Nordea reports Q1 2026 operating profit of EUR 1.6 billion

Nordea Bank Abp reported an operating profit of EUR 1.6 billion for the first quarter of 2026, marking a two percent increase from the same period in 2025. The bank achieved a return on equity of 15.4 percent, with earnings per share rising to EUR 0.36.

The results were bolstered by the final deployment of management buffers established during the COVID-19 pandemic. The release of EUR 160 million in surplus provisions effectively reduced net loan losses, which otherwise would have been higher in a period marked by market volatility. Excluding this release, net loan losses remained at 6 basis points.

Core revenue streams faced downward pressure; net interest income fell by four percent due to policy rate reductions, while the net fair value result declined by 22 percent as geopolitical instability in the Middle East impacted trading desks. Offsetting these declines, corporate lending grew by 11 percent and assets under management rose by nine percent to EUR 464 billion.

Looking ahead, Nordea maintained its guidance for the year, aiming for a return on equity exceeding 15 percent and a cost-to-income ratio of approximately 45 percent. The bank’s CET1 ratio stood at 15.7 percent, supporting continued capital distribution through share buybacks.