Nordea Bank Abp (NDAFI) Earnings Call Transcripts

Nordea Bank Abp's Latest Earnings Call - Q1 FY2026

Nordea Bank Abp reported its Q1 2026 earnings, highlighting a strong return on equity of 15.4% and EPS of EUR 0.36, up from EUR 0.35. Despite geopolitical tensions impacting market conditions, the bank achieved solid growth in business volumes, particularly in corporate lending, which increased by 11%. Revenue saw a slight decline due to lower net interest income and market-making losses. Management maintained its full-year guidance, expecting a return on equity greater than 15% and a cost-to-income ratio around 45%.

Reported metrics

Guidance from management

Guidance for 2026 remains unchanged, with expectations of a return on equity greater than 15% and a cost-to-income ratio around 45%.

What management said

Good morning, and welcome to Nordea's First Quarter 2026 results. I'm Ilkka Ottoila, Head of Investor Relations. As usual, we'll start with the presentation by Group CEO, Frank Vang-Jensen, followed by a Q&A session with Frank and Group CFO, Ian Smith. Please remember to dial in to the teleconference to ask questions. With that, Frank, please go ahead.

I think that we are well positioned to continue to delivering greater than 15% return, and that goes for the corporate business as well, and we are not accepting any deviation to our return targets. And of course, the business knows that. So I guess I'm answering -- I'm happy with what I see right now. Yes.

What analysts pressed on

Analysts expressed concerns about the sustainability of corporate lending growth and the impact of geopolitical tensions on customer sentiment. Questions also focused on the potential for further cost restructuring and the implications of AI advancements on cost management.

Main topics on the call

• Corporate Lending Growth — Corporate lending increased by 11% year-on-year, marking the first double-digit growth since 2022. This growth was broad-based across the Nordic countries, driven by increased business activity and risk appetite. Managem...
• Net Interest Income (NII) Outlook — NII was lower as expected due to policy rate reductions but returned to growth during the quarter. Management is confident in volume growth driving NII forward, despite ongoing margin pressure. 'We're pretty constructive...
• Market-Making Losses — Net fair value result was down 22% year-on-year due to losses in market-making operations, attributed to increased interest rate expectations following geopolitical tensions. Management assured that normal performance le...
• Cost Management and Restructuring — Operating expenses were flat before FX effects, and a restructuring initiative was announced, affecting 1,500 employees and expected to deliver annual cost reductions of at least EUR 150 million by 2028. 'No further cost...

Read the full Nordea Bank Abp transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 42 Nordea Bank Abp earnings call transcripts on record, spanning February 6, 2020 to July 16, 2026. Based on this history, Nordea Bank Abp reports quarterly. The most recent call on file is dated July 16, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

NDAFI

Exchange

HLSE

Country

FI

Sector

Financials

Industry

Banks

Calls on record

42

First call

February 6, 2020

Most recent

July 16, 2026

Reporting cadence

quarterly