Nordea’s return on equity for the quarter was 15.4%, reflecting resilient performance and solid profitability in a quarter where markets were negatively impacted by the escalation of the Middle East conflict.
Read moreFrank Vang-Jensen, President and Group CEO, presented the results followed by a Q&A audio session for investors and analysts with Frank Vang-Jensen, Ian Smith, Group CFO, and Ilkka Ottoila, Head of Investor Relations.
Watch the webcastResilient performance and solid profitability – markets negatively impacted by escalation in Middle East conflict
Return on equity2 15.4% and earnings per share EUR 0.36
Continued solid growth in lending and deposit volumes and assets under management
Corporate lending up 11% y/y, mortgage lending up 2%. Retail deposits up 5% y/y, corporate deposits up 2%. AuM up 9% y/y
Total income resilient
Total income 2% lower. Net interest income down 4%, as expected; net fee and commission income up 6% and net fair value result 22% lower
Firm cost management
Total expenses flat y/y adjusted for FX (up 2% including FX)
Very strong credit quality – remaining management judgement buffer now fully deployed
Net loan losses and similar net result reversal of EUR 99m (losses of EUR 61m or 6bp excluding management buffer release)
Management buffer fully deployed; EUR 116m reallocated to strengthen modelled provisions and surplus of EUR 160m released
Continued strong capital generation and share buy-backs
CET1 ratio 15.7% – 1.9pp above current regulatory requirement
Planned distribution of mid-year dividend for 2026, corresponding to approximately 50% of net profit for first half of 2026
2026 outlook1 unchanged: return on equity greater than 15% and cost-to-income ratio3 around 45%