EarningsQ2 2026 Earnings Report
DE:04QA Q2 2026 EPS Results
Actual EPS€0.37
Consensus EPS€0.36
Beat/MissBeat by +<€0.01
One Year Ago EPS€0.36
DE:04QA Q2 2026 Revenue Results
Actual Revenue€8.86B
Expected Revenue€3.04B
Beat/MissBeat by +€5.82B
YoY Revenue Growth+27.73%
Earnings Announcement Details
QuarterQ2 2026
Date07/16/2026
TimeBefore Open
Conference CallThursday, July 16, 2026
DE:04QA Upcoming Earnings
Nordea Bank Abp's next earnings date is estimated for October 15, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:04QA Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive performance: strong income growth (fees and net fair value), record AUM, robust lending and deposit growth, controlled costs and excellent credit metrics underpin a healthy operational momentum. Near‑term headwinds include margin pressure in NII, volatility in international AUM (notably ESG exposure), some country‑specific credit/mix nuances, and modest cost headwinds (wage inflation and new VAT in Norway). Management is prioritizing organic growth and disciplined capital deployment which tempers near‑term buyback visibility but supports longer‑term EPS accretion.Company Guidance
Strong profitability and returns
Return on equity of 15.9% in Q2 2026; earnings per share EUR 0.36, up 3% year‑on‑year.
Income growth driven by fees and trading
Total income exceeded EUR 3 billion, up 4% year‑on‑year; net fee and commission income up 11% YoY; net fair value result up 11% YoY with market‑making and customer activity normalizing.
Record assets under management and retail momentum
Assets under management rose 16% to a record EUR 505 billion; Empower Europe Fund reached ~EUR 860 million AUM one year after launch; Private Banking net flows ~EUR 1 billion in the quarter.
Lending and deposit growth across corporates and households
Corporate lending and deposits each increased 9% YoY; Large Corporates lending +14% YoY and deposits +17% YoY; Business Banking lending +6% YoY and deposits +3% YoY; mortgage volumes +2% YoY (Sweden +5%).
Costs under control and improved efficiency
Costs flat year‑on‑year excluding FX; Q2 cost‑to‑income ratio improved to 44.0% from 45.1% and full‑year guidance tightened to 44%–45% (progress toward 2030 target of 40%–42%).
Very strong credit quality and capital position
Net loan losses of EUR 61 million (6 basis points), below long‑term expectation of ~10 bps; CET1 ratio 15.7%, 1.9 percentage points above current regulatory requirement; mid‑year dividend EUR 0.34 per share (~50% of H1 net profit).
Commercial and product wins
High activity in capital markets (200+ DCM transactions in the quarter), leading position in Nordic IPO league table YTD, and continued rollout of advisory services and digital capabilities with strong user metrics (Nordea Business app users +10% YoY).
DE:04QA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed