The result was good, of course, but not exceptional in any way. Although, one would expect that in a stable banking business. The forecast deviations on the revenue side came largely from these “other” items. That massive growth in AUM from the previous quarter was definitely a big deal and will support earnings in the future as well.
I haven’t turned that positive yet; you will certainly notice it in the target price and recommendation if this becomes my base scenario
It is by no means impossible, provided Nordea gets support from interest rate levels and economic development in addition to its own good performance.