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Nordea Bank AB's (NRDEF) CEO Frank Vang-Jensen on Q1 2021 Results - Earnings Call Transcript

May 02, 2021 11:14 AM ETNordea Bank AB (NRDEF) Stock
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Nordea Bank AB (OTCPK:NRDEF) Q1 2021 Earnings Conference Call April 29, 2021 3:30 AM ET

Company Participants

Matti Ahokas - Head of Investor Relations

Frank Vang-Jensen - President and Group Chief Executive Officer

Ian Smith - Group Chief Financial Officer

Conference Call Participants

Antonio Reale - Morgan Stanley

Magnus Andersson - ABG Sundal Collier

Sofie Peterzéns - JPMorgan

Robin Rane - Kepler Cheuvreux SA

Andreas Hakansson - Danske Bank

Maria Semikhatova - Citibank

Adrian Cighi - Credit Suisse

Nick Davey - Exane BNP Paribas

Riccardo Rovere - Mediobanca

Matti Ahokas

Good morning and welcome to Nordea's First Quarter 2021 Result Presentation. Here in Helsinki we have our group CEO, Frank Vang-Jensen; and our group CFO, Ian Smith. My name is Matti Ahokas from Investor Relations.

As usual, we'll start with a presentation by Frank, followed by the Q&A session. [Operator Instructions] With that, I'll leave the word to you, Frank. Please go ahead.

Frank Vang-Jensen

Thank you, Matti, and good morning. Today, we have published our first quarter results, which show continued progress and a strong performance. Before going deeper into the first quarter numbers, let me begin with a couple of words on the current COVID-19 situation. I'm confident that we actually have many reasons to be optimistic, while remaining realistic.

The vaccine rollout is progressing. Societies are gradually opening up and the outlook for economic growth is positive. Naturally, the first quarter of the year has been a balancing act for society, between managing ongoing restrictions and preparing exit strategies from the pandemic. We still need to be cautious. We have to overcome the virus. And we will likely face some setbacks before it's over.

Also the full economic impact of the pandemic remains uncertain. However, there is light at the end of the tunnel. We are moving towards brighter times. At

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