Nordea Bank Abp (NDA_SE) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.117 Good morning and welcome to Nordea's second quarter 2025 results presentation. 00:00:05.117 -- 00:00:08.181 I'm Ilkka Auttala, head of investor relations. 00:00:08.181 -- 00:00:13.127 Here in Helsinki, I'm joined by our president and CEO, Frank Van Jensen, and our group 00:00:13.127 -- 00:00:18.474 CFO, Ian Smith. As usual, we'll start with a presentation by Frank, 00:00:18.474 -- 00:00:23.580 followed by a Q&A session. Please remember to dial into teleconference in order to ask 00:00:23.580 -- 00:00:26.544 your questions. With that, let's get going. 00:00:26.544 -- 00:00:29.124 Over to you, Frank. 00:00:35.924 -- 00:00:40.991 Good morning. Today we have published our results for the second quarter of 2025. 00:00:40.991 -- 00:00:42.991 It 00:00:42.994 -- 00:00:48.682 was a quarter marked by high uncertainty and the most volatile market conditions 00:00:48.682 -- 00:00:53.810 for some time. Concerns over higher US trade tariffs and 00:00:53.810 -- 00:00:59.237 increase in geopolitical tensions resulted in significant financial market 00:00:59.237 -- 00:01:00.848 turmoil. 00:01:00.848 -- 00:01:06.493 Despite the external pressures, overall sentiment among Nordic households 00:01:06.493 -- 00:01:09.756 and businesses remained calm, 00:01:09.756 -- 00:01:16.081 with customer activity increasing in most areas as the quarter progressed. 00:01:17.204 -- 00:01:21.287 Global trade volatility clearly presents risks. 00:01:21.287 -- 00:01:26.633 However, we believe the Nordic economies are better positioned than many 00:01:26.633 -- 00:01:30.674 to manage through periods of turmoil. 00:01:30.852 -- 00:01:36.079 That advantage is rooted in our region's strong economies and fiscal 00:01:36.079 -- 00:01:42.264 positions and our globally innovati...