Nordea Bank Abp · OMXHEX:NDA_FI
Nordea Bank Abp — Q2 2026 Earnings Presentation
20 slides from Nordea Bank Abp's earnings presentation, Jul 16, 2026
Slide 1: Half-year results 2026
Nordea Half-year results 2026
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although Nordea believes that the expectations reflected in such forward-looking statements are reasonable, no assurance
Slide 3: Executive summary
Second-quarter highlights 2026 Executive summary Strong performance and high profitability – highlighting the strength of Nordea’s diversified business model - Return on equity1 15.9% and earnings per share EUR 0.36, up 3% y/y High business volume growth; assets under management at record EUR 505bn
Slide 4: Second-quarter results 2026
Key financials1 Second-quarter results 2026 Income statement and key ratios Q226 Q225 Q2/Q2 Q126 Q2/Q1 EURm Net interest income 1,779 1,798 -1% 1,759 1% Net fee and commission income 880 792 11% 842 5% Net insurance result 78 58 34% 69 13% Net fair value result 281 254 11% 226 24% Other income 14 9
Slide 5: High business volume growth, lower margins as expected
Net interest income High business volume growth, lower margins as expected Year-over-year bridge, EURm • Net interest income down 1% y/y -1% but turning to growth q/q (up 1%) 1,798 79 1,779 203 • Strong lending and deposit growth 50 2 25 28 - Corporate lending up 9% - Mortgages up 2% Q225 Volumes Ma
Slide 6: Continued growth across all fee categories
Net fee and commission income Continued growth across all fee categories Year-over-year bridge, EURm +11% • Net fee and commission income 880 up 11% y/y 6 7 6 8 10 64 • Savings fee income up 13%, driven 792 by higher average AuM - Total AuM up 16%, to EUR 505bn – Q225 Asset Brok. & Pay. & Lending Ot
Slide 7: Strong customer activity and market making
Net fair value result Strong customer activity and market making Net fair value result, EURm • Strong customer activity, driven +11% by FX, interest rate hedging, 281 equities and securities financing 254 257 245 62 46 226 • Market making strong in 54 75 19 normalised interest rate environment 211 2
Slide 8: Costs flat before FX and regulatory fees
Costs1 Costs flat before FX and regulatory fees Year-over-year bridge, EURm +2% • Total costs flat y/y (excluding FX 1,363 and regulatory fees) with stable 16 investment levels and strict cost 1,333 9 3 9 management - Underlying costs up, mainly due to salary inflation – mitigated by Q225 Underlying
Slide 9: Strong credit quality
Net loan losses and similar net result Strong credit quality Net loan losses and similar net result, EURm 61 • Net loan losses and similar net 59 0 2 result EUR 61m (6bp) - Moderate individual provisions and 59 write-offs, mainly attributable to few corporates - Household net individual provisions a
Slide 10: Strong capital position
Capital Strong capital position CET11 capital ratio development, % • CET1 ratio strong at 15.7% - 1.9 percentage points above regulatory requirement 15.7 0.8 -0.5 15.7 -0.3 -0.1 0.1 ~15 - CET1 capital up EUR 0.1bn – strong capital 1.5 generation supporting growth 13.8 - Risk exposure amount up EUR 0
Slide 11: Personal Banking
Personal Banking Volume and fee income growth partly offset impact of lower lending and deposit margins Total income, EURm -2% • Mortgage volumes up 2%, deposit volumes up 4% and +2% investment product AuM up 20% 1 173 1 164 1 149 1 127 1 146 • Net interest income down 8% due to lower margins 828 79
Slide 12: Asset & Wealth Management
Asset & Wealth Management Strong business momentum continues in Private Banking Total income, EURm • Continued high customer activity in Private Banking, with +12% investment product net flows of EUR 1.0bn, driven primarily +5% by Finland and Sweden 372 • Investment product AuM up 17%, to EUR 200bn
Slide 13: Business Banking
Business Banking Strong fee income and continued high volume growth across all home markets Total income, EURm +4% • Lending volumes up 6%, deposit volumes up 3% and investment product AuM up 23% +3% • Net interest income stable – lower deposit margins offset by 808 792 799 817 844 volume growth 536
Slide 14: Large Corporates & Institutions
Large Corporates & Institutions Continued high lending volume growth and strong ancillary income Total income, EURm • Lending volumes up 14%, deposit volumes up 17% and +15% investment product AuM up 18% +12% • Net interest income up 6%, driven by volumes and yield fees 581 586 636 • Net fee and com
Slide 15: Why own Nordea
2030 financial targets Why own Nordea Return on equity >15% The best-performing financial services throughout period and significantly higher in 20301 group in the Nordics in 2030 Cost-to-income ratio2 40–42% Leading customer experience and faster-than- Supported by market income growth High credit
Slide 16: Nordea
Nordea
Slide 17: Assets under management and net flows
Supplementary information AuM Assets under management and net flows Total AuM, EURbn +16% 505 473 464 436 453 99 • AuM reporting based on income 87 91 89 83 Investment profile and business area 324 339 186 353 349 200 383 product 172 178 185 - Clear distinction between AuM 29 30 32 32 47 36 investme
Slide 18: Strong capital generation supporting returns
Supplementary information Capital excellence Strong capital generation supporting returns Steady compounder with strong track record • Capital return commitment Year Dividends & buy-backs, EURbn Average quarterly capital generation, bp reaffirmed - Strong capital generation - Unchanged dividend poli
Slide 19: Net interest income sensitivity to policy rate changes
Supplementary information Net interest income sensitivity Net interest income sensitivity to policy rate changes Sensitivity to +50bp parallel shift in policy Deposit hedge – nominal volume, rates1, EURm EURbn • NII impact largely driven by policy 36 38 38 rates and pass-through ~100–150 33 34 ~200–
Slide 20: Reduction in impaired exposures
Supplementary information Impairments and provisioning coverage Reduction in impaired exposures • Stage 3 ratio down at 0.91% of total Stage 2 and 3 loans at amortised cost, EURm loans - 5% decrease in stage 3 loans, driven by Stage 2 rating upgrades 16,207 15,355 14,316 14,466 14,526 Stage 3 • Stag