Nordea Bank Abp (DE:04Q)
XETRA:04Q
Earnings Data
Report Date
Apr 22, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.34Last Year’s EPS
0.35Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive picture: Nordea delivered strong full‑year profitability (ROE 15.5%), record AUM (+13% to €478bn) and robust net inflows (€6.5bn in Q4), maintained solid capital (CET1 15.7%) and continued active cost management (costs down 3% YoY). Management has raised capital returns (dividend uptick and buybacks) and closed the previous strategy period having met/exceeded targets, while setting ambitious 2026/2030 goals. Offsetting factors include pressure on net interest income and margins (NII down 5% YoY; NIM slightly lower), competitive intensity particularly in Norway (PEB NII -11% QoQ in Norway), asset management margin compression and some localized credit and timing headwinds into Q1. Overall, the positive operational and capital trends materially outweigh the near‑term margin and timing headwinds.Company Guidance
Strong Full-Year Profitability and ROE
Delivered full-year return on equity of 15.5%, meeting the multi-year commitment; Q4 ROE 14.4% (14.3% year ago). Earnings per share €0.34 (up from €0.32). Operating profit for Q4 increased 3% year‑on‑year to €1.5bn.
Record Assets Under Management and Robust Net Inflows
AUM increased 13% year‑on‑year to a record €478bn. Net inflows strong at €6.5bn in Q4 (Nordic channels €4.8bn; international €1.7bn). Life & Pension net flows €1.3bn; Nordic retail funds Q4 net flows €1.7bn (up from €0.7bn in Q3).
Capital Strength and Shareholder Returns
CET1 ratio 15.7%, 1.9 percentage points above current regulatory requirements. Board proposed dividend €0.96 per share (up from €0.94). Completed €250m buyback and launched a new €500m buyback program.
Cost Management and Efficiency Gains
Costs decreased 3% year‑on‑year in Q4; full‑year operating expenses €5.4bn in line with guidance. Q4 cost‑to‑income ratio 46.2% (excluding regulatory fees), improved from 47.9% a year earlier. Efficiency improvements: spend per income reduced from EUR 0.57 (2019) to EUR 0.45.
Strong Credit and Asset Quality
Net loan losses and similar net result of €49m in Q4 (5 basis points), well below long‑term expectation (~10 bps). Continued reduction of management judgement buffer by €17m in the quarter (buffer now €276m).
Business Volume Growth Across Key Segments
Corporate lending up 8% year‑on‑year; large corporates & institutions lending up 10% YoY (20% in Sweden). Business Banking lending +6% YoY and deposits +5%. Retail deposits up 6% and mortgages up 1% YoY.
Markets and Fee Income Momentum
Net fee and commission income up 3% YoY in Q4; net fair value result up 28% YoY driven by higher customer activity, FX and interest rate hedging and strong treasury/markets performance. Secondary equities income grew 26% YoY.
Digital Progress and Customer Satisfaction
Customer satisfaction improved by 4–10 index points across all four business areas; achieved everyday banking digital coverage target by end of 2025. App users +3% and log‑ins +5% in Q4 for Personal Banking.
Achievement of Strategic Targets and 2026 Guidance
Closed the strategy period having met or exceeded targets (ROE target lifted from >13% to >15%, achieved 15.5%). Outlook for 2026: expected ROE >15% and cost‑to‑income ratio ~45% (ex regulatory fees); long‑term target to reach 40–42% by 2030.
DE:04Q Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:04Q Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 29, 2026 | €15.58 | €15.08 | -3.18% |
Oct 16, 2025 | €13.26 | €13.67 | +3.11% |
Jul 17, 2025 | €11.69 | €11.43 | -2.21% |
Apr 16, 2025 | €10.47 | €10.63 | +1.48% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Nordea Bank Abp (DE:04Q) report earnings?
Nordea Bank Abp (DE:04Q) is schdueled to report earning on Apr 22, 2026, Before Open (Confirmed).
What is Nordea Bank Abp (DE:04Q) earnings time?
Nordea Bank Abp (DE:04Q) earnings time is at Apr 22, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
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What is the P/E ratio of Nordea Bank Abp stock?
The P/E ratio of Nordea Bank Abp is N/A.
What is DE:04Q EPS forecast?
DE:04Q EPS forecast for the fiscal quarter 2026 (Q1) is 0.34.