Nordea (CPH:NDA) Receives Basel II Approval From FSAs

Nordea (CPH:NDA) Nordea has received approval from the Nordic FSAs to calculate risk-weighted exposure amounts using the Internal Rating Based (IRB) approach for its Retail portfolio. Thereby 82% of Nordea's credit portfolio will be reported according to the IRB method. The approval leads to a reduction in RWA of approx. 14% as of end September 2008. The reduction leads to a corresponding increase in Tier 1 ratio to 9.2% as of end September. The core Tier 1 ratio, excluding hybrid capital, amounts to 8.3%. Both numbers are excluding the transition rules valid until 1 January 2010. Hence, Nordea's capital position is among the strongest in the Nordic region as well as in Europe.

- I am very satisfied that Nordea has received this approval. This demonstrates the strength of our capital and risk management systems, says Fredrik Rystedt, Chief Financial Officer at Nordea.

Calculation and reporting of capital adequacy as per end December 2008 will be in accordance with the IRB method.

For further information: Fredrik Rystedt, Group CFO, +46 8 614 7812 Johan Ekwall, Head of Investor Relations, +46 8 614 7852 or +46 70 607 92 69 Lauri Peltola, Head of Group Identity and Communications, +46 8 614 79 16 or +358 50 570 5606

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



LINK: http://hugin.info/1151/R/1279016/285478.pdf

Nordea

http://www.nordea.com

ISIN: SE0000427361

Stock Identifier: XOME.NDA