Achieved record profit exceeding SEK 3.7 billion, driven by strong growth in core brokerage and fund business, robust customer expansion, and positive market sentiment, despite lower net interest income from rate cuts and macroeconomic challenges.
Customer base grew by 12% year-over-year to 2.35 million, with 255,000 new customers in 2025 and savings capital up 15% to SEK 1,183 billion.
Record quarter for cross-border trading, with 42% of trades outside the home market and high activity in U.S., European, and Nordic markets.
Launched a new Private Banking concept across all Nordic countries and received approval for a German banking license, with H2 2026 launch on track.
Proposed dividend of SEK 8.60 per share, maintaining a payout ratio of just over 70%.
Adjusted operating profit for Q4 2025 was SEK 966 million, up 5% year-over-year; full-year adjusted operating profit reached SEK 3,748 million, up 5%.
Adjusted operating income for Q4 was SEK 1,391 million, up 6% year-over-year; full-year adjusted operating income was SEK 5,389 million, up 6%.
Number of trades in Q4 2025 up 16% year-over-year to 16.1 million; trades per day up 20% from 2024.
Net commission income grew 22% in Q4 to SEK 822 million; fund-related net income rose 12% to SEK 181 million.
Net interest income declined 12% year-over-year in Q4 to SEK 561 million, reflecting lower market rates.
Net interest income expected to stabilize in 2026 as rates level off and deposit volumes grow.
German launch planned for H2 2026, with related investments of SEK 80–90 million expected in 2026.
Medium-term targets: 13–15% annual customer growth, average savings capital per customer of SEK 500,000, and 0.45% income in relation to savings capital.
Continued focus on cost control, commercial launch in Germany, and further development of private banking and fund business.
Dividend policy and capital structure targets remain unchanged for 2026.
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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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