Based in London, Coalition Greenwich is a ‘leading global provider of strategic benchmarking analytics and insights to the financial services industry’. As part of their work to analyse the performance of banks in trade finance related services, Coalition Greenwich conducts an annual survey of the largest corporates in Western Europe, allocating awards based on the results.
In a survey of 523 large corporates (103 in the Nordics, 54 in the UK and 366 in the rest of Europe), Nordea came out on top as the Quality Leader and Share Leader (highest market penetration) in the Nordic region. According to Coalition Greenwich, market penetration refers to the proportion of companies interviewed that consider each bank as one of their trade finance providers.
In excellent company
Of the 110 banks evaluated, Coalition Greenwich also identified the top ranked banks that received a series of ‘Excellent’ ratings from companies across Western Europe. Subsequently, Nordea received the 2021 Greenwich Excellence Awards for European Large Corporate Trade Finance in Western Europe for Frequency of Visits, Quality of Advice and Error-free Execution.
Erik Zingmark, Head of Transaction Banking at Nordea, says: “These awards are a great indicator that we have made some really important steps forward in our Trade Finance offering. To receive this recognition as a result of feedback from some of the largest corporates in Europe is a significant achievement. Not only are we ahead in quality and market penetration in the Nordics, we have received excellence awards in some of the areas we have been working really hard to optimise. Frequency of visits – being there for our customers digitally during a very challenging period, quality of advice – really helping them to make the right decisions to consolidate and grow their businesses and error-free execution – making sure we get our solutions and services over the line despite the obstacles. We can be proud that we stand out amongst Europe’s best banks in these areas.”