Achieved stable financial performance in Q3 2025, with continued growth in core business, strong customer inflow, and net savings momentum; customer base grew 13% year-over-year to 2.29 million, and savings capital increased 16% to SEK 1,143 billion.
Record cross-border trading activity, with 38% of trades executed outside customers' home markets, driven by positive market sentiment in Europe and the U.S.; app won the Red Dot Design Award.
Revenues increased 7% year-over-year, with adjusted profit before tax up 6% to SEK 904 million and operating margin at 69%.
Diversified revenue streams and strong operating leverage supported profitable growth.
One-time loss of SEK 18 million from a corporate action error recognized as a non-recurring item.
Adjusted total income for Q3 2025 was SEK 1,308 million, up 7% year-over-year; operating income was SEK 1,290 million, up 5% year-over-year.
Operating expenses increased 13% year-over-year to SEK 403 million, with SEK 14 million related to the German market launch.
Net savings for the quarter reached SEK 20.8 billion, up 28% year-over-year; number of trades rose 22% to 15.7 million.
Net interest income declined 12% to SEK 574 million, mainly due to lower rates and the sale of the unsecured lending portfolio.
Liquidity to deposits ratio at 72% and leverage ratio at 5.4%, both considered strong.
Cost growth expected to remain in line with full-year guidance; full-year costs to align with financial targets despite German investments.
Medium-term targets include customer growth of 13–15% per annum and average savings capital per customer around SEK 500,000.
Ongoing share buyback program of SEK 250 million, with plans for an additional SEK 250 million; dividend policy at 70% payout.
Continued focus on profitable growth, market share expansion in the Nordics, and launch in Germany in H2 2026.
Deposit and lending volumes expected to grow over time with a larger customer base and high net savings.
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Nordnet is a Nordic online broker that offers a range of financial services, including investment solutions, savings accounts, loans, and insurance. The company was founded in 1996 and is headquartered in Stockholm, Sweden. Nordnet is one of the largest online banks in the Nordic region, with almost two million customers in Sweden, Norway, Denmark, and Finland.
Further reading: 5 Leading Online Brokers for Innovation
Nordnet's investment offerings include stocks, funds, certificates and exchange-traded funds (ETFs), as well as a range of tools and educational resources to help customers make informed investment decisions. The company also offers a range of savings accounts, including tax-free savings accounts and retirement accounts.
Nordnet has a substantial competitive advantage in the online banking industry, with a focus on low fees, user-friendly digital platforms, and a strong customer-centric approach. An interesting fact about Nordnet is that it was the first company in Sweden to offer internet-based brokerage services, revolutionizing the way people invest in the stock market. The company's innovative approach to online investing has made it one of the most popular online brokers in the Nordics, with almost two million active customers in Sweden, Norway, Denmark, and Finland.
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