Nordics 2Q26 Pre-Close Calls Expectations

Nordic banks are expected to report higher quarter-over-quarter Net Interest Income in 2Q26, driven by higher rates and increased day counts. The report outlines expected impacts from SEK currency movements and current volume growth trends across Nordic markets.

Key Takeaways

• 1.Nordic banks are expected to report higher Net Interest Income (NII) q/q due to higher market rates, higher mortgage rates, and an extra day count in 2Q26.
• 2.The SEK depreciation vs EUR is expected to be a revenue headwind for Nordea and a revenue tailwind for Swedish banks with Baltic operations.

Table of Contents

• Pre-Close Call Calendar (all times are GMT)
• Net Interest Income
• Fees
• Costs
• Foreign Exchange
• Valuation and Key Risks
• Appendix
• Disclosure Appendix