﻿<?xml version="1.0" encoding="utf-8"?>
<linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://www.xbrl.org/2003/linkbase">
  <roleRef roleURI="http://nordeagroup.com/roles/Resultat" xlink:href="nordeabankabp-2020-12-31.xsd#Resultat" xlink:type="simple" xmlns:xlink="http://www.w3.org/1999/xlink" />
  <roleRef roleURI="http://nordeagroup.com/roles/RapportOeverKassafloeden" xlink:href="nordeabankabp-2020-12-31.xsd#RapportOeverKassafloeden" xlink:type="simple" xmlns:xlink="http://www.w3.org/1999/xlink" />
  <calculationLink xlink:role="http://nordeagroup.com/roles/Resultat" xlink:type="extended" xmlns:xlink="http://www.w3.org/1999/xlink">
    <loc xlink:type="locator" xlink:href="nordeabankabp-2020-12-31.xsd#NordeaBankAbp_ResultatFoereKreditfoerluster" xlink:label="NordeaBankAbp_ResultatFoereKreditfoerluster" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="ifrs-full_EmployeeBenefitsExpense" />
    <loc xlink:type="locator" xlink:href="nordeabankabp-2020-12-31.xsd#NordeaBankAbp_SummaRoerelseintaekter" xlink:label="NordeaBankAbp_SummaRoerelseintaekter" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" />
    <loc xlink:type="locator" xlink:href="nordeabankabp-2020-12-31.xsd#NordeaBankAbp_Raentenetto" xlink:label="NordeaBankAbp_Raentenetto" />
    <loc xlink:type="locator" xlink:href="nordeabankabp-2020-12-31.xsd#NordeaBankAbp_NettoresultatAvPosterTillVerkligtVaerde" xlink:label="NordeaBankAbp_NettoresultatAvPosterTillVerkligtVaerde" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestExpense" xlink:label="ifrs-full_InterestExpense" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod" xlink:label="ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="ifrs-full_DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" />
    <loc xlink:type="locator" xlink:href="nordeabankabp-2020-12-31.xsd#NordeaBankAbp_NegativAvkastningPaFinansiellaTillgangar" xlink:label="NordeaBankAbp_NegativAvkastningPaFinansiellaTillgangar" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherExpenseByNature" xlink:label="ifrs-full_OtherExpenseByNature" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromInterest" xlink:label="ifrs-full_RevenueFromInterest" />
    <loc xlink:type="locator" xlink:href="nordeabankabp-2020-12-31.xsd#NordeaBankAbp_NegativAvkastningPaFinansiellaSkulder" xlink:label="NordeaBankAbp_NegativAvkastningPaFinansiellaSkulder" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FeeAndCommissionIncomeExpense" xlink:label="ifrs-full_FeeAndCommissionIncomeExpense" />
    <loc xlink:type="locator" xlink:href="nordeabankabp-2020-12-31.xsd#NordeaBankAbp_SummaRoerelsekostnader" xlink:label="NordeaBankAbp_SummaRoerelsekostnader" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_Raentenetto" xlink:to="ifrs-full_InterestRevenueCalculatedUsingEffectiveInterestMethod" order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_Raentenetto" xlink:to="ifrs-full_RevenueFromInterest" order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_Raentenetto" xlink:to="NordeaBankAbp_NegativAvkastningPaFinansiellaTillgangar" order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_Raentenetto" xlink:to="ifrs-full_InterestExpense" order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_Raentenetto" xlink:to="NordeaBankAbp_NegativAvkastningPaFinansiellaSkulder" order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_SummaRoerelseintaekter" xlink:to="ifrs-full_FeeAndCommissionIncomeExpense" order="11" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_SummaRoerelseintaekter" xlink:to="NordeaBankAbp_NettoresultatAvPosterTillVerkligtVaerde" order="12" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_SummaRoerelseintaekter" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" order="13" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_SummaRoerelseintaekter" xlink:to="ifrs-full_OtherIncome" order="14" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_SummaRoerelseintaekter" xlink:to="NordeaBankAbp_Raentenetto" order="15" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_SummaRoerelsekostnader" xlink:to="ifrs-full_EmployeeBenefitsExpense" order="21" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_SummaRoerelsekostnader" xlink:to="ifrs-full_OtherExpenseByNature" order="22" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_SummaRoerelsekostnader" xlink:to="ifrs-full_DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" order="23" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_ResultatFoereKreditfoerluster" xlink:to="NordeaBankAbp_SummaRoerelsekostnader" order="27" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_ResultatFoereKreditfoerluster" xlink:to="NordeaBankAbp_SummaRoerelseintaekter" order="28" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
  </calculationLink>
  <calculationLink xlink:role="http://nordeagroup.com/roles/RapportOeverKassafloeden" xlink:type="extended" xmlns:xlink="http://www.w3.org/1999/xlink">
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" />
    <loc xlink:type="locator" xlink:href="nordeabankabp-2020-12-31.xsd#NordeaBankAbp_KassaflödeFrånDenLöpandeVerksamhetenFöreFörändringAvDenLoepandeVerksamhetensTillgangarOchSkulder" xlink:label="NordeaBankAbp_KassaflödeFrånDenLöpandeVerksamhetenFöreFörändringAvDenLoepandeVerksamhetensTillgangarOchSkulder" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherAdjustmentsForNoncashItems" xlink:label="ifrs-full_OtherAdjustmentsForNoncashItems" />
    <loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities" xlink:label="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_KassaflödeFrånDenLöpandeVerksamhetenFöreFörändringAvDenLoepandeVerksamhetensTillgangarOchSkulder" xlink:to="ifrs-full_ProfitLossBeforeTax" order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_KassaflödeFrånDenLöpandeVerksamhetenFöreFörändringAvDenLoepandeVerksamhetensTillgangarOchSkulder" xlink:to="ifrs-full_OtherAdjustmentsForNoncashItems" order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="NordeaBankAbp_KassaflödeFrånDenLöpandeVerksamhetenFöreFörändringAvDenLoepandeVerksamhetensTillgangarOchSkulder" xlink:to="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities" order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" priority="1" weight="-1.0" />
  </calculationLink>
</linkbase>