The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst
: Here is Sofie from JPMorgan. In terms of the capital impact, do you expect any impact from TRIM's?
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OCTOBER 24, 2019 / 6:00AM, NDASE.ST - Q3 2019 Nordea Bank Abp Earnings Call
Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst
: The ECB has a targeted review of internal models, which is called TRIM, which a number of European banks have seen quite big capital hits. And
when you say big European banks, they in general select -- expect more to come on these ongoing TRIM reviews. So the question is should we
expect any impact on core equity tier 1 or Nordea from the ongoing TRIM reviews?
Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst
: Okay. That's very clear. But is it fair to assume that we are not going to have (inaudible) negative surprise on core equity tier 1 next year due the
AQR hit that you did this quarter?
Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst
: And in terms of the IT amortization and depreciation line, with the third quarter numbers you guided that the IT amortization will peak in 2020.
But given the one-off IT costs that you took this quarter, is it fair to assume that this doesn't hold anymore? Or how should we think about IT
amortization going forward?
Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst
: Yes, with the second quarter numbers you guided that IT amortization will be in 2020. So I was just wondering how we should think about IT
amortization going forward? I guess given that you already took very high IT amortization costs or one-off costs this quarter, is it fair to assume
that this guidance doesn't hold anymore? Or how should we think about the kind of amortization and depreciation line that you have?
without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its
affiliated companies.
OCTOBER 24, 2019 / 6:00AM, NDASE.ST - Q3 2019 Nordea Bank Abp Earnings Call
Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst
: Okay. And one final question. In terms of the loan loss that you saw this quarter, was there anything related to [Tomaskuk]?
Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst
: Okay. But you didn't have any large single name exposures this quarter?
Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst
: Yes, I know, but they had quite big operations in Scandinavia.
Question: Sofie Caroline Elisabet Peterzens - JP Morgan Chase & Co, Research Division - Analyst
: Yes.
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