Case study: How Nykredit promotes a culture of responsible banking among its employees

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Identification and involvement of stakeholders

Stakeholder involvement is a vital aspect of Nykredit’s efforts to implement the Principles for Responsible Banking and to enhance its positive impact on customers, owners, and society. An ongoing, transparent dialogue with stakeholders deepens Nykredit’s understanding of their needs and expectations. At the same time, this dialogue helps refine Nykredit’s strategy, business model, and priorities, whether it involves supporting the green transition, fostering an attractive workplace, or ensuring equitable access to financing and home loans throughout Denmark.

Coordination across the organisation

Continuous coordination occurs across Nykredit’s organisation and management to share insights into the views and interests of relevant stakeholders. This coordination enables Nykredit to adapt to new political proposals and initiatives, regulatory guidelines and recommendations from authorities, and requests from key partners. Nykredit engages with customers through advisory meetings, ESG tools, and customer satisfaction surveys; with employees via staff satisfaction and working environment surveys, and formal collaboration forums; and with the owner, Forenet Kredit, through close strategic and operational cooperation. Additionally, there is ongoing dialogue with authorities, politicians, trade organisations and NGOs about regulation, joint solutions, and sustainability initiatives. Insights gained from stakeholder engagement are systematically incorporated into the bank’s decision-making and action processes and used to prioritise initiatives and assess risks and opportunities.

For a comprehensive overview of Nykredit’s approach, organisation, and key stakeholders, please refer to page 97 of Nykredit’s Sustainability Statement.

How does Nykredit promote a culture of responsible banking among its employees?

In its 2026 PRB Responsible Banking Progress Statement Nykredit reports that it took the following actions to promote a culture of responsible banking among its employees:

Nykredit fosters a culture of responsible banking by establishing clear behavioural expectations, providing ongoing training, and maintaining open dialogue on responsible business practices. The bank’s commitment to responsibility is reinforced through policies, training programs, business procedures, and a focus on preventing financial crime.

Corporate Culture Policy

To support a safe and transparent culture, Nykredit has implemented a Corporate Culture Policy. This policy outlines two main principles essential to cultivating a healthy corporate environment: responsible business practices and a safe, open culture. These principles are underpinned by four core behavioural skills that guide the kind of organization Nykredit aspires to be as a customer-owned employer: customer centricity, team spirit, drive, and responsibility. The policy is complemented by Nykredit’s Code of Conduct and is further supported by other policies adopted by the Nykredit Group’s Board of Directors. All Nykredit employees are bound by this policy.

The Board of Directors is responsible for overseeing the policy and conducts an annual review to assess its relevance and appropriateness, considering Nykredit’s activities, organization, resources, and the market conditions in which Nykredit operates.

Initiatives to Combat Financial Crime

Nykredit continuously enhances its monitoring, control measures, and processes to ensure robust protection against the misuse of its products and services for money laundering, terrorist financing, or violations of financial sanctions. This effort is guided by a dedicated policy and is deeply integrated across the Group. Key to this structure is the appointment of an AML Responsible Officer at the Executive Board level, who oversees the integration and focus on preventing money laundering, terrorist financing, and sanctions breaches within the Group Executive Board and the Executive Boards of the Group companies. Additionally, the Nykredit Group has an AML Responsible Officer covering all relevant Group entities.

All Nykredit employees are legally required to complete annual and role-specific training programs related to anti-money laundering and other financial crimes. These mandatory, case-based training sessions are tailored to employees’ job profiles and include participants from the Executive Board and the Board of Directors. In 2025, five case studies were provided, covering areas such as trade-based money laundering prevention, cryptocurrency-related money laundering, and corruption. The overall completion rate for all employees was 98% in 2025.

Whistleblower Scheme

Nykredit has established a Whistleblowing Policy and an online whistleblower scheme that allows all employees to anonymously report suspected irregularities, violations, or potential breaches of financial regulations, laws, or Nykredit’s policies and guidelines. This includes sensitive issues such as sexism.

The whistleblower scheme complements existing channels where employees are encouraged to raise concerns directly with their managers or Nykredit’s management. All reports submitted through the platform are initially reviewed by an external attorney, who screens the information and shares it with the Head of Compliance, the Head of Internal Audit, and the Chair of Nykredit’s Board Risk Committee. Reports made in good faith are fully protected from any form of retaliation.

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

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The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

References:

This case study is based on published information by Nykredit, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.nykredit.com/globalassets/nykredit.com/samfundsansvar/prb_supplement_template_2026.pdf

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