Nordea Bank AB Oct 07

Standard & Poors, October 2007

Abstract
Leading universal banking franchise across the Nordic region Substantial geographic and business diversification of revenues Conservative, well group-integrated enterprise risk management Sensitivity to low interest rates and modest growth in Nordic home markets Relatively weak market positions in Sweden and Norway Only satisfactory capitalization The ratings on Nordea group's (Nordea) banking operations in the Nordic region reflect the group's consistent and sensible strategy that has resulted in successful integration; its solid earnings from core banking operations; substantial diversification of revenues and risk; and strong asset quality and satisfactory capitalization given the current risk profile. Nordea's banking operations in the Nordic region comprise Sweden-based Nordea Bank AB, Finland-based Nordea Bank Finland PLC, Norway-based Nordea Bank Norge ASA, and Denmark-based Nordea Bank...

Companies mentioned in this report are:
- Nordea Bank AB
- Nordea Bank Norge ASA
- Nordea Bank Finland PLC
- Nordea Bank Danmark A/S
- Nordea Hypotek AB
- Nordea Kredit Realkredit A/S

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

- Nordea Bank AB
- Nordea Bank Norge ASA
- Nordea Bank Finland PLC
- Nordea Bank Danmark A/S
- Nordea Hypotek AB
- Nordea Kredit Realkredit A/S

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