How did Nordea arrive at the Rights Offering amount of EUR 2.5bn?
Nordea believes this amount gives Nordea both a sufficient additional capital cushion above the bank’s existing target capital ratios to protect the bank against the increased uncertainty in the market and economic outlook and gives the bank the flexibility to selectively pursue high credit quality business opportunities. Nordea believes that the capital strengthening measures, including the Rights Offering and proposed dividend reduction, will put Nordea in a strong position with a pro forma Core Tier 1 capital ratio at 10%. The capital strengthening measures are expected to position Nordea as one of the best capitalised banks in Europe.
