Nordea Bank Abp · OMXHEX:NDA_FI
Nordea Bank Abp — Q3 2025 Earnings Presentation
22 slides from Nordea Bank Abp's earnings presentation, Oct 16, 2025
Slide 1: Third-quarter results 2025
Nordea Third-quarter results 2025
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
Third-quarter highlights 2025 Executive summary Strong performance and resilience although markets remain somewhat muted - Return on equity* 15.8% and earnings per share EUR 0.36 Lending growth picking up; continued growth in deposit volumes and assets under management - Mortgage lending up 6% y/y,
Slide 4: Key financials
Key financials Third-quarter results 2025 Income statement and key ratios Q325 Q324 Q3/Q3 Q225 Q3/Q2 EURm Net interest income 1,775 1,882 -6% 1,798 -1% Net fee and commission income 811 774 5% 792 2% Net insurance result 66 60 10% 58 14% Net fair value result 245 284 -14% 254 -4% Other income 13 14
Slide 5: Net interest income: higher business volumes, lower margins as expected
Net interest income Higher business volumes, lower margins as expected Year-over-year bridge, EURm • Net interest income down 6% -6% y/y, as expected 1,882 105 1,775 408 14 21 • Lending and deposit growth 34 127 - Mortgages up 6% (1% excluding Norwegian acquisition) Q324 Volumes Margins Deposit Trea
Slide 6: Net fee and commission income: continued growth, driven by savings and higher activity
Net fee and commission income Continued growth, driven by savings and higher activity Year-over-year bridge, EURm +5% • Net fee and commission income 811 up 5% y/y 11 8 6 5 8 • Savings fee income up 774 14 - AuM up 11%, to EUR 456bn - Net flows in Nordic channels (86% of Q324 Asset Brok. & Pay. & Le
Slide 7: Net fair value result: solid customer activity
Net fair value result Solid customer activity Net fair value result, EURm • Solid customer hedging activity in -14% FX and rates products. Income 284 289 back to more normal levels after 254 unusually high Q324* 77 245 86 54 201 75 • Strong market making result 30 offset by Treasury valuation adjust
Slide 8: Costs stable, in line with plan
Costs Costs stable, in line with plan Year-over-year bridge, EURm • Total costs stable y/y (up 2% excl. 0% FX & US settlement, driven by 15 3 17 9 annual inflation) 1,329 25 32 1,332 - 2pp of increase due to underlying costs, driven by annual salary increases and Norwegian acquisition Q324 Underlyin
Slide 9: Exceptionally strong credit quality again
Net loan losses and similar net result Exceptionally strong credit quality again Net loan losses and similar net result, EURm • Net loan losses and similar net result reversal of EUR 19m (-2bp) -50 - Low individual provisions and write-offs 64 - Reduced need for collective -50 provisioning for corpo
Slide 10: Strong capital position
Capital Strong capital position CET1 capital ratio development, % • CET1 ratio up 30bp at 15.9% 15.6 -0.5 15.9 - 2.3pp above regulatory requirement 0.8 -0.1 0.1 0.1 ~15 - CET1 capital up EUR 0.4bn with continued 1.5 strong profit generation 13.6 - Risk exposure amount down EUR 0.2bn as Q225 Profit D
Slide 11: Personal Banking
Personal Banking Volume and fee income growth partly offsetting impact of lower deposit margins Total income, EURm -3% 1,204 • Mortgage volumes up 6% and deposit volumes up 8% 1,188 1,184 1,172 1,163 • Net interest income down 7% due to lower deposit margins 859 832 845 827 795 • Net fee and commiss
Slide 12: Business Banking
Business Banking Continued volume growth and higher fee income partly offsetting lower margins Total income, EURm -5% • Lending volumes up 5% and deposit volumes up 9% 837 827 822 811 795 • Net interest income down 8% due to lower deposit margins 573 556 548 537 528 • Net fee and commission up 8%, d
Slide 13: Large Corporates & Institutions
Large Corporates & Institutions Continued strong lending volume growth; income impacted by lower interest rates Total income, EURm -2% • Lending volumes up 6% • Net interest income down 9% due to lower interest rates 595 620 581 561 554 • Net fee and commission income up 4%, driven by DCM and 360 33
Slide 14: Asset & Wealth Management
Asset & Wealth Management Strong net flows in Nordic channels and record-high customer activity in Private Banking Total income, EURm • Record-high customer activity in Private Banking, with net -1% flows of EUR 1.5bn, driven by Sweden and Finland 339 347 345 331 334 • Flows in higher margin wholesa
Slide 15: 2025: The preferred financial partner in the Nordics
2025: The preferred financial 2025 financial target partner in the Nordics Return on equity >15% Assumes CET1 requirement of 15%, including management buffer Rates assumed to normalise at ~2% Unique Nordic diversification and scale Supported in 2025 by Cost-to-income ratio Profitable growth and high
Slide 16: Nordea
Nordea
Slide 17: Strong capital generation supporting returns
Supplementary information Capital excellence Strong capital generation supporting returns Shareholder returns supported by continued strong capital generation EUR ~17–18bn Year Average quarterly capital generation, bp • Capital return commitment reaffirmed Share buy-backs 2025 - Strong capital gener
Slide 18: 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, • NII impact largely driven by policy rates*, EURm EURbn rates and pass-through ~100–150 33 34 ~250–300 31 31
Slide 19: Well-diversified portfolio, high-quality lending
Supplementary information Credit portfolio – real estate management industry (REMI)* Well-diversified portfolio, high-quality lending Lending volumes stable Diversified across countries • Well-diversified portfolio across 34 35 36 Finland Nordic markets 32 32 7 7 17% 6 6 7 Sweden • 90% of exposure t
Slide 20: Solid LTVs, resilient interest coverage, high occupancy
Supplementary information Credit portfolio – real estate management industry (REMI)* Solid LTVs, resilient interest coverage, high occupancy Solid LTV levels for all countries Majority of portfolio with low LTV • 85% of exposures with LTV below 60% 68 65 62 62 64 47% - In event of 20% decline in mar
Slide 21: Low levels of risk exposure
Supplementary information Credit portfolio – real estate management industry (REMI)* Low levels of risk exposure Strong credit quality, with 95% of IFRS 9 Minimal REA impact even from 3-notch portfolio in stage 1 downgrade due to risk weight floors 51% RW floor • Continued strong credit quality 8% 5
Slide 22: Continued resilience in strong credit portfolio
Supplementary information Impairments and provisioning coverage Continued resilience in strong credit portfolio • Stage 2 loans down at 5% of total Stage 2 and 3 loans at amortised cost, EURm loans - EUR 0.8bn moved to stage 1 due to improved economic environment Stage 2 18,541 16,207 16,366 16,208