EarningsQ2 2026 Earnings Report
MX:NDAN Q2 2026 EPS Results
Actual EPS$7.34
Consensus EPS$7.13
Beat/MissBeat by +$0.20
One Year Ago EPS$7.13
MX:NDAN Q2 2026 Revenue Results
Actual Revenue$174.44B
Expected Revenue$60.74B
Beat/MissBeat by +$113.69B
YoY Revenue Growth+24.52%
Earnings Announcement Details
QuarterQ2 2026
Date07/16/2026
TimeBefore Open
Conference CallThursday, July 16, 2026
MX:NDAN 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
MX:NDAN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call overall conveyed a positive operational and financial performance: strong profitability (ROE 15.9%), record AUM (EUR 505bn), robust fee income growth (+11%), improving cost efficiency (Q2 cost-to-income 44%) and very low loan losses (6 bps). Growth momentum was particularly strong in corporate lending, markets activity and wealth businesses. Key headwinds include margin pressure in net interest income (notably in Norway and some mortgage competition), volatility and outflows in international channels, a small one-off cost increase from Norway VAT, and limited near-term RWA tailwinds. Management emphasized prioritizing capital for profitable growth over buybacks and reaffirmed guidance of ROE >15% and a 44%-45% cost-to-income ratio for 2026.Company Guidance
Strong Profitability
Return on equity of 15.9% in Q2 2026 and earnings per share EUR 0.36, up 3% year-on-year, demonstrating strong underlying profitability.
Income Growth and Scale
Total income exceeded EUR 3 billion, up 4% year-on-year; net fee and commission income up 11% year-on-year, supported by strong fee income and ancillary income.
Assets Under Management at Record High
AUM increased 16% year-on-year to a record EUR 505 billion; Investment products AUM up 17% and Life & Pension AUM up 23% year-on-year.
Net Fair Value and Markets Recovery
Net fair value result up 11% year-on-year with market making and customer activity normalizing; management expects net fair value to generate roughly EUR 1 billion annually.
Business Volume Growth — Corporate Focus
Corporate lending and deposits each grew 9% year-on-year; Large Corporates lending rose 14% and deposits 17% year-on-year, reflecting strong corporate activity and market share gains.
Retail and Mortgage Momentum
Household mortgage volumes up 2% year-on-year (Sweden +5%); retail deposits up 4% year-on-year; recurring savings inflows up 8% year-on-year supporting fee base.
Costs Controlled; Positive Jaws
Costs flat year-on-year excluding FX; Q2 cost-to-income ratio improved to 44% from 45.1% and full-year 2026 guidance updated to 44%-45%, with income growing faster than costs.
Strong Credit Quality
Net loan losses of EUR 61 million (6 basis points) in Q2, below long-term expectation of ~10 basis points, indicating continued low impairment levels.
Solid Capital Position and Payout
CET1 ratio 15.7% (1.9 percentage points above regulatory requirement); mid-year dividend EUR 0.34 per share (~50% of H1 net profit) and dividend policy maintained at 60%-70% payout range.
Business Area Momentum
Private Banking net flows ~EUR 1 billion; Business Banking lending +6% YoY and deposits +3%; Large Corporates & Institutions total income +15% YoY and cost-to-income improved to 38% from 42%.
MX:NDAN 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