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  September 5, 2001
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Home > Company Index > Banking > Banking - Europe > Nordea AB

Nordea AB
 PROFILE
A warm economic climate has thawed chilliness left from Sweden's reign over Finland (which ended in 1809). Finland's Merita and Sweden's Nordbanken merged to form parent firm Nordea (previously Nordic Baltic Holding) in one of the first European cross-border bank mergers. The banks, along with Denmark-based Unidanmark (acquired in 2000), provide retail and corporate banking, asset management, and insurance to more than nine million individuals and about 600,000 companies in their home countries, as well as in Estonia, Latvia, Lithuania, and Poland. The firm is phasing out its real estate portfolio. The Swedish government owns more than 40% of Nordea, which bought Christiania Bank og Kreditkasse of Norway.

 COMPETITION
Skandinaviska Enskilda Banken AB (SEBA)
Svenska Handelsbanken AB (SHB)

 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 9,110.90
1-Yr. Sales Growth: 51.8%
Employees: 32,218
Revenue per employee: $282,789.12

 KEY PEOPLE
• Thorleif Krarup
    CEO
• Arne Liljedahl
    CFO

 CONTACT INFO
Hamngatan 10
SE-10571 Stockholm, Sweden
Phone: 46-8-614-7000
Fax: 46-8-105-069
Online: Web Site

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