Year-end Report 2006

Record results following reinforced organic growth strategy - RoE at all time high 22.9%

• Operating profit up 25% to EUR 3,820m (EUR 3,048m)
• Net profit up 39% to EUR 3,153m (EUR 2,269m)
• Earnings per share EUR 1.21 (EUR 0.86), up 41%
• Dividend per share EUR 0.49, up 40% corresponding to dividend payment of EUR 1,271m.
• Income up 12% to EUR 7,377m (EUR 6,573m in 2005)
• Costs up 4%
• Gap between revenue and cost growth 5.4%-points, excl. full impact of IMB sale
• Cost/income ratio continued down to 52%
• Positive net loan losses of EUR 257m (EUR 137m)
• 11th consecutive quarter with net recoveries
• Return on equity 22.9% (18.0%)

Strong momentum in all business areas

• Total lending up 14%
• Mortgage lending up 15%
• SME lending up 12%
• Consumer lending up 12% - non-collateralised consumer lending up 17%
• Number of credit cards increased by 15%
• Strong growth in Private Banking
• Increased cross-selling of Markets' products to SMEs
• Strong increase in capital markets transactions with large corporates
• Net written premiums in Life up 22%

"2006 was another record year for Nordea, and we consolidated our
position as the leading bank in the region with a strong integrated
business model and well diversified business mix. Shareholders
benefited from an EPS growth of 41%, and the proposed dividend is the
highest ever. The execution of our profitable organic growth strategy
continued to pay off with record results and strong momentum in all
business areas. Income growth surpassed the growth in costs by 5.4
percentage points, well in line with our communicated ambition for
2006. Going forward we will continue to reap the full benefits of our
organic growth strategy while maintaining strict cost management,
prudent risk control and efficient capital management," Says Lars G Nordström, President and Group CEO of Nordea.

Full Year-end Report 2006