Nordea reported Q3 figures on Friday, and it continues to show signs of improvement. Q3 in isolation delivered a beat on most lines in the P&L and a >10% ROE, and importantly, if we look at rolling 12-month figures, Nordea has now delivered three sequential quarters of both revenue growth and growth in PBLL. With prospects of lower losses as well this is beginning to look like it might be a case again soon. We stick to Hold for now, but raise our TP to SEK 75 (72)
