S&P Global – Nordic Banking Outlook, 2025

The report by S&P Global "Nordic Banking Outlook 2025" provides an analysis of the stable outlook for the Nordic banking sector amid gradual economic recovery and digital advancements. The report anticipates a gradual recovery in Sweden and Finland and stable growth in Denmark and Norway. Despite declining inflation supporting domestic demand, elevated financing costs and external challenges could impact growth. Nordic banks are expected to maintain robust profitability, though net interest margins may decline with policy rate cuts. The report highlights the sector's strong capital levels and efficiency gains from digital advancements, including AI, which are expected to drive investment needs.