Nordea
Nordea Bank Abp, commonly referred to as Nordea, is a Nordic financial services group operating in northern Europe with headquarters in Helsinki, Finland. The name is a blend of the words "Nordic" and "idea". The bank is the result of the successive mergers and acquisitions of the Finnish, Swedish, Danish, and Norwegian banks of Merita Bank, Nordbanken, Unidanmark, and Christiania Bank og Kreditkasse that took place between 1997 and 2001. The Nordic countries are considered Nordea's home market, having finalised the sales of their Polish bank in 2014, Baltic operations in 2019 and completed the exit from Russia in early 2022 following a 2019 decision to close the business there. Nordea is listed on Nasdaq Nordic exchanges in Helsinki, Copenhagen, and Stockholm and Nordea ADR is listed in the US.
Native name | Nordea Bank Abp |
|---|---|
| Formerly | Merita Bank, Unibank, Nordbanken, Kreditkassen |
| Company type | Public limited company (Publikt Aktiebolag) |
| ISIN | FI4000297767 |
| Industry | Financial services |
| Founded | 1820 as Sparekassen for Kjøbenhavn og Omegn |
| Founder | Hans Dalborg |
| Headquarters | Helsinki, Finland |
Key people | |
| Products | Corporate and retail banking, asset management |
| Revenue | €9.62 billion (2021) |
| €4.94 billion (2021) | |
| €3.83 billion (2021) | |
| AUM | €411.3 billion (2021) |
| Total assets | €570.35 billion (2021) |
| Total equity | €33.50 billion (2021) |
Number of employees | 26,894 (Dec 2021) |
| Capital ratio | 17.0% |
| Rating | AA (Fitch Ratings) |
| Website | www |
| Footnotes / references | |
Nordea serves 9.3 million private and 530,000 active corporate customers, including 2,650 large corporates and institutions. Nordea's credit portfolio is distributed across Finland (21%), Denmark (26%), Norway (21%), and Sweden (30%). There are four Business Areas (BAs) at Nordea, Personal Banking, Business Banking, Large Corporates & Institutions, and Asset & Wealth Management. Assets under Management (AUM) were €411 billion in December 2021.
Nordea has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, first as the Finnish arm of the Stockholm-based group and since 2017 as a financial holding company. As a consequence, it is directly supervised by the European Central Bank.