Nordea Bank AB |
Type | Publicly traded Aktiebolag |
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Traded as | OMX: NDA SEK |
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Industry | Financial services |
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Founded | 2000 |
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Headquarters | Stockholm, Sweden |
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Key people | Björn Wahlroos (Chairman), Christian Clausen (President and CEO) |
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Products | Corporate and retail banking, asset management |
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Revenue | €9.501 billion (2011)[1] |
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Net income | €2.634 billion (2011)[1] |
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AUM | €187.4 billion (2011)[1] |
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Employees | 33,068 (FTE, end 2011)[1] |
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Website | nordea.com |
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Nordea Bank AB, commonly referred to as Nordea, is a Nordic-based financial services group operating in Northern Europe. The bank is the result of the successive mergers and acquisitions of the Swedish, Finnish, Danish and Norwegian banks of Nordbanken, Merita Bank, Unibank and Kreditkassen (Christiania Bank) that took place between 1997 and 2000. The Baltic countries and Poland are today also considered part of the home market. The largest share holder of Nordea is Sampo a Finnish insurance company with around 20% of the shares. Nordea is listed on the Stockholm Stock Exchange, Helsinki Stock Exchange and Copenhagen Stock Exchange.
Nordea is headquartered from Stockholm and has more than 1,400 branches. The bank is present in 19 countries around the world, operating through full service branches, subsidiaries and representative offices.
The international corporate banking division has branches in Germany (Frankfurt), United Kingdom (London), Singapore, China (Shanghai)[2] and in the United States (New York). Nordea International private banking has its headquarters in Luxembourg with branches in Belgium (Brussels), France (Cannes), Luxembourg, Spain (Fuengirola - Málaga) and Switzerland (Zurich). Besides, Nordea also has representative offices in Brazil (São Paulo) and China (Beijing).[2]
Nordea currently serves 11 million private[3] and 700,000 active corporate customers. The group also operates an internet bank, which has more than 5.9 million online customers doing more than 260 million payments per year.
History
Nordea is the result of the successive mergers and acquisitions of the Swedish, Finnish, Danish and Norwegian banks of Nordbanken, Merita Bank, Unibank and Kreditkassen (Christiania Bank) that took place between 1997 and 2000. The name Nordea comes from the Swedish bank Nordbanken, which was based on PK-banken (Post och Kreditbanken; owned by Swedish state) which in 1990 purchased the smaller private bank Nordbanken, and picked up that name. PK-banken was formed in 1974 at a merger between Postbanken (formed 1884) and Sveriges Kreditbank (formed 1923), both state owned.
The private Nordbanken was formed in 1986 at a merger between two smaller private local banks, Uplandsbanken and Sundsvallsbanken. In 1991 the Swedish Banking Crisis, resulting from deregulated markets and a housing price bubble, forced the government to nationalise Nordbanken for 64 billion kronor. Bad debts were transferred to the asset-management companies Securum and Retriva which sold off the assets.
Ownership
Nordea is owned by (1.6.2011):
1. Sampo Group, a Finnish financial corporation, 21.3%
2. The Swedish state, 13.5%
3. Nordea Fonden, 3.9%
4. Swedbank Robur Funds, 3.3%
5. AMF Insurance and Funds, 2.1%
Nordea Markets
Nordea Markets is the international markets operation of Nordea. It handles a broad range of investment banking products and services including fixed income, currencies, commodities, equities, debt capital markets, and corporate finance. It also supplies advisory services and internationally acknowledged economic research and analysis.
There are approximately 2,200 employees including Financial Risk Control and Capital Markets Services. Its main operational centres are in Copenhagen (also the main trading floor), Helsinki, Oslo and Stockholm, and with regional offices also in Estonia, Latvia, Lithuania, Poland, Russia, Singapore and USA.
The organisation's stated aim is to provide rapid, easy access to market and trading facilities and a strong local presence to its customers in all its regions. It operates with a mission statement of "Making it possible" and a vision statement of "A great European, capital markets and investment banking organisation, acknowledged for its people, creating superior value for customers and shareholders".
Online theft
In 2007 Nordea was the subject of an online phishing scam. The amount of money involved was "between seven and eight million SEK".[4] The theft was perpetrated by targeting Nordea customers with phishing emails containing a trojan horse, that was especially made for this robbery. Apparently these emails were sent out over a period of 15 months. According to Nordea, at least 250 people had unwittingly installed the trojan. The thieves evaded detection by limiting their transfers to small sums. Nordea has refunded all the victims and has implemented a new security system, Chip Authentication Program[5]
Subsidiaries
The Danish headquarters of Nordea is located in Christianshavn,
Copenhagen.
- Nordea Bank Danmark A/S
- Nordea Bank Finland Abp / Nordea Pankki Suomi Oyj
- Nordea Bank Latvia
- Nordea Bank Lithuania
- Nordea Bank Norge ASA
- Nordea Bank Polska S.A.
- Nordea Bank Russia
See also
| Companies portal |
- PlusGirot – open clearing system in Sweden owned by Nordea
- European Financial Services Roundtable
- Inter-Alpha Group of Banks
- Kansallis-Osake-Pankki
- Unibank (Denmark), for the history of the banks that formed Nordea in 2000.
- Daftar/Tabel -- oldest companies, as Nordea is the oldest bank in Sweden, with roots from 1820.
- Daftar/Tabel -- investors in Bernard L. Madoff Securities
Nordic headquarters
Global headquarters in Stockholm
Norwegian headquarters in Oslo
References
External links
OMX Copenhagen 20 companies of Denmark |
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| - A.P. Møller-Mærsk
- Carlsberg
- Chr. Hansen
- Coloplast
- Danske Bank
- DSV
- FLSmidth & Co.
- GN Store Nord
- Lundbeck
- NKT Holding
- Nordea
- Novo Nordisk
- Novozymes
- Pandora
- TDC
- Topdanmark
- Tryg
- Vestas Wind Systems
- William Demant
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OMX Helsinki 25 companies of Finland |
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| - Cargotec
- Elisa
- Fortum
- Kemira
- Kesko
- KONE
- Konecranes
- Metso
- Neste Oil
- Nokia
- Nokian Tyres
- Nordea
- Orion Corporation
- Outokumpu
- Outotec
- Pohjola Bank
- Rautaruukki
- Sampo
- Sanoma
- Stora Enso
- Talvivaara Mining Company
- TeliaSonera
- UPM
- Wärtsilä
- YIT
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OMX Stockholm 30 companies of Sweden |
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| - ABB
- Alfa Laval
- Assa Abloy
- AstraZeneca
- Atlas Copco
- Boliden
- Electrolux
- Ericsson
- Getinge
- Hennes & Mauritz
- Investor AB
- Lundin Petroleum
- Modern Times Group
- Nokia
- Nordea
- Sandvik
- SCA
- Scania
- SEB
- Securitas
- Skanska
- SKF
- SSAB
- Svenska Handelsbanken
- Swedbank
- Swedish Match
- Tele2
- TeliaSonera
- Volvo
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50 largest banks in Russia in terms of net assets (as of July 2011) |
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| In alphabetic order | | - Absolut Bank
- Ak Bars
- Alfa-Bank
- B&N Bank
- Bank of Khanty-Mansiysk
- Bank of Moscow
- Bank Saint Petersburg
- Citibank
- Credit Bank of Moscow
- Credit Europe Bank
- Deutsche Bank
- Evrofinance Mosnarbank
- Gazprombank
- Globex
- Home Credit & Finance Bank
- ING Bank
- Intesa
- KIT Finance
- MDM Bank
- Moscow Bank for Reconstruction and Development
- Moscow Industrial Bank
- NOMOS Bank
- National Bank Trust
- National Clearing Centre
- National Settlement Depository
- Nordea Bank
- Orient Express Bank
- Otkritie
- OTP Bank
- Petrocommerce
- Promsvyazbank
- Raiffeisenbank
- Rosbank
- Rossiya
- Rusfinance
- Russ-Bank
- Russian Agricultural Bank
- Russian Bank for Small and Medium Enterprises Support
- Russian Standard
- Sberbank
- Sviaz-Bank
- Transcapitalbank
- TransCreditBank
- Uniastrum Bank
- UniCredit Bank
- Uralsib
- Vozrozhdenie
- VTB
- VTB 24
- Zenit
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Members of Euro Banking Association |
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| Austria | - Allgemeine Sparkasse Oberösterreich
- Bank für Tirol und Vorarlberg AG
- BKS Bank AG
- Erste Group Bank AG
- Oberbank AG
- Oesterreichische Nationalbank
- Raiffeisen Zentralbank Österreich AG
- Raiffeisenlandesbank Oberösterreich AG
- Raiffeisen-Landesbank Tirol Aktiengesellschaft
- Steiermärkische Bank und Sparkassen AG
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| Belgium | - Dexia Bank NV
- KBC Bank NV
- Bank van De Post
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| Cyprus | - Bank of Cyprus
- Hellenic Bank
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| Denmark | - Amagerbanken A/S
- Arbejdernes Landsbank A/S
- Danske Andelskassers Bank A/S
- Danske Bank A/S
- DiBa Bank A/S
- Djurslands Bank A/S
- Jyske Bank A/S
- Nordjyske Bank A/S
- Nørresundby Bank
- Østjydsk Bank A/S
- Ringkjøbing Landbobank
- Roskilde Bank A/S
- Skjern Bank
- Spar Nord Bank
- Sparekassen Sjælland
- Sydbank A/S
- Vestfyns Bank A/S
- Vestjysk Bank
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| Finland | - Aktia Bank PLC
- Bank of Åland PLC
- Pohjola Bank PLC
- S-Bank LTD.
- Tapiola Bank LTD
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| France | - Banque Michel Inchauspé - BAMI
- Banque Palatine
- BNP Paribas SA
- BPCE
- BRED Banque Populaire
- Crédit Agricole SA
- Crédit Coopératif
- Crédit du Nord
- Crédit Mutuel Arkéa
- Credit Mutuel CIC Banque
- HSBC France
- La Banque postale
- Natixis
- Société Générale
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| Germany | - Berenberg Bank
- BHF Bank
- Bremer Landesbank
- Commerzbank AG
- Deutsche Bank AG
- Deutsche Bundesbank
- Deutsche Postbank
- DZ Bank AG
- Europe Arab Bank Frankfurt
- Hamburger Sparkasse AG
- J.P. Morgan Chase Bank AG
- Landesbank Baden-Württemberg
- Landesbank Berlin Holding
- Landesbank Hessen-Thüringen
- Oldenburgische Landesbank
- SECB Swiss EURO CLEARING Bank GmbH
- The Bank of New York Mellon, Frankfurt Branch
- VTB Bank (Deutschland) AG
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| Greece | - Alpha Bank AE
- EFG Eurobank Ergasias SA
- National Bank of Greece SA
- Piraeus Bank SA
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| Hungary | - Magyar Nemzeti Bank
- OTP Bank
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| Ireland | |
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| Italy | - Banca Agricola Popolare di Ragusa
- Banca del Fucino
- Banca del Piemonte
- Banca delle Marche S.p.A.
- Banca di Imola S.p.A.
- Banca di Romagna S.p.A.
- Banca d'Italia
- Monte dei Paschi di Siena
- Banca Monte Parma
- Banca Nazionale del Lavoro
- Banca Popolare del Lazio
- Banca Popolare dell'Emilia Romagna
- Banca Popolare di Milano
- Banca Popolare di Sondrio
- Banca Popolare di Spoleto
- Banca Popolare di Vicenza
- Banca Sella
- Bancaperta S.p.A.
- Banco Popolare Società Cooperativa
- Cassa di Risparmio della Provincia di Chieti S.p.A.
- Cassa di Risparmio della Provincia di Teramo S.p.A.
- Cassa di Risparmio di Cesena S.p.A.
- Cassa di Risparmio di Fermo S.p.A.
- Cassa di Risparmio di Ferrara S.p.A.
- Cassa di Risparmio di Loreto S.p.A.
- Cassa di Risparmio di Ravenna S.p.A.
- Credito Emiliano S.p.A.
- ICCREA Banca
- Intesa Sanpaolo
- Istituto Centrale delle Banche Popolari Italiane
- Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige
- Südtiroler Volksbank – Banca Popolare dell'Alto Adige
- UBI Banca
- UGF Banca
- UniCredit
- Veneto Banca
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| Luxembourg | - Banque et Caisse d'Épargne de l'État
- Banque Raiffeisen
- Dexia Banque Internationale à Luxembourg SA
- KBL European Private Bankers
- Société Générale Bank & Trust
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| Netherlands | - ABN Amro Bank NV
- De Nederlandsche Bank
- ING Bank NV
- Rabobank Nederland
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| Poland | - Bank BPH SA
- Narodowy Bank Polski
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| Portugal | - Banco BPI SA
- Banco Comercial Português
- Banco Espírito Santo
- Caixa Central de Crédito Agrícola Mútuo
- Caixa Geral de Depósitos
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| Slovenia | |
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| Spain | - Banco Bilbao Vizcaya Argentaria, SA
- Banco Español de Crédito, SA (Banesto)
- Banco Pastor, SA
- Banco Popular Español, SA
- Banco Sabadell, SA
- Bankia, SA
- Bankinter, SA
- Grupo Santander, SA
- Caixa d'Estalvis i Pensions de Barcelona (La Caixa)
- Caixa d'Estalvis de Catalunya, Tarragona i Manresa (CatalunyaCaixa)
- Gipuzkoa eta Donostiako Aurrezki Kutxa (Kutxa)
- Bilbao Bizkaia Kutxa
- NCG Banco, S.A (Novagalicia Banco)
- Caja Laboral Popular Cooperativa de Crédito (Caja Laboral)
- Grupo Caja Rural / Banco Cooperativo Español, SA (Caja Rural)
- Spanish Confederation of Savings Banks
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| Sweden | - Skandinaviska Enskilda Banken
- Svenska Handelsbanken
- Swedbank AB
- Nordea Bank AB
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| United Kingdom | - Bank of America NA
- Bank of Tokyo-Mitsubishi UFJ Ltd.
- Barclays Bank PLC
- Citibank NA
- HSBC Bank PLC
- Kookmin Bank International Ltd.
- Lloyds TSB Bank PLC
- National Australia Bank Limited
- National Westminster Bank PLC
- Royal Bank of Scotland PLC
- Standard Chartered Bank
- UBS AG
- Wells Fargo Bank NA
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| Non-EU | - Bank of China (CHN)
- DnB NOR Bank (NOR)
- MashreqBank psc (UAE)
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| Associate Members | |
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