Nordea Bank Abp (NDAN) Q3 2026 Earnings Report
MX:NDAN Q3 2026 EPS Results
- Actual EPS
- MXN 7.24
- Consensus EPS
- MXN 7.30
- Beat/Miss
- Missed by -MXN 0.06
- One Year Ago EPS
- MXN 7.38
MX:NDAN Q3 2026 Revenue Results
- Actual Revenue
- MXN 128.27B
- Expected Revenue
- MXN 61.85B
- Beat/Miss
- Beat by +MXN 66.42B
- YoY Revenue Growth
- -5.10%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/15/2026
- Time
- Before Open
- Conference Call
- Thursday, October 15, 2026
Nordea Bank Abp's next earnings date is estimated for January 28, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was broadly positive, supported by solid profitability, income growth, strong lending and deposit volumes, record assets under management, low loan losses, cost control, digital progress and unchanged financial targets. The main negative issue was the expected increase in risk exposure amounts from the ECB corporate model review, which led to a pause in share buybacks. Additional challenges included lower net fair value, lending-margin pressure, a weaker Large Corporates and Institutions income result, and seasonally softer wholesale and Finnish corporate activity. Overall, the highlights significantly outweighed the lowlights.
For full year 2026, Nordea continues to expect a return on equity of greater than 15% and a cost-to-income ratio of 44% to 45%; net interest income is expected to be flat to slightly up for 2026, more at the flat to the slightly up end of that, costs are expected to land around EUR 5.5 billion for the year, and net fair value is expected to be a lower-than-normal result for the full year. Net loan losses remain well within the group's long-term guidance of 10 basis points, 2030 guidance and targets are unchanged, share buybacks are paused pending clarity on the REA impact, no decisions are expected before 2027, and there is no change to capital policy.
- Solid Third-Quarter Profitability and Unchanged GuidanceNordea reported a return on equity of 15.1% in the third quarter, earnings per share of EUR 0.35, and unchanged full-year 2026 guidance for return on equity of greater than 15% and a cost-to-income ratio of 44% to 45%.
- Total Income and Fee Income GrowthTotal income increased 2% year-on-year, driven by a 9% increase in net fee and commission income. Net fee and commission income growth was supported by a 14% increase in savings income.
- Growth in Lending, Deposits and Net Interest IncomeNet interest income increased 1% both year-on-year and quarter-on-quarter, supported mainly by strong volume development. Corporate lending increased 8% and corporate deposits increased 7%; household mortgage volumes rose 2% and household deposits increased 4%.
- Record Assets Under ManagementAssets under management increased 13% to a record EUR 509 billion, supported by strong net flows and positive market performance. Investment product AUM in Personal Banking increased 15%.
- Strong Cost Control and EfficiencyCosts were flat year-on-year excluding foreign exchange effects despite strategic investments in growth, resilience, technology and AI. The third-quarter cost-to-income ratio was 45%, and management said it remained on track to meet the full-year guidance of 44% to 45%.
- Low Loan Losses and Strong Credit QualityNet loan losses and similar net result were 7 basis points, well within the long-term expectation of around 10 basis points. Management said household finances remained strong, corporates were generally well positioned, funded and capitalized, and the credit portfolio remained strong.
- Strong Capital PositionThe CET1 ratio was 15.8% at quarter-end, 1.9 percentage points above current regulatory requirements. Management said the capital position and capital generation support the strategic priority of deploying capital for profitable growth.
- Personal Banking ProgressPersonal Banking delivered 2% year-on-year mortgage growth, 4% deposit growth and a 4% increase in net fee and commission income, driven mainly by a 12% increase in savings income. Recurring savings inflows increased 14% year-on-year, while Norway's savings fee income increased 20%.
- Private Banking and Wealth Management MomentumAssets and Wealth Management net fee and commission income increased 14% year-on-year. Private Banking net flows amounted to EUR 0.9 billion in the quarter, supported by continued customer inflows and positive net flows across the four countries.
- Life and Pension GrowthLife and Pension assets under management increased 20% year-on-year. Gross written premiums increased to EUR 3.3 billion from EUR 2.9 billion a year ago, and wholesale distribution net flows returned to positive at EUR 0.5 billion.
- Business Banking Customer and Volume GrowthBusiness Banking lending volumes increased 6% in local currencies year-on-year and deposits increased 2%. New customer additions increased 58% year-on-year, total income increased 5%, AUM increased 18%, and the cost-to-income ratio improved to 44% from 46% a year ago.
- Recognition for Digital BankingNordea Business and the mobile app won Global Finance awards for Best Corporate Digital Bank and Best Mobile Banking App in each of Nordea's four home markets, marking the fourth consecutive year of receiving this recognition.
- Large Corporate Lending and Deposit GrowthLarge Corporates and Institutions lending and deposits both increased 13% year-on-year. Net interest income increased 7%, net fee and commission income increased 6%, and Nordea arranged more than 150 debt capital market transactions during the quarter.
- Strategic Investment in Technology and AINordea continued heavy strategic investments in growth, resilience, technology and AI. Management said it was expanding AI use to redesign core processes, improve customer experience, simplify processes and support productivity.
- Positive Nordic Business MomentumManagement said growth expectations for Nordea's four home markets had improved, growth was picking up in Finland, corporate activity across the Nordics remained strong, and structural investment in artificial intelligence, defense, infrastructure and energy transition was creating opportunities.
- Business Plan and Growth Strategy MaintainedManagement said pausing buybacks was not a signal that business growth would be constrained. The business plan continues to include profitable organic growth and possible inorganic growth, and management reiterated that there was no change to the 2030 targets or financial guidance.
MX:NDAN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 28, 2027 | 2026 (Q4) | 7.47- | 7.03 | ― | ― |
| Oct 15, 2026 | 2026 (Q3) | 7.307.24 | 7.38 | -1.96% (-0.14) | |
| Jul 16, 2026 | 2026 (Q2) | 7.247.45 | 7.24 | 2.86% (+0.21) | |
| Apr 22, 2026 | 2026 (Q1) | 6.297.45 | 7.24 | 2.86% (+0.21) | |
| Jan 29, 2026 | 2025 (Q4) | 6.977.03 | 6.62 | 6.25% (+0.41) | |
| Oct 16, 2025 | 2025 (Q3) | 6.787.38 | 7.45 | -0.83% (-0.06) | |
| Jul 17, 2025 | 2025 (Q2) | 7.037.24 | 7.65 | -5.41% (-0.41) | |
| Apr 16, 2025 | 2025 (Q1) | 6.767.24 | 7.86 | -7.89% (-0.62) | |
| Jan 30, 2025 | 2024 (Q4) | 6.606.62 | 6.41 | 3.23% (+0.21) | |
| Oct 17, 2024 | 2024 (Q3) | 7.227.45 | 7.86 | -5.26% (-0.41) |
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.