Nordea Bank Abp Q4 2020 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. I had a follow-up on the dividend and buyback question. Just to clarify, when I look at the ECB website on the 2019 and 2020 dividend, it says that you need the Joint to provide the routine, basically it is to give the sign-off to be able to pay the dividend. So could you just confirm that you got the JST approval both for the EUR 0.07 dividend and the EUR 0.72 dividend for 2019 and 2020? So that would be kind of just a clarification. And then also a follow-up on one of the earlier questions. On the directed buybacks, hypothetically speaking, are you able to do a directed buyback where you buy back shares from purely one owner or several owners? Is that -- are there any legal limitations or restrictions that it would make Nordea not able to do that? So if you could just comment on kind of the legal framework around being able to buy back shares potentially from one or several owners or all owners at the same time? And then my second question would be on net interest income. If I look at your lease prices in Sweden on mortgages, they are around 20, 25 basis points above your peers. In Finland, most mortgages as far as I understand are (inaudible) where are you going to get some reset in the first half of the year. So how should I think about kind of margin trend, especially on the mortgage side in the Nordic region in 2021?