Our history

Realising dreams for 200 years

We have been helping our customers realise their dreams and aspirations for 200 years.

That makes us proud – because when our customers succeed, we succeed.
Take a journey in time with us through two centuries in the banking business.

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Roots dating back to 1820

Our family tree of around 300 banks includes some of the oldest banks in the Nordic region.  
These banks were pioneers in the establishment of a commercial banking industry

Sparekassen for Kjøbenhavn og Omegn
Denmark 1820

Wermlandsbanken  
Sweden 1832  

Christiania Kreditkasse  
Norway 1848  

Föreningsbanken i Finland / Suomen Yhdyspankki   
Finland 1862

2020

Celebrating 200 years of banking

In 2020 we celebrate our 200th anniversary of helping customers realise their dreams and aspirations. Nordea’s first predecessor bank, Sparekassen for Kjøbenhavn og Omegn, opened on 1 May, 1820.

Balloons

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Nordea signs UN’s Principles for Responsible Banking

On 22 September Nordea is one of 130 banks that sign the new Principles for Responsible Banking. By signing, the banks commit to taking on a crucial role in the work toward a sustainable economy and future.

The Principles are the result of a collaboration between about 30 banks and the United Nations Environment Programme Finance Initiative (UNEP FI), announced in 2018. Nordea was the only Nordic bank among founding banks.

Nordea signs UN’s Principles for Responsible Banking

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Frank Vang-Jensen new CEO

Frank Vang-Jensen is appointed new President and Group CEO of Nordea on 5 September, after Casper von Koskull had announced earlier in the summer that he would step down.

Nordea-CEO-Frank-Vang-Jensen

2019

Acquisition in Norway

The acquisition of Gjensidige Bank ASA is completed. The transaction underlines Nordea’s ambition to grow in the Norwegian market.

Oslo city in sunset

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Principles for Responsible Banking

In collaboration with the United Nations and 27 other banks from around the world, Nordea participates in the launch of the Principles for Responsible Banking at a UN round table summit in Paris. The principles aim to align the financial sector with the UN Sustainable Development Goals and the Paris Climate Agreement. Nordea is the only Nordic bank among the 28 participating banks.

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Member of the Banking Union

Nordea was re-domiciled to Finland on the 1 of October 2018. As a member of the banking union we are now subject to the same regulatory framework as our European peers. Our new group head office is located in the Vallila district of Finland’s capital Helsinki. Day-to-day operations carry on as usual in all countries. 

Helsinki skyline

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Re-domiciliation initiated

Nordea’s Board of Directors decides to initiate a re-domiciliation of the parent company from Sweden to Finland. Domiciling in a country that is in the banking union means we will be subject to the same regulatory framework as our European peers. There will be no changes in day-to-day operations, and we will continue to focus on delivering value to all our customers.

2018

Apple Pay and Google Pay

We started offering all our customers the option of paying contactless with Apple Pay in the summer of 2018. At the end of October we also started offering Google Pay, now catering to the needs of iPhone users and Android-based device users alike.

Contactless smartphone payment

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Entering the green bond market

We issue our first green bond, signifying our increased ambition level in sustainability

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IT innovation award

Nordea wins the 2017 Global Retail Banker “IT Innovation of the Year” award for our Simplification programme, part of our ongoing efforts to create a truly digital bank by coming together as One Nordea with common processes, products and systems

New savings app

Nordea Liv and Norwegian fintech start-up Spiff enter into a cooperation agreement to develop a social savings app – with just a few keystrokes, you can set aside money for a trip, your future dream home or your pension

2017

New legal structure

Cross‑border mergers between Nordea Bank AB (publ) and its subsidiary banks in Denmark, Finland and Norway take effect as we simplify our legal structure to better reflect the Nordic way in which we operate

2016

New digital unit

Nordea establishes a new Group Digital unit as part of our ambition to become a truly digital bank

2016

New leading Baltic bank

Nordea and DNB agree to combine their operations in Estonia, Latvia and Lithuania to create a leading bank in the Baltics with strong Nordic roots.

2015

Accelerator programme launched

We launch our first accelerator programme, whereby fintech start-ups get a chance to accelerate their ideas in cooperation with Nordea

Nordea venue at Slush 2021

2011

Recognition from international body

The Financial Stability Board, a regulatory unit within the G20 group, recognises Nordea as one of the most important banks for the global economy; we are the only Nordic bank to receive this recognition

2010

CEO appointed head of European Banking Federation

CEO Christian Clausen, representing Nordea and the Swedish Bankers' Association, is appointed President of the European Banking Federation

2007

Equator Principles

Nordea is the first Nordic bank to implement the Equator Principles, a benchmark for the financial industry to manage social and environmental issues in project management

Stryneelva river from above stryn norway

2004

Biggest internet bank, acquisition of Lithuanian bank

With four million customers using internet services, Nordea is the world’s biggest internet bank measured by payments

We acquire Kredyt Bank S.A. in Lithuania

Couple using laptop at table

2002

Acquisition of Polish bank

We agree to acquire LG Petro Bank in Poland

Warszawa Poland

Through mergers, 300 banks are reduced to 80 banks in the 1970s and to 30 banks in the 1980s. By the 1990s, there are only four major banks left. These four banks merge and all operations are conducted under the brand name of Nordea from 2001.
Nordic + ideas = Nordea
Nordea comes from putting together the words “Nordic” and “ideas”. The name signifies how we share and develop good Nordic ideas to create high-quality solutions based on common Nordic values such as openness, equality and caring for the environment.

2001

Nordea is created from the merger of these four Nordic banks

1990s

Heading east

During the 1990s we establish ourselves in countries east of the Baltic Sea. The first Estonian branch opens in Tallinn in 1995. In 1999 we acquire Bank Komunalny in Gdynia, Poland. The same year we become the only shareholder of a Latvian bank, and a year later we receive permission to start operations in Lithuania.

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1980s

Mobile banking – 1980s style

Mobile banking is in use in Finland already in 1986, allowing customers to pay their bills and access their accounts with their phones. The service, KotiSYP, is even designed to be used with the first mobile phones, as demonstrated in this video by a sailor out at sea and a lumberjack in a forest. It’s not surprising that the BBC wants to present the service as a future innovation in their Money Programme. A BBC journalist travels from London to test the service in the middle of the Baltic Sea. The service functions very well.

Old pcs

1964

Umbrella service

In 1964, Norwegian Christiania Bank og Kreditkasse starts an umbrella service at its head office with a sign that says “Borrow when rainy, return when sunny”. This becomes so popular that other branches soon start a similar service.

Girl with umbrella

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1960s

1950s

Bank buses: extra service for pregnant woman

In the 1950s, it is quite common for bank buses to provide services where there are no branches. Although these services are more limited compared to what a branch can offer, one bank bus goes out of its way to provide an extra service: giving a customer and his pregnant wife a ride to the hospital so she can give birth.

Bank bus

1940s

Banks serve as shelters

During the Second World War, the staff of Finnish Kansallis-Osake-Pankki’s Hamina branch use the basement of a demolished house as its temporary premises. Despite continuous air raids, customers are always served, no matter what happens. When an alarm sounds, ledgers, archives and money are taken to the boiler room, which also serves as a shelter for both staff and customers.

Finnish Kansallis-Osake-Pankki’s Hamina branch use the basement of a demolished house as its temporary premises

1925

Mysterious bank manager

When the branch of Kansallis-Osake-Pankki opens in Petsamo, Finland  in 1925,  the shortest journey to get mail from the headquarters in Helsinki takes 6 to 7 days. There is no vault, but the sporty, resourceful bank manager solves the problem by using a backpack. Customers often wonder why he always has the backpack with him wherever he goes.

branch of Kansallis-Osake-Pankki opens in Petsamo

1920s

Modern workplaces

After the First World War, as commercial trade flourishes and cash constantly changes hands, simpler and safer ways to transfer money are needed. Swedish Postgirot, which later becomes part of Nordea, is a pioneer when it launches payment services in 1925. This workplace is also considered one of the most modern in the Nordic countries with a dining room, sun terrace and a sickroom staffed by trained employees.

1911

First female branch manager

Esteri Heikinheimo becomes the first female branch manager of a Finnish commercial bank in 1911. In line with common practice in less populated areas, the branch is located in her home. In 1918 Swedish Wermlandsbanken opens a branch in a factory – and the bank manager spends half his time working for the company.

First female branch manager Esteri Heikinheimo behind her desk

1900s

Home visits

In the 1900s bank tellers make personal visits to customers’ homes to empty their savings boxes. The first Finnish money box is introduced in 1902. Savings boxes are also a success in Denmark, Sweden and Norway.

1800s

Liquor as security for loans

Norwegian Christiania Kreditkasse’s regulations specify that collateral used to secure loans must fit into the category “not easily perishable goods”. Soon after the bank opens its doors in 1848, people apply for loans hoping that everything from liquor, footwear, herring and cast-iron goods will qualify as security. The first loan application comes from merchant Evensen, who puts up 3,862 litres of vodka, 70 casks of herring and 6,215 pounds of vitriol as security. His loan is granted, but only the liquor is accepted as security. Shoemaker Isaachsen is less fortunate: his loan, with footwear as security, is rejected.

Bottle of liquor