Nordea Keeps 2026 Targets After Third-Quarter Profit Slips
Income and savings fees grew, while operating profit fell 4% and the bank maintained its full-year return and cost targets.
Key takeaways
- Nordea’s third-quarter operating profit fell 4% year on year to EUR 1.5 billion.
- Net fee and commission income rose 9%, with savings income up 14%.
- The bank maintained its 2026 return on equity and cost-to-income ratio outlook.
Nordea reported third-quarter operating profit of EUR 1.5 billion, down 4% from a year earlier. Net profit also fell 4%, to EUR 1,181 million, while earnings per share were EUR 0.35.
Total income rose 2% to EUR 3.0 billion. Net fee and commission income increased 9%, including a 14% rise in savings income. Net interest income was up 1% year on year, while the fair value result fell 19% amid interest rate volatility.
Assets under management rose 13% year on year to a record EUR 509 billion. Corporate lending increased 8%, and corporate deposits grew 7%. Mortgage lending was up 2%.
Net loan losses and similar results were EUR 74 million, equivalent to 7 basis points. Nordea said losses remained well within its long-term expectation of around 10 basis points.
The bank kept its 2026 outlook unchanged, expecting return on equity above 15% and a cost-to-income ratio of 44–45%, excluding regulatory fees.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
