Nordea Bank Abp (NDA_SE) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Nordea's third quarter 2025 results. I'm Ilkka Ottala, Head of Investor Relations. As usual, we'll start with a presentation by Group CEO Frank van Jensen, followed by a Q&A session with Frank and Group CFO Ian Smith. Please remember to dial into the teleconference to ask questions. With that, Frank, please go ahead. Good morning. Today we have published our results for the third quarter of 2025. Again, it was a very solid quarter for Nordea. The past few months have reminded us that the world economy is delicately balanced. Political shifts and rising global tensions mean the operating environment can change quickly. Still, After the turbulent first few months of the year, the third quarter felt more calm and settled. Some of the earlier uncertainty around tariffs receded when the new EU-US trade agreement was struck. The Nordic economies also continued to benefit from low inflation and interest rates – conditions that helped lift confidence. During the quarter, Nordic Corporates signalled a renewed appetite to invest. That translated into increased demand for lending. Household activity also showed clear signs of picking up, though lending demand was still at muted levels. While customers main focus was on growth their savings, we also saw continued activity in investments. In this environment, Nordea delivered higher business volumes and very solid results. Our performance again demonstrated that strength and quality of our pan Nordic business. Looking at some of the highlights for Q3. Our return on equity was strong at 15.8% in line with our financial target. We have now delivered a return on equity of above 15% in 10 out of the past 11 quarters. Earnings per share were 36 euro cents. Mortgage lending increased by 6%. And retail deposi...