Nordea pursued the NII party with rising deposit margins continuing to drive the top-line higher, although slightly slower than expected. The cost of risk remains subdued as asset quality remained strong despite the economic slowdown. Although the management continues to see some NII tailwinds in 2023-24, peak policy rates at the beginning of next year as well as pressured lending and deposit volumes, and rising competition, could lead to NII peaking over 2024, in-line with the rest of the secto ....
20 Oct 2023
Q3: NII party continues but peak could be in sight in 2024
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Q3: NII party continues but peak could be in sight in 2024
Nordea pursued the NII party with rising deposit margins continuing to drive the top-line higher, although slightly slower than expected. The cost of risk remains subdued as asset quality remained strong despite the economic slowdown. Although the management continues to see some NII tailwinds in 2023-24, peak policy rates at the beginning of next year as well as pressured lending and deposit volumes, and rising competition, could lead to NII peaking over 2024, in-line with the rest of the secto ....