Nordea Bank AB

Nordea is a Swedish financial services group, the largest one in the Nordic and Baltic region. Nordea focused on prodiving corporate and institutional banking as well as retail and private banking products and services. Nordea also offers life insurance and pensions products.

Financials

Total Assets (2017)
4 110.20 bln SEK  (+137.38%)
Net Income (2017)
3 048.00 mln EUR  (+5.10%)
Number of Employees (2017)
6 912  (+1.98%)

In 2017 total assets of Nordea Bank AB were 4 110,20 bln SEK. In 2017 the bank's net income was 3 048,00 mln EUR. Nordea Bank AB had 6 912 employees in 2017.

Nordea Bank AB is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is AA- (very high credit quality). Long-term credit rating assigned to the bank by Moody's is Aa3 (high grade).

Nordea Bank AB participates in deposit guarantee scheme of Sweden. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Head of Group

 Nordea (Sweden)

Contacts

Smålandsgatan 17,N/A, 105 71, Stockholm, Sweden
08-614 70 00

Nordea Bank AB is headquartered in Stockholm.

Bank Identifiers

MFI ID
SE5164060120
Company Number
516406-0120

Financial Positions

Total Assets (2017)
4 110.20 bln SEK  (+137.38%)
Total Equity (2017)
300.61 bln SEK  (+54.19%)

In 2017 total assets of Nordea Bank AB were 4 110.20 bln SEK. Growth compared to the previous period (2016) was 137.38%. The evolution of the total assets of Nordea Bank AB is shown at Chart 1 below.

Total Assets of Nordea Bank AB.

Chart 1. Total Assets of Nordea Bank AB.

Recent changes in total assets of Nordea Bank AB and its main components are shown in Table 1.

2016 2017 % change
Loans to customers 417.7 1 503.5 +259.96%
Total Assets 1 731.5 4 110.2 +137.38%
Table 1. Recent changes in total assets of Nordea Bank AB (bln SEK).

Recent changes in total liabilities of Nordea Bank AB and its main components are shown in Table 2.

2016 2017 % change
Customer deposits 555.8 1 734.8 +212.13%
Total Liabilities 1 731.5 4 110.2 +137.38%
Table 2. Recent changes in total liabilities of Nordea Bank AB (bln SEK).

Profit and Loss

Net Income (2017)
3 048.00 mln EUR  (+5.10%)

In 2017 net income of Nordea Bank AB was 3 048.00 mln EUR. Growth compared to the previous period (2016) was 5.10%. The evolution of the net income of Nordea Bank AB is shown at Chart 2 below.

Net Income of Nordea Bank AB.

Chart 2. Net Income of Nordea Bank AB.

Number of Employees

Number of Employees (2017)
6 912  (+1.98%)

In 2017 there were 6 912 employees of Nordea Bank AB. Growth compared to the previous period (2016) was 1.98%. The evolution of the number of employees of Nordea Bank AB is shown at Chart 3 below.

Number of Employees of Nordea Bank AB.

Chart 3. Number of Employees of Nordea Bank AB.

Credit Ratings (as of May 2018)

Fitch Moody's
AA- (very high credit quality) Aa3 (high grade)

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Nordea Bank AB is rated by Fitch and Moody's.

Credit ratings assigned to Nordea Bank AB as of May 2018 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Nordea Bank AB it is set to AA- (very high credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Nordea Bank AB is set to F1+ (highest short-term credit quality).

Long-Term Issuer Default Rating  AA-
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  F1+
Viability Rating  aa-
Support Rating  2
Support Rating Floor  BBB-

Viability rating for Nordea Bank AB is set to aa- (very high fundamental credit quality); support rating is 2 (high probability of external support); support rating floor is BBB- (good credit quality).

Moody's

Long-term rating for Nordea Bank AB it is set to Aa3 (high grade). Long-term bank deposit rating is Aa3 (high grade). Baseline credit assessment is a3. Short-term rating is not assigned.

Long-Term Rating  Aa3
Long-Term Bank Deposit Rating  Aa3
Baseline Credit Assessment  a3
Short-Term Rating  -
Outlook  stable

Outlook for the ratings of Nordea Bank AB is set to stable (not likely to change).

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Sweden are obliged to participate in Swedish deposit guarantee scheme.

In the case of Nordea Bank AB failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  private individuals, companies and other legal entities
Covered Accounts  deposits in all types of accounts
Maximum Protected Amount  100 000 EUR
Paid In Currency  EUR

Further Information

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of Nordea Bank AB is shown in the table below.

MFI ID  SE5164060120

Company Registration Number

Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.

Company Number  516406-0120

Domestic Presence

Branches (2017)
133  (-16.35%)

In 2017 Nordea Bank AB had 133 branches in Sweden. Decline compared to the previous period (2016) was -16.35%. The evolution of the number of branches of Nordea Bank AB is shown at Chart 4 below.

Branches of Nordea Bank AB.

Chart 4. Branches of Nordea Bank AB.

European Presence: 16 banks in 9 countries

Nordea Bank AB operates under the brand name Nordea. This banking brand has presence in the following European countries and selected dependent territories of the European countries:

Denmark

Estonia

Finland

Germany

Luxembourg

Norway

Poland

Sweden

United Kingdom

Defunct Banks: 12 banks in 9 countries

The following banks operating under Nordea brand name has been recently closed down:

Cayman Islands

Denmark

Finland

Germany

Latvia

Lithuania

Norway

Poland

Switzerland