Nordea Bank meets Q3 profit estimates on growth in savings and investments

Nordea Bank Abp

15/10/2026 05:43

Overview
Nordic financial services group's Q3 EPS met analyst expectations; operating profit missed estimates
Q3 total income rose 2% yr/yr, with net fee and commission income up 9%
Company saw strong lending and deposit growth; assets under management hit record EUR 509 bln

Outlook
Nordea expects 2026 return on equity of greater than 15%
Company sees 2026 cost-to-income ratio of 44–45%
Nordea notes recent sharp rises in forward interest rates may affect consumer confidence

Result Drivers
SAVINGS INCOME - Net fee and commission income rose 9% yr/yr, driven by 14% growth in savings income
CORPORATE LENDING AND DEPOSITS - Corporate lending and deposit growth were strong, up 8% and 7% yr/yr
INTEREST RATE VOLATILITY - Net fair value result fell 19% due to extraordinary interest rate volatility

Company press release: ID:nWkrbDZb35

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
Meet
EUR 0.35
EUR 0.35 (8 Analysts)
Q3 Net Interest Income
Meet
EUR 1.80 bln
EUR 1.80 bln (5 Analysts)
Q3 Operating Profit
Miss
EUR 1.54 bln
EUR 1.63 bln (8 Analysts)
Q3 CET 1 Capital Ratio
 
15.80%
 
Q3 Net Fee & Commission Income
 
EUR 880 mln
 
Q3 ROE
 
15.10%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Nordea Bank Abp is €19.93, about 17.4% above its October 14 closing price of €16.98
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Oct 14 - Wall Street banks see robust deal pipeline despite market volatility
Oct 13 - Norway's ABG Sundal Q3 revenue rises on strong M&A, capital markets performance
Oct 13 - Banking watchdogs ramp up AI scrutiny as stability fears mount, sources say

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)