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    <label xlink:label="label_nord_nordResultatForeKreditforluster_Standard" id="nord_nordResultatForeKreditforluster_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Resultat före kreditförluster</label>
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    <label xlink:label="label_nord_ifrs-fullProfitLossBeforeTax_Standard" id="nord_ifrs-fullProfitLossBeforeTax_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Rörelseresultat</label>
    <label xlink:label="label_nord_ifrs-fullIncomeTaxExpenseContinuingOperations_Standard" id="nord_ifrs-fullIncomeTaxExpenseContinuingOperations_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skatt</label>
    <label xlink:label="label_nord_ifrs-fullProfitLoss_Standard" id="nord_ifrs-fullProfitLoss_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Årets resultat</label>
    <label xlink:label="label_nord_ifrs-fullProfitLossAttributableToOwnersOfParent_Standard" id="nord_ifrs-fullProfitLossAttributableToOwnersOfParent_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Aktieägare i Nordea Bank Abp</label>
    <label xlink:label="label_nord_nordInnehavareAvOvrigtPrimarkapital_Standard" id="nord_nordInnehavareAvOvrigtPrimarkapital_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Innehavare av övrigt primärkapital</label>
    <label xlink:label="label_nord_ifrs-fullProfitLoss_Total" id="nord_ifrs-fullProfitLoss_Total" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Summa</label>
    <label xlink:label="label_nord_ifrs-fullBasicEarningsLossPerShare_Standard" id="nord_ifrs-fullBasicEarningsLossPerShare_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Resultat per aktie före utspädning, euro</label>
    <label xlink:label="label_nord_ifrs-fullDilutedEarningsLossPerShare_Total" id="nord_ifrs-fullDilutedEarningsLossPerShare_Total" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Resultat per aktie före utspädning, euro</label>
    <label xlink:label="label_StatementOfComprehensiveIncomeAbstract" id="StatementOfComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Rapport över totalresultat</label>
    <label xlink:label="label_nord_ifrs-fullOtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_Total" id="nord_ifrs-fullOtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_Total" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="sv">Valutakursdifferenser</label>
    <label xlink:label="label_nord_ifrs-fullIncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome_Standard" id="nord_ifrs-fullIncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skatt på valutakursdifferenser</label>
    <label xlink:label="label_nord_ifrs-fullGainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_Standard" id="nord_ifrs-fullGainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Värdeförändringar</label>
    <label xlink:label="label_nord_ifrs-fullOtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_Standard" id="nord_ifrs-fullOtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Värdeförändringar</label>
    <label xlink:label="label_nord_ifrs-fullIncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_Standard" id="nord_ifrs-fullIncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skatt på värdeförändringarFVOCI</label>
    <label xlink:label="label_nord_ifrs-fullReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax_Standard" id="nord_ifrs-fullReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Omklassiﬁcerat till resultaträkningen</label>
    <label xlink:label="label_nord_nordSkattPaOmklassificeratTillResultatrakningenFVOCI_Standard" id="nord_nordSkattPaOmklassificeratTillResultatrakningenFVOCI_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skatt på omklassiﬁcerat till resultaträkningenFVOCI</label>
    <label xlink:label="label_nord_ifrs-fullGainsLossesOnCashFlowHedgesBeforeTax_Standard" id="nord_ifrs-fullGainsLossesOnCashFlowHedgesBeforeTax_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Värdeförändringar</label>
    <label xlink:label="label_nord_ifrs-fullIncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_Standard" id="nord_ifrs-fullIncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skatt på värdeförändringarCF</label>
    <label xlink:label="label_nord_ifrs-fullReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_Standard" id="nord_ifrs-fullReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Omklassiﬁcerat till resultaträkningen</label>
    <label xlink:label="label_nord_nordSkattPaOmklassificeratTillResultatrakningenCF_Standard" id="nord_nordSkattPaOmklassificeratTillResultatrakningenCF_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skatt på omklassiﬁcerat till resultaträkningenCF</label>
    <label xlink:label="label_nord_ifrs-fullOtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_Standard" id="nord_ifrs-fullOtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Värdeförändringar</label>
    <label xlink:label="label_nord_ifrs-fullIncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome_Standard" id="nord_ifrs-fullIncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skatt på värdeförändringar</label>
    <label xlink:label="label_nord_ifrs-fullOtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_Standard" id="nord_ifrs-fullOtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Omvärdering av pensionsplaner</label>
    <label xlink:label="label_nord_ifrs-fullIncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_Standard" id="nord_ifrs-fullIncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skatt hänförlig till omvärdering av förmånsbestämda pensionsplaner</label>
    <label xlink:label="label_nord_ifrs-fullShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax_Standard" id="nord_ifrs-fullShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Övrigt totalresultat från intresseföretag</label>
    <label xlink:label="label_nord_ifrs-fullIncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss_Standard" id="nord_ifrs-fullIncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skatt på övrigt totalresultat från intresseföretag</label>
    <label xlink:label="label_nord_ifrs-fullOtherComprehensiveIncome_Standard" id="nord_ifrs-fullOtherComprehensiveIncome_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Övrigt totalresultat, netto efter skatt</label>
    <label xlink:label="label_nord_ifrs-fullComprehensiveIncomeAttributableToOwnersOfParent_Standard" id="nord_ifrs-fullComprehensiveIncomeAttributableToOwnersOfParent_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Aktieägare i Nordea Bank Abp</label>
    <label xlink:label="label_StatementOfFinancialPositionAbstract" id="StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Rapport över finansiell ställning</label>
    <label xlink:label="label_nord_nordKassaOchTillgodohavandenHosCentralbanker_Standard" id="nord_nordKassaOchTillgodohavandenHosCentralbanker_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Kassa och tillgodohavanden hos centralbanker</label>
    <label xlink:label="label_nord_nordUtlaningTillCentralbanker_Standard" id="nord_nordUtlaningTillCentralbanker_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Utlåning till centralbanker</label>
    <label xlink:label="label_nord_nordUtlaningTillKreditinstitut_Standard" id="nord_nordUtlaningTillKreditinstitut_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Utlåning till kreditinstitut</label>
    <label xlink:label="label_nord_nordUtlaningTillAllmanheten_Standard" id="nord_nordUtlaningTillAllmanheten_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Utlåning till allmänheten</label>
    <label xlink:label="label_nord_ifrs-fullDebtInstrumentsHeld_Standard" id="nord_ifrs-fullDebtInstrumentsHeld_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Räntebärande värdepapper</label>
    <label xlink:label="label_nord_ifrs-fullNoncashAssetsPledgedAsCollateralForWhichTransfereeHasRightByContractOrCustomToSellOrRepledgeCollateral_Standard" id="nord_ifrs-fullNoncashAssetsPledgedAsCollateralForWhichTransfereeHasRightByContractOrCustomToSellOrRepledgeCollateral_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Pantsatta ﬁnansiella instrument</label>
    <label xlink:label="label_nord_ifrs-fullEquityInstrumentsHeld_Standard" id="nord_ifrs-fullEquityInstrumentsHeld_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Aktier och andelar</label>
    <label xlink:label="label_nord_nordTillgangarIPlaceringsportfoeljerOchFondfoersaekringsavtal_Standard" id="nord_nordTillgangarIPlaceringsportfoeljerOchFondfoersaekringsavtal_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Tillgångar i placeringsportföljer och fondförsäkringsavtal</label>
    <label xlink:label="label_nord_ifrs-fullDerivativeFinancialAssets_Standard" id="nord_ifrs-fullDerivativeFinancialAssets_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Derivatinstrument</label>
    <label xlink:label="label_nord_ifrs-fullAccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets_Standard" id="nord_ifrs-fullAccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av verkligt värde för räntesäkrade poster</label>
    <label xlink:label="label_nord_ifrs-fullInvestmentAccountedForUsingEquityMethod_Standard" id="nord_ifrs-fullInvestmentAccountedForUsingEquityMethod_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Aktier och andelar i intresseföretag och joint ventures</label>
    <label xlink:label="label_nord_ifrs-fullIntangibleAssetsAndGoodwill_Standard" id="nord_ifrs-fullIntangibleAssetsAndGoodwill_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Immateriella tillgångar</label>
    <label xlink:label="label_nord_nordMateriellaTillgangar_Standard" id="nord_nordMateriellaTillgangar_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Materiella tillgångar</label>
    <label xlink:label="label_nord_ifrs-fullRecognisedAssetsDefinedBenefitPlan_Standard" id="nord_ifrs-fullRecognisedAssetsDefinedBenefitPlan_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Pensionstillgångar</label>
    <label xlink:label="label_nord_ifrs-fullNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_Standard" id="nord_ifrs-fullNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Tillgångar som innehas för försäljning</label>
    <label xlink:label="label_nord_ifrs-fullAssets_Standard" id="nord_ifrs-fullAssets_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Summa tillgångar</label>
    <label xlink:label="label_nord_nordSkulderTillKreditinstitut_Standard" id="nord_nordSkulderTillKreditinstitut_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skulder till kreditinstitut</label>
    <label xlink:label="label_nord_nordInOchUpplaningFranAllmanheten_Standard" id="nord_nordInOchUpplaningFranAllmanheten_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">In- och upplåning från allmänheten</label>
    <label xlink:label="label_nord_nordInlaningIPlaceringsportfoljerOchFondforsakringsavtal_Standard" id="nord_nordInlaningIPlaceringsportfoljerOchFondforsakringsavtal_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Inlåning i placeringsportföljer och fondförsäkringsavtal</label>
    <label xlink:label="label_nord_ifrs-fullInsuranceContractsIssuedThatAreLiabilities_Standard" id="nord_ifrs-fullInsuranceContractsIssuedThatAreLiabilities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Skulder till försäkringstagare</label>
    <label xlink:label="label_nord_ifrs-fullDebtSecurities_Standard" id="nord_ifrs-fullDebtSecurities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Emitterade värdepapper</label>
    <label xlink:label="label_nord_ifrs-fullDerivativeFinancialLiabilities_Standard" id="nord_ifrs-fullDerivativeFinancialLiabilities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Derivatinstrument</label>
    <label xlink:label="label_nord_ifrs-fullAccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities_Standard" id="nord_ifrs-fullAccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av verkligt värde för räntesäkrade poster</label>
    <label xlink:label="label_nord_ifrs-fullCurrentAccruedExpensesAndOtherCurrentLiabilities_Standard" id="nord_ifrs-fullCurrentAccruedExpensesAndOtherCurrentLiabilities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Upplupna kostnader och förutbetalda intäkter</label>
    <label xlink:label="label_nord_ifrs-fullRecognisedLiabilitiesDefinedBenefitPlan_Standard" id="nord_ifrs-fullRecognisedLiabilitiesDefinedBenefitPlan_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Pensionsförpliktelser</label>
    <label xlink:label="label_nord_ifrs-fullLiabilities_Standard" id="nord_ifrs-fullLiabilities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Summa skulder</label>
    <label xlink:label="label_nord_nordInnehavareavovrigtprimarkapitalEQ_Standard" id="nord_nordInnehavareavovrigtprimarkapitalEQ_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Innehavare av övrigt primärkapital</label>
    <label xlink:label="label_nord_ifrs-fullNoncontrollingInterests_Standard" id="nord_ifrs-fullNoncontrollingInterests_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Minoritetsintressen</label>
    <label xlink:label="label_nord_ifrs-fullIssuedCapital_Standard" id="nord_ifrs-fullIssuedCapital_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Aktiekapital</label>
    <label xlink:label="label_nord_nordInvesterategetkapital_Standard" id="nord_nordInvesterategetkapital_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Investerat eget kapital</label>
    <label xlink:label="label_nord_ifrs-fullEquity_Standard" id="nord_ifrs-fullEquity_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Summa eget kapital</label>
    <label xlink:label="label_nord_ifrs-fullEquityAndLiabilities_Standard" id="nord_ifrs-fullEquityAndLiabilities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Summa skulder och eget kapital</label>
    <label xlink:label="label_nord_InvesteratFrittEgetKapitalMember" id="nord_InvesteratFrittEgetKapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Investerat fritt eget kapital</label>
    <label xlink:label="label_nord_InnehavareavovrigtprimarkapitalMember" id="nord_InnehavareavovrigtprimarkapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Innehavareavovrigtprimarkapital</label>
    <label xlink:label="label_StatementOfChangesInEquityAbstract" id="StatementOfChangesInEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Rapport över förändringar i eget kapital</label>
    <label xlink:label="label_nord_ifrs-fullEquity_PeriodStart" id="nord_ifrs-fullEquity_PeriodStart" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="sv">Balans per 1 jan 2021</label>
    <label xlink:label="label_nord_ifrs-fullGainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax_Standard" id="nord_ifrs-fullGainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Värdeförändringar</label>
    <label xlink:label="label_nord_ifrs-fullOtherComprehensiveIncomeBeforeTaxCashFlowHedges_Standard" id="nord_ifrs-fullOtherComprehensiveIncomeBeforeTaxCashFlowHedges_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Värdeförändringar</label>
    <label xlink:label="label_nord_nordBetaldRantaOvrigtPrimarkapital_Standard" id="nord_nordBetaldRantaOvrigtPrimarkapital_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Betald ranta ovrigt primarkapital</label>
    <label xlink:label="label_nord_nordForandingIInnehavareAvPrimarkapital_Standard" id="nord_nordForandingIInnehavareAvPrimarkapital_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Forandringiinnehavareavprimarkapital</label>
    <label xlink:label="label_nord_ifrs-fullIncreaseDecreaseThroughSharebasedPaymentTransactions_Standard" id="nord_ifrs-fullIncreaseDecreaseThroughSharebasedPaymentTransactions_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Aktierelaterade ersättningar</label>
    <label xlink:label="label_nord_ifrs-fullDividendsPaid_Standard" id="nord_ifrs-fullDividendsPaid_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Utdelning</label>
    <label xlink:label="label_nord_ifrs-fullIncreaseDecreaseThroughTreasuryShareTransactions_Standard" id="nord_ifrs-fullIncreaseDecreaseThroughTreasuryShareTransactions_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Köp av egna aktier5</label>
    <label xlink:label="label_nord_nordForandringIMinoritetsintressen_Standard" id="nord_nordForandringIMinoritetsintressen_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring i minoritetsintressen</label>
    <label xlink:label="label_nord_ifrs-fullEquity_PeriodEnd" id="nord_ifrs-fullEquity_PeriodEnd" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="sv">Balance as at 31 dec 2020</label>
    <label xlink:label="label_nord_nordAktieaterkop_Standard" id="nord_nordAktieaterkop_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Aktieaterkop</label>
    <label xlink:label="label_nord_nordTransaktionskostnader_Standard" id="nord_nordTransaktionskostnader_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Transaktionskostnader</label>
    <label xlink:label="label_nord_ifrs-fullGainsLossesOnExchangeDifferencesOnTranslationNetOfTax_Standard" id="nord_ifrs-fullGainsLossesOnExchangeDifferencesOnTranslationNetOfTax_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Valutakursdifferenser</label>
    <label xlink:label="label_nord_ifrs-fullIncreaseDecreaseThroughTransfersAndOtherChangesEquity_Standard" id="nord_ifrs-fullIncreaseDecreaseThroughTransfersAndOtherChangesEquity_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Övriga förändringar</label>
    <label xlink:label="label_StatementOfCashFlowsAbstract" id="StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Rapport över kassaflöden</label>
    <label xlink:label="label_nord_ifrs-fullOtherAdjustmentsForNoncashItems_Standard" id="nord_ifrs-fullOtherAdjustmentsForNoncashItems_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Justering för poster som inte ingår i kassaflödet</label>
    <label xlink:label="label_nord_ifrs-fullIncomeTaxesPaidClassifiedAsOperatingActivities_Standard" id="nord_ifrs-fullIncomeTaxesPaidClassifiedAsOperatingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Betalda inkomstskatter</label>
    <label xlink:label="label_nord_ifrs-fullCashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_Standard" id="nord_ifrs-fullCashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Kassaflöde från den löpande verksamhetens före förändring av tillgångar och skulder</label>
    <label xlink:label="label_nord_nordFoeraendringAvUtlaningTillCentralbanker_Standard" id="nord_nordFoeraendringAvUtlaningTillCentralbanker_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av utlåning till centralbanker</label>
    <label xlink:label="label_nord_nordFoeraendringAvUtlaningTillKreditinstitut_Standard" id="nord_nordFoeraendringAvUtlaningTillKreditinstitut_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av utlåning till kreditinstitut</label>
    <label xlink:label="label_nord_nordFoeraendringAvUtlaningTillAllmaenheten_Standard" id="nord_nordFoeraendringAvUtlaningTillAllmaenheten_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av utlåning till allmänheten</label>
    <label xlink:label="label_nord_nordFoeraendringAvRaentebaerandeVaerdepapper_Standard" id="nord_nordFoeraendringAvRaentebaerandeVaerdepapper_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av räntebärande värdepapper</label>
    <label xlink:label="label_nord_nordFoeraendringAvPantsattanansiellaInstrument_Standard" id="nord_nordFoeraendringAvPantsattanansiellaInstrument_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av pantsatta ﬁnansiella instrument</label>
    <label xlink:label="label_nord_nordFoeraendringAvAktierOchAndelar_Standard" id="nord_nordFoeraendringAvAktierOchAndelar_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av aktier och andelar</label>
    <label xlink:label="label_nord_nordFoeraendringAvDerivatinstrumentNetto_Standard" id="nord_nordFoeraendringAvDerivatinstrumentNetto_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av derivatinstrument, netto</label>
    <label xlink:label="label_nord_nordFoeraendringAvFoervaltningsfastigheter_Standard" id="nord_nordFoeraendringAvFoervaltningsfastigheter_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av förvaltningsfastigheter</label>
    <label xlink:label="label_nord_ifrs-fullAdjustmentsForDecreaseIncreaseInOtherAssets_Standard" id="nord_ifrs-fullAdjustmentsForDecreaseIncreaseInOtherAssets_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av övriga tillgångar</label>
    <label xlink:label="label_nord_ifrs-fullDividendsReceivedClassifiedAsOperatingActivities_Standard" id="nord_ifrs-fullDividendsReceivedClassifiedAsOperatingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Erhållen utdelning från intresseföretag</label>
    <label xlink:label="label_nord_nordFoeraendringAvSkulderTillKreditinstitut_Standard" id="nord_nordFoeraendringAvSkulderTillKreditinstitut_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av skulder till kreditinstitut</label>
    <label xlink:label="label_nord_nordFoeraendringAvInOchUpplaningFranAllmaenheten_Standard" id="nord_nordFoeraendringAvInOchUpplaningFranAllmaenheten_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av in- och upplåning från allmänheten</label>
    <label xlink:label="label_nord_ifrs-fullAdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities_Standard" id="nord_ifrs-fullAdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av skulder till försäkringstagare</label>
    <label xlink:label="label_nord_nordFoeraendringAvEmitteradeVaerdepapper_Standard" id="nord_nordFoeraendringAvEmitteradeVaerdepapper_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av emitterade värdepapper</label>
    <label xlink:label="label_nord_ifrs-fullAdjustmentsForIncreaseDecreaseInOtherLiabilities_Standard" id="nord_ifrs-fullAdjustmentsForIncreaseDecreaseInOtherLiabilities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av övriga skulder</label>
    <label xlink:label="label_nord_ifrs-fullCashFlowsFromUsedInOperations_Standard" id="nord_ifrs-fullCashFlowsFromUsedInOperations_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Kassaflöde från den löpande verksamheten</label>
    <label xlink:label="label_nord_ifrs-fullPurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_Standard" id="nord_ifrs-fullPurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förvärv av rörelser</label>
    <label xlink:label="label_nord_ifrs-fullProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_Standard" id="nord_ifrs-fullProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Avyttring av rörelser</label>
    <label xlink:label="label_nord_ifrs-fullPurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_Standard" id="nord_ifrs-fullPurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förvärv av intresseföretag och joint ventures</label>
    <label xlink:label="label_nord_ifrs-fullProceedsFromSalesOfInterestsInAssociates_Standard" id="nord_ifrs-fullProceedsFromSalesOfInterestsInAssociates_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Avyttring av intresseföretag</label>
    <label xlink:label="label_nord_ifrs-fullPurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_Standard" id="nord_ifrs-fullPurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förvärv av materiella tillgångar</label>
    <label xlink:label="label_nord_ifrs-fullProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_Standard" id="nord_ifrs-fullProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Avyttring av materiella tillgångar</label>
    <label xlink:label="label_nord_ifrs-fullPurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_Standard" id="nord_ifrs-fullPurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förvärv av immateriella tillgångar</label>
    <label xlink:label="label_nord_ifrs-fullCashFlowsFromUsedInInvestingActivities_Standard" id="nord_ifrs-fullCashFlowsFromUsedInInvestingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Kassaflöde från investeringsverksamheten</label>
    <label xlink:label="label_nord_ifrs-fullProceedsFromIssueOfSubordinatedLiabilities_Standard" id="nord_ifrs-fullProceedsFromIssueOfSubordinatedLiabilities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Emission av efterställda skulder</label>
    <label xlink:label="label_nord_ifrs-fullRepaymentsOfSubordinatedLiabilities_Standard" id="nord_ifrs-fullRepaymentsOfSubordinatedLiabilities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Amortering av efterställda skulder</label>
    <label xlink:label="label_nord_nordBetaldRantaPaOevrigtPrimarkapital_Standard" id="nord_nordBetaldRantaPaOevrigtPrimarkapital_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Betald ränta på övrigt primärkapital</label>
    <label xlink:label="label_nord_ifrs-fullProceedsFromSaleOrIssueOfTreasuryShares_Standard" id="nord_ifrs-fullProceedsFromSaleOrIssueOfTreasuryShares_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Försäljning/återköp av egna aktier, inklusive förändringar i tradingportföljen</label>
    <label xlink:label="label_nord_ifrs-fullDividendsPaidClassifiedAsFinancingActivities_Standard" id="nord_ifrs-fullDividendsPaidClassifiedAsFinancingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Utbetald utdelning</label>
    <label xlink:label="label_nord_ifrs-fullPaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_Standard" id="nord_ifrs-fullPaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Kapitalandelen av leasingutbetalningar</label>
    <label xlink:label="label_nord_ifrs-fullCashFlowsFromUsedInFinancingActivities_Standard" id="nord_ifrs-fullCashFlowsFromUsedInFinancingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Kassaflöde från ﬁnansieringsverksamheten</label>
    <label xlink:label="label_nord_ifrs-fullIncreaseDecreaseInCashAndCashEquivalents_Standard" id="nord_ifrs-fullIncreaseDecreaseInCashAndCashEquivalents_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Årets kassaflöde</label>
    <label xlink:label="label_nord_ifrs-fullCashAndCashEquivalents_PeriodStart" id="nord_ifrs-fullCashAndCashEquivalents_PeriodStart" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="sv">Likvida medel vid årets början</label>
    <label xlink:label="label_nord_ifrs-fullEffectOfExchangeRateChangesOnCashAndCashEquivalents_Standard" id="nord_ifrs-fullEffectOfExchangeRateChangesOnCashAndCashEquivalents_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Omräkningsdifferens</label>
    <label xlink:label="label_nord_ifrs-fullCashAndCashEquivalents_PeriodEnd" id="nord_ifrs-fullCashAndCashEquivalents_PeriodEnd" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="sv">Likvida medel vid årets slut</label>
    <label xlink:label="label_nord_nordFoeraendring_Standard" id="nord_nordFoeraendring_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring</label>
    <label xlink:label="label_nord_ifrs-fullInterestReceivedClassifiedAsOperatingActivities_Standard" id="nord_ifrs-fullInterestReceivedClassifiedAsOperatingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Erhållen ränta</label>
    <label xlink:label="label_nord_ifrs-fullInterestPaidClassifiedAsOperatingActivities_Standard" id="nord_ifrs-fullInterestPaidClassifiedAsOperatingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Betald ränta</label>
    <label xlink:label="label_nord_ifrs-fullAdjustmentsForDepreciationAndAmortisationExpense_Standard" id="nord_ifrs-fullAdjustmentsForDepreciationAndAmortisationExpense_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Avskrivningar</label>
    <label xlink:label="label_nord_ifrs-fullAdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_Standard" id="nord_ifrs-fullAdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Nedskrivningar</label>
    <label xlink:label="label_nord_ifrs-fullAdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances_Standard" id="nord_ifrs-fullAdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Kreditförluster</label>
    <label xlink:label="label_nord_nordNettoresultatAvUtlåningiPortföljerSomHållsTillFoerfallOchObligatorisktVaerderasTillVerkligtVaerde_Standard" id="nord_nordNettoresultatAvUtlåningiPortföljerSomHållsTillFoerfallOchObligatorisktVaerderasTillVerkligtVaerde_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Nettoresultat av utlåning i portföljer som hålls till förfall FV</label>
    <label xlink:label="label_nord_ifrs-fullAdjustmentsForFairValueGainsLosses_Standard" id="nord_ifrs-fullAdjustmentsForFairValueGainsLosses_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Orealiserade värdeförändringar</label>
    <label xlink:label="label_nord_nordRealisationsVinsterForlusterNetto_Standard" id="nord_nordRealisationsVinsterForlusterNetto_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Realisationsvinster/-förluster, netto</label>
    <label xlink:label="label_nord_ifrs-fullAdjustmentsForProvisions_Standard" id="nord_ifrs-fullAdjustmentsForProvisions_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av upplupna kostnader/intäkter och avsättningar</label>
    <label xlink:label="label_nord_ifrs-fullAdjustmentsForUnrealisedForeignExchangeLossesGains_Standard" id="nord_ifrs-fullAdjustmentsForUnrealisedForeignExchangeLossesGains_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Omräkningsdifferenser</label>
    <label xlink:label="label_nord_nordFoeraendringAvAterbaeringsmedelLifePension_Standard" id="nord_nordFoeraendringAvAterbaeringsmedelLifePension_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av återbäringsmedel, Life &amp; Pension</label>
    <label xlink:label="label_nord_nordFoeraendringAvTekniskaReserverLifePension_Standard" id="nord_nordFoeraendringAvTekniskaReserverLifePension_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Förändring av tekniska reserver, Life &amp; Pension</label>
    <label xlink:label="label_nord_nordFörändringarAvVerkligtVärdeAvDenSäkradePostenTillgangarSkulderNetto_Standard" id="nord_nordFörändringarAvVerkligtVärdeAvDenSäkradePostenTillgangarSkulderNetto_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">FörändringarAvVerkligtVärdeAvDenSäkradePostenTillgangarSkulderNetto'</label>
    <label xlink:label="label_nord_ifrs-fullOtherAdjustmentsToReconcileProfitLoss_Standard" id="nord_ifrs-fullOtherAdjustmentsToReconcileProfitLoss_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Övrigt</label>
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    <label xlink:label="label_nord_nordUtlaningTillCentralbankerBetalbarVidAnfordran_Standard" id="nord_nordUtlaningTillCentralbankerBetalbarVidAnfordran_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Utlåning till centralbanker, betalbar vid anfordran</label>
    <label xlink:label="label_nord_nordUtlaningTillKreditinstitutBetalbarVidAnfordran_Standard" id="nord_nordUtlaningTillKreditinstitutBetalbarVidAnfordran_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Utlaning till kreditinstitut betalbar vid  anfordran</label>
    <label xlink:label="label_nord_ifrs-fullCashAndCashEquivalents_Standard" id="nord_ifrs-fullCashAndCashEquivalents_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">Summa</label>
    <label xlink:label="label_nord_nordFörändringarAvLeasingKontrakt_Standard" id="nord_nordFörändringarAvLeasingKontrakt_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="sv">FörändringarAvLeasingKontrakt</label>
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