Danske Bank (DANSKE NO) affirms FY26 NII slightly above DKK 38bln

For Nordic banks in this cycle, NII guidance has been the central line, since the tailwind from higher rates on deposit spreads has been fading as policy rates come down and deposit betas normalise, making the floor on NII the key marker of how much margin compression management is absorbing. Affirmations of this kind have historically mattered less for the number itself than for what they imply about the other levers: fee income, costs, and the capital return capacity that underpins the sector's valuation case. The follow-ons are the accompanying detail on deposit volumes and margins, any change to cost or loan-loss guidance, and whether peers' prints point the same direction on Nordic NII trajectory. As guidance rather than a hard print, the signal is confirmation of trend rather than new information.