HELSINKI (dpa-AFX) - Nordea Bank Abp (NDA_DK.CO, NDA-DK.CO, NBNKF) reported Thursday lower third-quarter profit, despite growth in total operating income.
For 2026, the Finnish banking group continues to target a return on equity greater than 15 percent and a cost-to-income ratio of 44-45 percent.
The bank's 2030 strategy remains on track with clear progress made during the quarter. Nordea targets a return on equity greater than 15 percent throughout the period and significantly higher in 2030, along with a cost-to-income ratio of 40-42 percent in 2030.
In the third quarter, net profit was €1.18 billion, compared with €1.23 billion in the prior year period, representing a 4 percent decline.
Earnings per share fell 3 percent to €0.35 from €0.36 a year ago.
Operating profit declined 4 percent to €1.54 billion from €1.60 billion in the prior year.
The banking group, which provides retail and corporate banking services, saw total operating income rise 2 percent to €2.97 billion from €2.91 billion a year ago.
Net interest income increased 1 percent year-on-year to €1.80 billion, with volume growth partially offset by lower lending margins. Quarter-on-quarter, net interest income also rose 1 percent.
Net fee and commission income reached €880 million, up 9 percent from €811 million a year ago. The increase was driven by 14 percent growth in savings income.
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