Earnings Coach

Danske Bank

DANSKE

DNB

Handelsbanken

SHB

Swedbank

SWED

SEB

Upcoming Events

What will analysts ask you?4

4 likely questions · covering analysts & peer themes

1
How should we think about NIM progression in Q4 given deposit repricing and the front-book/back-book mix?
Erik Lindqvist · Nordea Markets·Central theme in his last two notes; peers flagged margin pressure in Q3.
2
Can you quantify the deposit beta seen in Sweden vs. the Baltics, and how pricing actions are affecting net flows?
Erik Lindqvist · Nordea Markets·Follow-up from Q3 call where management gave qualitative color only.
3
How do you see revenue trends evolving through the remainder of the year?
Sofia Bergman · SEB Equity Research·Standard earnings-call opener based on recent sector commentary.
4
Can you provide an update on cost efficiency initiatives and run-rate savings?
Sofia Bergman · SEB Equity Research·Cost discipline remains a recurring theme across peer coverage.

SEB@SEBGroup·9/4/26

Report

Analyst Note: Nordic NIM Trajectory Update

Goldman Sachs publishes updated peer-group note revisiting net interest margin sensitivity ahead of the next rate decision. The note flags diverging deposit repricing trajectories across the Nordic peer set and revises NIM forecasts downward by 4–7bps for H2, citing faster-than-expected pass-through on retail savings accounts.

sebgroup.com/investor-relations/analyst-note-nordic-nim-trajecto

Important

9/3/26·Intelligence Summary

DNB and Swedbank reporting the same day creates natural benchmarking opportunity. Watch for divergent margin commentary and how each addresses common sector headwinds. Comparative analysis will drive post-release trading patterns.

DNB@DNBgroup·9/3/26

Earnings Release

DNB Flash: Early Q Commentary Circulating

Peer earnings chatter intensifies as Norwegian desk notes highlight stronger-than-feared corporate volume growth in Q3. Early buy-side commentary suggests DNB loan book expansion outpaced consensus by roughly 3%, driven by large-cap Norwegian energy and shipping clients. Credit quality metrics appear stable despite the macro headwinds flagged last quarter.

dnb.no/investor-relations/dnb-flash-early-q-commentary-cir

Critical

Swedbank@Swedbank·9/3/26

Report

Morgan Stanley Initiates Coverage Refresh

Updated sell-side model and thesis for Swedbank with revised ROE and capital return assumptions.

swedbank.com/investor-relations/morgan-stanley-initiates-coverag

Important

Handelsbanken@Handelsbanken·9/3/26

Corporate Event

Peer Investor Call Recap Circulates

Buy-side notes summarize Handelsbanken management commentary on cost discipline and branch economics.

handelsbanken.com/investor-relations/peer-investor-call-recap-circula

Danske Bank@DanskeBank·9/3/26

Earnings Release

Danske Bank Quarterly Results Published

Danske releases quarterly figures with emphasis on transformation progress and Danish retail franchise trends. Net profit came in at DKK 5.9B, beating consensus by 4%. The cost/income ratio improved 180bps year-on-year as the bank executes on its Forward '28 efficiency program, though management cautioned that mortgage market softness in Copenhagen could weigh on H2 retail volumes.

danskebank.com/investor-relations/danske-bank-quarterly-results-pu

Critical