian Norwe
Slide 5: Covered bonds rated Aaa by Moody's
Covered bonds rated Aaa by Moody’s
Slide 6: 2. Cover pool characteristics
2. Cover pool characteristics Nordea
Slide 7: Cover pool key characteristics
Cover pool key characteristics Q1 2024 Fcoverpootsummay Loans in cover pool SEK 691.8bn Outstanding covered bonds SEK 401.2bn Cover pool content Mortgage loans secured by residential or commercial property. Loans to public sector Geographic distribution Throughout Sweden with concentration to urban
Slide 8: Cover pool key characteristics (2)
Cover pool key characteristics (2) Q1 2024 Cover pool balance by loan category m Single family houses m Tenant owner units Tenant owner associations Multi-family houses = Commercial * Public * of which 1.7% agricultural ** excluding Public sector Cover pool balance by region** ™ Greater Stockholm ™
Slide 9: 3. Asset quality
3. Asset quality Nordea
Slide 10: Loan To Value (LTV) distribution
Continuous distribution where each loan can exist in multiple buckets Loan To Value (LTV)* Q1 2024 Weighted Average LTV — Indexed — 54.1% 6542 100% 486.2 74% Nominal % Residential Loans 685 489 326 180 11% 8% 5% 3% Vs — — 7 — — 0-40% 40-50% 50-60% 60-70% 70-80% Total 0-40% 40-50% 50-60% 60-70% 70-80
Slide 11: Loan structure
Loan structure Q1 2024 Rate type Repayment 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 100% 90% 80% 70% 60% = Floating rate 50% = Amortising ‘ m Bullet / interest only mFixed rate 40% 30% 20% 10% 0% 22Q4 23Q1 = 23Q2 «62303 «—23Q4 = 24Q1 22Q4 = 23Q1 =.23Q2-s 23Q3— 23Q4 = 24Q1 u Nordea
Slide 12: Underwriting criteria
Underwriting criteria Private households + Track record and income checked via UC and Tink + Always household budget “before-after” with buffer requirement and stress test including behavioral analysis + Individual valuation of the pledged property Corporates/ Municipalities + Financial analysis wit
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, th
Slide 15: 5. Macroeconomy
5. Macroeconomy Nordea
Slide 16: Nordic economic development
Nordic economic development Recovery continues GDP Unemployment rate 140 Tindex '2007Q1=100 GDP, level Index 2007Q1=100 140 " % Unemployment % " 135 135 10 —Sweden at 130 | =Sweden y, 130 ° 125 f Nene as 125 3 bo popes Vr | 120 ? ns ns 6 6 110 TN 110 s 5 105, — \ 105, a 4 100 | <= Vv 100 3 3 9s AZ o
Slide 17: Nordic economies
Nordic economies Central banks moving closer to cutting policy rates Policy rates 5.0 4s 40 35 3.0 25 20 15 10 os 0.0 -05 “10 7 % Policy rates 0.0 “05 1.0 12° 13° 14°15" «16 17 1B 19 «20 «2 22 23 2a” 25 == Sweden == Norway == Denmark == Euro Area Public balance/debt, % of GDP, 2024E (IMF) 150 ; 2024
Slide 18: Households
Households High savings rates and sluggish consumption Household debt 300 49% of disposable 275 fincome % of disposable] 30° incomel|. 275 Household debt 250 250 225 225 200 200 175 150 125 125 100 100 fe : —Sweden — Norway — Denmark — Finland 50 50 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020
Slide 19: Housing markets
Housing markets Stabilisation across the Nordic countries Home prices 250 Index, 2007=100 3m moving average 225 200 175 150 125 250 Home prices Index, 2007=100) 225 a 200 175 150 125 100 100 75 75 2008 2010 2022 ©2024 ‘Source: Macrobend and Nordea 2012. 2014-2016» 2018 +=. 2020 Households’ credit gr
Slide 20: 6. Further information
6. Further information Nordea
Slide 21: Nordea Hypotek — outstanding benchmark covered bonds
Nordea Hypotek — outstanding benchmark covered bonds Q1 2024 “Green bond Breakd by ISIN Serial no. Currency Amount (m) Maturity Coupon 5534 SEK 73 128 18/09/2024 1% 5535 SEK 82800 17/09/2025 1% 5536 SEK 75550 16/09/2026 05% 5537 SEK 63 100 16/06/2027 1% 5731 SEK 6 000* 25/11/2027 3.375% 5538 SEK 514
Slide 22: Contacts
Contacts Investor Relations Maria Caneman Head of Debt IR and Ratings Tel: +46 10 156 50 19 Mobile: +46 768 24 9218 maria.caneman@nordea.com Group Treasury Cecilia Tannerfeldt Lead Dealer Tel: +46 8 407 9105 Mobile: +46 733 21 44 33 cecilia.tannerfeldt@nordea.com 2 Morten Kiel Head of Covered bonds