Nordea awarded Best Bank by Euromoney

07-07-16 11:03 | Awards | About Nordea

At the ceremony Euromoney Awards for Excellence 2016 in London last night, Nordea was awarded the prestigious awards Sweden’s Best Bank and Finland’s Best Bank*.

- I am proud of this award as it shows the great capacity and strength that Nordea has. I share it with all the amazing employees, who are contributing to it, and with our customers, who now have proof that they have chosen the right bank, says CEO Casper von Koskull.

The award Best Bank is given on a country, regional and global level. It is a result of an analysis made by Euromoney, screening both quantitative and qualitative data on Nordea’s results, strategically as well as financially, during the period 1 April 2015 to 31 March 2016.

The data analysed are the following: market capitalisation, total revenues, pre-tax profit, net income, return on tangible common equity, return on assets, net interest margin, cost/income ratio, Basel 3 tier 1 capital, market share deposits, market share loans, loans to deposit ratio, non-performing loan ratio, non-performing loan coverage ratio.

Nordea Sweden received the following motivation: Nordea has extraordinarily high profitability and capital compared to other European banks, particularly of its size. This year’s return on equity at Nordea - led since late last year by Group CEO Casper von Koskull - rose to 12.3 per cent from 11.5 per cent in 2014, and its common equity tier 1 ratio rose to 16.4 per cent.

Nordea Finland received the following motivation: Despite a tough economic environment, Finland’s second biggest bank, the local division of Nordea, posted a strong set of financial results in 2015. Operating income increased 9 per cent to 2.5 billion euro, while profit before tax increased by 24 per cent to 1.4 billion euro. Return on equity reached 9.6 per cent and the cost-to-income ratio fell to 40 per cent from 48 per cent in 2014.

Read more on Euromoney

*Nordea also received the award as Estonia’s Best Bank and Denmark’s Best Investment Bank for the same period as above.

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