Q1 2026 Nordea Bank Abp Earnings Call Transcript
Key Points
- Nordea Bank Abp (NRDBY) reported a strong return on equity of 15.4% for Q1 2026, indicating high profitability.
- The bank saw a significant increase in corporate lending, up 11% year on year, demonstrating strong business volume growth.
- Asset under management increased by 9% to EUR 464 billion, reflecting positive market performance and net inflows.
- Net fee and commission income rose by 6%, driven by growth across various fee types, including savings and investment products.
- Nordea Bank Abp (NRDBY) maintained a strong capital position with a CET1 ratio of 15.7%, well above regulatory requirements, supporting lending growth and shareholder distribution.
- The geopolitical conflict in the Middle East has created further uncertainty and volatility in financial markets, impacting Nordea Bank Abp (NRDBY)'s operations.
- Net fair value result decreased by 22% year on year due to market-making losses in March, attributed to increased interest rate expectations.
- Total income saw a 2% decrease, primarily due to lower net interest income and market-making income.
- The cost-to-income ratio was slightly higher than planned at 45.5%, affected by exceptional market-making losses.
- Nordea Bank Abp (NRDBY) announced restructuring initiatives affecting around 1,500 employees, indicating potential workforce reductions and associated costs.
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.
Good morning. Today, we have published our results for the first quarter of 2026. It has been an unsettled start to the year once again. The conflict in the Middle East that escalated in March has created further geopolitical uncertainty and is driving volatility in the financial markets. It also has implications for short-term energy supply and inflation.
Sustained disruption to global energy markets may dampen economic activity, including in the Nordic countries. While the situation continues to evolve, it's
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
