Guided by CEO, Christian Clausen, Nordea has navigated rough waters in recent years. Through a tough passage, the bank has built strength, and developed a clear vision, one that keeps the needs of the customer firmly in focus…

Nordea has experienced testing times. Initially it was the turmoil following the Lehman Brothers’ collapse in 2008, and more recently the challenges arising from the sovereign debt situation in Europe. Throughout the voyage, the focus has always remained on the bank’s customers.

Nordea is the largest financial services group in northern Europe with a market capitalisation of about 25bn euro, total assets of 671bn euro and a core tier 1 capital ratio of 11.0 per cent.

The bank has the largest customer base of all financial services groups in the Nordic countries with about 11 million customers, primarily in the Nordic countries Sweden, Norway, Denmark and Finland, but also a significant number in Poland, the Baltics and Russia. Nordea’s vision is to be a great European bank, acknowledged for its staff, creating superior value for customers and shareholders. Their position as market leader in the Nordics was recently confirmed when Nordea was defined as the only globally systemic important bank in their part of Europe.

In the wake of the Lehman Brothers crisis, European regulators have taken initiatives to strengthen the financial system and make sure that banks are better prepared to absorb fluctuations in the economy and even handle a crisis like the one we saw in 2008 without having to be saved by governments. This implies stricter requirements for capital, funding and liquidity.

Nordea has taken early steps to adapt to the situation they refer to as “the new normal” and prepare the bank for possible future challenges. “The proposed new regulations come on top of the turbulent situation we now see with uncertainty about the sovereign debt situation in southern Europe. To meet the regulatory challenges, we have initiated one of the most ambitious ‘new normal’ plans for any bank in the world. We have continued to attract new customers and strengthen our relations in all segments – from households to the largest companies in the region,” says Nordea CEO, Christian Clausen.

The required restructuring has been both tough and demanding, but in retrospect has proved to be the right thing to do. While several European banks are fighting to survive, Nordea has managed to secure a strong and leading position for the future. Today Nordea is one of three AA-rated banks in Europe.

“One of our challenges in 2012 will be to continue our ambitious ‘new normal’ plans, and at the same time be transparent. By being open on what we do and why we do it, we believe our customers will understand that the measures we take are instrumental in ensuring that Nordea remains a professional and responsible bank. We must generate the capital necessary to grow our lending volumes and be easy to deal with and safe, also in the years to come,” continues Clausen.

Important values
Nordea’s operations are based on three important values. The first? It’s all about people. People are the bank’s most important resource, and what makes a difference in the dialogue with the customers. The second value the bank lives by? To work together as one Nordea team. “Together we create value, and it is of utmost importance to be able to pull together in the same direction,” says Clausen. Which is essential as the bank has more than 32,000 employees across several countries.

And the third – and most important value? To create great customer experiences. “When I meet employees, I always say that everything we do, is to create positive customer experiences. Our focus must be on the customer, and on developing sound and long-term customer relationships,” adds Clausen.

Customer care
Nordea aims to be a “relationship bank”. An increasing number of customers prefer to carry out their banking business electronically. The bank’s priority is developing and offering streamline solutions for all its customers, and strive to achieve symbiosis between the bank’s physical offices and the electronic world in order to reach all its customers while still maintaining a close relationship with its customers.

Nordea aims to be in the forefront of technology, both with regard to IT and mobile bank solutions. The bank is determined to become a leading mobile bank. More than 300,000 customers in the Nordic countries are already active mobile bank users, and the ambition is to increase this figure substantially during 2012.

Nordea has nine home markets: The Nordic markets of Denmark, Finland, Norway and Sweden, and the new European markets of Estonia, Latvia, Lithuania, Poland and Russia. The bank aims to further strengthen its position in these markets in the future.

Contact details
For further information please visit: www.nordea.com