Helsinki – October 15, 2026 -- Nordea Bank Abp posted a third-quarter return on equity of 15.1% and earnings per share of EUR 0.35, while assets under management rose 13% year on year to a record EUR 509bn. Operating profit fell 4% to EUR 1.5bn.
Total income rises 2% to EUR 3.0bn as fee growth offsets weaker trading
Net fee and commission income increased 9% year on year, driven by a 14% rise in savings income. Net interest income grew 1% both year on year and quarter on quarter, as volume growth was partly offset by lower lending margins.
Net fair value result dropped 19%, which Nordea attributed to extraordinary interest rate volatility late in the quarter. Costs excluding regulatory fees were flat when adjusted for foreign exchange effects, and the cost-to-income ratio, excluding regulatory fees, stood at 45.0%.
Corporate lending grows 8% and deposits 7% across the Nordics
Mortgage lending rose 2%, led by Sweden and Norway, while retail deposits increased 4%. In Sweden, Nordea captured 21% of market growth in mortgages in August year to date.
Large Corporates & Institutions lifted lending and deposit volumes by 13% each. Business Banking lending rose 6% and deposits 2%.
Private Banking draws EUR 0.9bn in net flows as BetaPlus tops EUR 100bn
Nordea said its BetaPlus fund range, now one of Europe's largest enhanced index platforms, holds more than EUR 100bn in AuM. The wholesale distribution channel returned to positive net flows after outflows in the previous quarter. Recurring savings inflows in Personal Banking were up 14% year on year.
Loan losses stay at 7bp, CET1 ratio reaches 15.8%
Net loan losses and similar net result totalled EUR 74m, or 7bp, against the Group's long-term expectation of 10bp. The losses stemmed mainly from individual provisions tied to a small number of corporate customers, plus a small increase in collective provisions.
The CET1 ratio was 15.8%, 1.9 percentage points above the current regulatory requirement. The figure includes interim profit net of a 70% dividend deduction, the upper range of Nordea's dividend policy, and is subject to ECB approval. Excess capital remains subject to buy-back considerations.
Nordea keeps 2026 guidance of ROE above 15% and 44-45% cost-to-income
CEO Frank Vang-Jensen said the bank is watching recent sharp rises in forward interest rates and their potential effect on consumer confidence in coming months. He pointed to growth picking up in Finland.
For 2030, Nordea targets a return on equity above 15% throughout the period and significantly higher in 2030, with a cost-to-income ratio of 40-42%. The targets rest on an annual net loan loss ratio of around 10bp.