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. The group's capitalization is merely satisfactory given its 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 Danmark A/S. With assets of €439.8 billion ($549.7 billion at €1 to $1.25) as at Sept. 30, 2008, Nordea is the largest banking group in the Nordic region. Its strong franchise in Sweden, Finland, Denmark, and Norway provides a solid platform...
Companies mentioned in this report are:
- Nordea Bank AB
- Nordea Bank Norge ASA
- Nordea Bank Finland PLC
- Nordea Bank Danmark A/S
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