Nordea Bank Abp: Repurchase of own shares on 10.12.2025

Nordea completed repurchases of 404,095 own shares on Dec. 10, 2025 across Helsinki, Stockholm and Copenhagen at a weighted average price of about €15.50/share for a total cost of €6.26m, as part of the up-to-€250m buyback programme announced on Oct. 16, 2025. After the transactions Nordea holds 7,873,912 treasury shares for capital optimisation and 10,299,096 for remuneration; the trades were executed in public markets under MAR and arranged on Nordea’s behalf by Morgan Stanley Europe SE. The activity modestly reduces free float and advances Nordea’s capital optimisation and remuneration objectives, with scope for further repurchases under the remaining programme.

Analysis

Nordea completed repurchases of 404,095 own shares on 10 December 2025 across Helsinki (222,718 shares at €15.51), Stockholm (161,224 at €15.47) and Copenhagen (20,153 at €15.51) for a total cost of €6,261,591.59 and an average price of €15.50 per share. The trades were executed on behalf of Nordea by Morgan Stanley Europe SE and form part of the buy-back programme announced 16 October 2025 of up to €250 million.

After these transactions Nordea holds 7,873,912 treasury shares earmarked for capital optimisation and 10,299,096 for remuneration; the completed tranche reduces free float modestly but is small relative to the programme ceiling, leaving roughly €243.74 million of buy-back capacity. Execution was carried out in public markets under MAR and the Commission Delegated Regulation, signaling procedural compliance and an active capital-return posture from management.

The immediate impact on per-share metrics and capital ratios is likely limited given the €6.26m size of this tranche, but continued repurchases at this pace would be progressively accretive; investors should monitor the cadence of future purchases and any reuse of treasury shares for remuneration that could offset share-count reductions.

Key Decisions for Investors

• Treat this tranche as mildly positive for Nordea’s capital-return profile but recognize the executed amount (€6.26m) is immaterial to per-share metrics, consider maintaining or modestly increasing exposure only if management sustains the programme
• Monitor buy-back cadence and filings closely and track remaining authorization (approximately €243.74m) and changes in treasury-share counts since reissuance for remuneration can offset repurchase impact
• Implement position sizing or hedges rather than relying solely on buybacks for upside given the programme’s optionality and potential volatility in execution