Nordea Bank Abp (NDA_SE) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Nordea's first quarter 2025 results presentation. I'm Ilkka Ottola, head of investor relations. As usual, we'll start with the presentation by CEO Frank Vangjensen, followed by a Q&A session with Frank and CFO Ian Smith. Please remember to dial in to the teleconference to ask questions. With that, Frank, the stage is yours. Good morning. Today we have published our results for the first quarter of 2025. Despite the significant uncertainty that impacted the first quarter and has further escalated in the recent weeks, Nordea performed well, delivering growth in business volumes and continued high profitability. Return on equity was 15.7%, consistent with our financial target set three years ago. Our results for the quarter reinforce the fact that Nordea is strong, resilient and predictable. And that feels all the more important in the present environment. The uncertainty and volatility are affecting all parts of the world, including the Nordic countries. However, I wanted to remind you that there are few countries better equipped than our home markets to navigate the shifts we are seeing today. Our region has long stood out for its fiscal strength, highly competitive business environment, globally successful businesses and strong entrepreneurship, shaped by centuries of trade and commerce. Public finances are in good shape and we also benefit from significant social safety nets and structurally lower unemployment rates. Nordic households have healthy financial positions and our region's large enterprises are generally well positioned, prudently funded and adequately capitalized. The strengths of Nordic businesses lie in their agility and focus on superb product and service quality, innovation and a no-nonsense execution. This approach, deepl...