We’ve made only minor estimate changes ahead of Q4, mainly small tweaks to non-interest income and small adjustments to our DPS estimate for 2026. We expect NII to decline 3% q/q, primarily driven by reversal of some tailwinds in Q3 and effects from the last rate cut with effect from October. Lending growth in Sweden still seems muted, though there are some signs of improvement following all the rate cuts and a supportive financial policy backdrop, and we expect improving growth as the year prog ....
