Nordea Bank Abp (NDA_SE) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.239 Good morning and welcome to Nordea's first quarter 2026 results. 00:00:05.239 -- 00:00:08.243 I'm Ilkka Auttala, head of investor relations. 00:00:08.243 -- 00:00:13.371 As usual, we'll start with a presentation by Group CEO Frank Vangiesse, followed 00:00:13.371 -- 00:00:17.498 by a Q&A session with Frank and Group CFO Ian Smith. 00:00:17.498 -- 00:00:21.464 Please remember to dial into the teleconference to ask questions. 00:00:21.464 -- 00:00:25.226 With that, Frank, please go ahead. 00:00:34.051 -- 00:00:35.833 Good morning. 00:00:35.833 -- 00:00:39.217 Today we have published our results for the first quarter of 2026. 00:00:39.217 -- 00:00:41.217 It 00:00:41.360 -- 00:00:45.865 has been an unsettled start to the year once again. 00:00:45.865 -- 00:00:51.111 The conflict in the Middle East that escalated in March has created further 00:00:51.111 -- 00:00:57.299 geopolitical uncertainty and is driving volatility in the financial markets. 00:00:57.299 -- 00:01:03.824 It also has implications for short-term energy supply and inflation. 00:01:03.970 -- 00:01:09.019 Sustained disruption to global energy markets may dampen economic activity, 00:01:09.019 -- 00:01:10.421 including 00:01:10.421 -- 00:01:12.404 in the Nordic countries. 00:01:12.404 -- 00:01:19.272 While the situation continues to evolve, it's something we are monitoring closely. 00:01:20.017 -- 00:01:25.607 Fortunately, the Nordic countries have a strong track record in navigating 00:01:25.607 -- 00:01:27.443 uncertainty. 00:01:27.443 -- 00:01:29.125 The stability, 00:01:29.125 -- 00:01:34.610 fiscal strength and global competitiveness of our home markets make them 00:01:34.610 -- 00:01:39.815 some of the world's best places to live and do business. 00:01:39.815 -- 00:0...