Nordea again delivered a strong Q3 underpinned by an NIM improvement which was largely driven by interest rate rises. The management expects this to continue and has upgraded its estimates of NII growth due to higher policy rates for the coming years. The 2022 guidance was upgraded on the back of the C/I ratio while the 2025 targets were maintained although their achievement looks easily achievable given the positive outlook given on NII.
21 Oct 2022
Q3: Reinforcing the NII tailwind
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Q3: Reinforcing the NII tailwind
Nordea again delivered a strong Q3 underpinned by an NIM improvement which was largely driven by interest rate rises. The management expects this to continue and has upgraded its estimates of NII growth due to higher policy rates for the coming years. The 2022 guidance was upgraded on the back of the C/I ratio while the 2025 targets were maintained although their achievement looks easily achievable given the positive outlook given on NII.