Nordea Reports Strong Third Quarter Amidst Global Uncertainty

Nordea Bank Abp reported a strong third quarter characterized by good business momentum despite a geopolitically uncertain and volatile environment. The bank's total income grew by 2% year-on-year to €3 billion, with net fee and commission income up by 9%. Lending and deposit activity showed robust growth across both corporate and household segments.

Corporate lending increased by 8% and deposits by 7% year-on-year. Mortgage volumes rose 2%, and retail deposits grew by 4%, indicating strong demand for savings and investment products. Assets under management reached a record high of €509 billion, up 13% year-on-year.

The bank highlighted the resilience of Nordic economies, driven by significant investments in areas such as artificial intelligence, defense, infrastructure, and the energy transition. Nordea expects continued economic growth in its home markets, solid exports, and a gradual strengthening of household consumption. However, the bank acknowledged the potential impact of rising interest rates on consumers.

Nordea reaffirmed its full-year 2026 guidance, expecting a return on equity exceeding 15% and a cost-to-income ratio between 44% and 45%. The bank continues its strategy to become the best-performing financial services group in the Nordics.