Nordea Bank Abp Q2 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Sofie Caroline Elisabet Peterzens - JPMorgan Chase & Co, Research Division - Analyst : Here is Sofie from JPMorgan. So in your presentation and report you mentioned that you are discussing already with ECB a potential share buyback. Could you kind of give us a little bit more details around potential size, what you have done so far? Have you already submitted the formal application? And kind of how we should think about the share buyback in the fourth quarter. That would be my first question. My second question is that you target a 50% cost-to-income ratio in 2022. This is kind of unchanged. I recognize this, but consensus is at 48%. Given that you slightly increased your cost guidance for 2021, do you -- how should we think about this 50% cost-to-income target in 2022? Do you think there is upside to over-deliver here? Or do you expect Nordea to come in at 50% in 2022? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 21, 2021 / 7:30AM, NDASE.ST - Q2 2021 Nordea Bank Abp Earnings Call

Question: Sofie Caroline Elisabet Peterzens - JPMorgan Chase & Co, Research Division - Analyst : And may I just ask in terms of the share buyback program? I mean you don't want to comment on the potential size, but is it fair to assume that you could potentially utilize that full 500 million of shares that you have Board approval? Do you kind of -- or would be -- or would that be too optimistic, I assume?