Nordea

Nordea Bank AB

Type	Publicly traded Aktiebolag
Traded as	OMX: NDA SEK
Industry	Financial services
Founded	2000
Headquarters	Stockholm, Sweden
Key people	Björn Wahlroos (Chairman), Christian Clausen (President and CEO)
Products	Corporate and retail banking, asset management
Revenue	€9.334 billion (2010)[1]
Operating income	€3.639 billion (2010)[1]
Net income	€2.657 billion (2010)[1]
AUM	€191.0 billion (2010)[1]
Total assets	€580.8 billion (end 2010)[1]
Employees	33,810 (FTE, end 2010)[1]
Website	nordea.com

Nordea Bank AB is a Stockholm-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 considered part of the home market, Latvia already having a branch of Nordea (Latvian: Nordea banka) from 2006. 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 has more than 1,400 branches and 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 is the world leader of internet banking in terms of usage, having more than 5.9 million online customers doing more than 260 million payments / 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.

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%

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.

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.
• List of oldest companies, as Nordea is the oldest bank in Sweden, with roots from 1820.

Nordic headquarters

• 

  Global headquarters in Stockholm

• 

  Danish headquarters in Copenhagen

• 

  Norwegian headquarters in Oslo

• 

  Office in Helsinki

References

1. ^ ^{a b c d e f} "Annual Results 2009". Nordea. http://hugin.info/1151/R/1484713/419917.pdf. Retrieved 3 February 2011. 
2. ^ ^{a b} "Nordea Contact in Europe and the World". Nordea. http://www.nordea.com/About+Nordea/Contact/Europe+and+the+World/1086442.html. Retrieved Septermber 2010. 
3. ^ http://www.nordea.com/About+Nordea/Nordea+overview/Facts+and+figures/1081354.html
4. ^ Swedish bank hit by 'biggest ever' online heist | CNET News.com

External links

• Official website
• Yahoo! - Nordea Bank AB Company Profile