Nordea Bank Abp (NDA_SE) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.858 Good morning and welcome to Nordea's third quarter 2025 results. 00:00:04.858 -- 00:00:07.643 I'm Ilkka Ottala, Head of Investor Relations. 00:00:07.643 -- 00:00:12.370 As usual, we'll start with a presentation by Group CEO Frank van Jensen, followed by 00:00:12.370 -- 00:00:16.076 a Q&A session with Frank and Group CFO Ian Smith. 00:00:16.076 -- 00:00:19.742 Please remember to dial into the teleconference to ask questions. 00:00:19.742 -- 00:00:23.584 With that, Frank, please go ahead. 00:00:31.351 -- 00:00:32.913 Good morning. 00:00:32.913 -- 00:00:37.636 Today we have published our results for the third quarter of 2025. 00:00:37.758 -- 00:00:41.222 Again, it was a very solid quarter for Nordea. 00:00:41.222 -- 00:00:47.289 The past few months have reminded us that the world economy is delicately balanced. 00:00:47.289 -- 00:00:52.715 Political shifts and rising global tensions mean the operating environment 00:00:52.715 -- 00:00:58.007 can change quickly. Still, After the turbulent first few 00:00:58.007 -- 00:01:03.754 months of the year, the third quarter felt more calm and settled. 00:01:03.754 -- 00:01:09.422 Some of the earlier uncertainty around tariffs receded when the new EU-US 00:01:09.422 -- 00:01:12.266 trade agreement was struck. 00:01:12.266 -- 00:01:17.573 The Nordic economies also continued to benefit from low inflation and interest 00:01:17.573 -- 00:01:22.997 rates – conditions that helped lift confidence. 00:01:23.174 -- 00:01:28.146 During the quarter, Nordic Corporates signalled a renewed appetite to invest. 00:01:28.146 -- 00:01:31.775 That translated into increased demand for lending. 00:01:31.775 -- 00:01:37.188 Household activity also showed clear signs of picking up, though lending demand was still 00:01...