Nordea

Last updated
Nordea Bank Abp
Native name
Nordea Bank Abp
FormerlyMerita Bank, Unibank, Nordbanken, Kreditkassen
Company type Public limited company (Publikt Aktiebolag)
ISIN FI4000297767  OOjs UI icon edit-ltr-progressive.svg
Industry financial services
financial sector  OOjs UI icon edit-ltr-progressive.svg
Founded1820 as Sparekassen for Kjøbenhavn og Omegn
Founder Hans Dalborg [1]
Headquarters Helsinki, Finland [2]
Key people
ProductsCorporate and retail banking, asset management
Revenue11,743,000,000 Euro (2023)  OOjs UI icon edit-ltr-progressive.svg
6,334,000,000 Euro (2023)  OOjs UI icon edit-ltr-progressive.svg
4,934,000,000 Euro (2023)  OOjs UI icon edit-ltr-progressive.svg
AUM 378,500,000,000 Euro (2023)  OOjs UI icon edit-ltr-progressive.svg
Total assets 584,702,000,000 Euro (2023)  OOjs UI icon edit-ltr-progressive.svg
Total equity 31,225,000,000 Euro (2023)  OOjs UI icon edit-ltr-progressive.svg
Number of employees
29,153 (2023)  OOjs UI icon edit-ltr-progressive.svg
Capital ratio 17.0%
RatingAA (Fitch Ratings)
Website www.nordea.com
Nordea old logo (2000-2016) Nordea old logo.svg
Nordea old logo (2000–2016)

Nordea Bank Abp, [5] [6] commonly referred to as Nordea, is a Nordic [7] [8] financial services group operating in northern Europe with headquarters in Helsinki, Finland. [9] The name is a blend of the words "Nordic" and "idea". [10] The bank is the result of the successive mergers and acquisitions of the Finnish, Swedish, Danish, and Norwegian banks of Merita Bank, Nordbanken, Unidanmark, and Christiania Bank og Kreditkasse that took place between 1997 and 2001. [10] The Nordic countries are considered Nordea's home market, having finalised the sales of their Polish bank in 2014, Baltic operations in 2019 [11] and completed the exit from Russia in early 2022 following a 2019 decision to close the business there. [12] Nordea is listed on Nasdaq Nordic exchanges in Helsinki, Copenhagen, and Stockholm and Nordea ADR is listed in the US. [11]

Contents

Nordea serves 9.3 million private and 530,000 active corporate customers, including 2,650 large corporates and institutions. [11] Nordea's credit portfolio is distributed across Finland (21%), Denmark (26%), Norway (21%), and Sweden (30%). [11] There are four Business Areas (BAs) at Nordea, Personal Banking, Business Banking, Large Corporates & Institutions, and Asset & Wealth Management. Assets under Management (AUM) were €411 billion in December 2021. [13]

Nordea has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, first as the Finnish arm of the Stockholm-based group and since 2017 as a financial holding company. As a consequence, it is directly supervised by the European Central Bank. [14] [15]

The company has been embroiled in numerous scandals involving moneylaundering and tax evasion. In 2024, Danish authorities indicted the bank for the most extensive violation by a bank of Denmark’s anti-money laundering act in the country's history. [16]

History

Nordea's roots date to 1820 and Sparekassen for Kjøbenhavn og Omegn in Denmark, and a complete family tree of around 300 banks including some of the oldest banks in the Nordic region. [10] This includes Wermlandsbanken of Sweden (founded 1832), Christiania Kreditkasse of Norway (founded 1848) and Union Bank of Finland (UBF) of Finland (founded 1862). Between 1997 and 2001, the Finnish, Swedish, Danish, and Norwegian banks of Merita Bank, Nordbanken, Unidanmark, and Christiania Bank og Kreditkasse merged into the present day Nordea.

Merita Group was formed in 1995, when UBF and Kansallis-Osake-Pankki (KOP) merged. [17] UBF was established, in 1862, at a time when there were no Limited Liability Companies Act or banking laws in Finland. [18] Therefore, it was modelled after banking standards in other countries. UBF eventually merged with rivals Nordiska Aktiebanken in 1919 and Helsingin Osakepankki (HOP) in 1986. KOP was originally founded in 1890 with its first branch at Aleksanterinkatu 17, in Helsinki. [18] By 1913, KOP had become the second largest commercial bank in Finland. The two banks, KOP and UBF, competed for the title of the largest bank in Finland for decades. [18] KOP suffered large credit losses as a result of the Finnish banking crisis in the early 1990s. On 1 April 1995 it became a subsidiary (51%) of Merita Group in a direct share issue.

Nordbanken was formed in 1986 by a merger of two smaller private local banks, Uplandsbanken and Sundsvallsbanken, though it was the product of numerous original institutions. [19] The oldest of the original Nordbanken constituent banks was Wermlandsbanken, which was founded in 1832. Nordbanken came under Swedish government control in 1992, following the Swedish banking crisis in the early 1990s, [19] with the sale of its non-performing loans to the Swedish government and significant reduction in personnel. [20] Bad debts were transferred to the asset-management company Securum, which sold off the assets. [20] At the time, the approach of establishing "good" and "bad" banks composed of corresponding assets was a novel resolution approach.

Merita Group merged with Nordbanken in 1997 forming MeritaNordbanken. [21] The Solo internet-based banking operation of MeritaNordbanken was a global pioneer and leader providing mobile and internet banking access in 1999. [22] The bank reached 1 million internet banking customers during 1999 with 3 million log-ins and 3.7 million payments per month. [23] Housing loans via Solo were introduced in 1999. [23] MeritaNordbanken agreed to buy Unidanmark, Denmark's second-largest bank, in early 2000 creating the Nordic region's biggest financial institution with €186 billion in assets. [24] The merged group had a banking market share of 20% in Sweden, 25% in Denmark and 40% in Finland and a combined workforce of 28,050. [24] By end 2000, MeritaNordbanken had further merged with Christiania Bank og Kreditkasse of Norway, a process started in 1999 and changed its name to Nordea. [23] Christiania Bank had also been impacted severely during the banking crisis in the early 1990s, with Nordea acquiring the bank from the Norwegian Government Bank Investment Fund with a 35% share. [19] [25]

Nordea expanded into Poland, the Baltics and Russia in the early 2000s, with 2% of total revenues from the Poland and Baltics region. [26] Nordea divested its Polish banking operations in 2013, with the sale to PKO Bank Polski for €694 million but retains a presence in Poland via operations and IT units supporting the Nordic banks. [27] [28] By end 2014, lending in the Baltics was €8.2 billion and in Russia €4.5 billion. [27] During the period 2013-2017 exposure to the Russian market was reduced by 63%. [29] In 2016, Luminor was formed by a merger of Nordea's and DNB's operations in Estonia, Latvia and Lithuania creating the third largest Baltic regional bank with assets of €15 billion and a market share of 16.4%. [30] [31] Luminor was sold to Blackstone, with Nordea and DNB retaining each initially a 20% share. [31] However, the full divestment was completed in 2019. [11] Exit from the Russian, Baltic and Polish markets were part of Nordea's de-risking strategy, which also included reduced exposures to some sectors (e.g. Shipping, Oil & Offshore and Agriculture in Denmark). [32] Nordea was one of the Nordic banks, including Danske Bank, SEB and Swedbank, allegedly involved in the money laundering scandal, involving ex-Soviet states, that emerged in 2017. [33]

Nordea announced plans to move its corporate headquarters from Stockholm, Sweden to Helsinki, Finland in September 2017. [34] The re-domiciliation of Nordea to Finland put it within the supervision of the European Central Bank and within the European Union's banking union. [9] [34] [35] In October 2018, Nordea completed the move of its corporate headquarters to Helsinki, Finland. [36]

Historical performance, ratios and key figures for Nordea 1999-2023
YearShare Price (€, year-end)Total Assets (€ billion)Return on Equity (%)Tier 1 Capital Ratio (%)Common Equity Tier 1 capital ratio (%), excluding Basel 1 floor
19995.8418618.09.0
20008.1022416.16.8
20015.9724213.87.3
20024.202507.57.1
20035.9526212.37.3
20047.4327615.77.3
20058.7932618.06.8
200611.6734722.97.1
200711.4238919.77.07.5
20085.0047415.37.48.5
20097.1050811.310.210.3
20108.1658011.59.810.3
20115.9871611.110.111.2
20127.2467711.611.213.1
20139.7863011.014.9
20149.6866911.515.7
201510.1564712.216.5
201610.6061612.318.4
201710.095829.519.5
20187.275519.715.5
20197.245555.016.4
20206.675527.117.1
202110.7957011.217.1
202210.0359511.816.4
202311.2358516.917.0

Performance and ownership

Nordea’s market capitalisation was €39.6 billion at the end of 2023, making it the fifth largest company in the Nordic region and among the ten largest European financial services groups. [37] Between 2000 – when Nordea was formed by the merger of MeritaNordbanken and Unidanmark – and 2023, the share price of Nordea appreciated by 177%, outperforming the STOXX Europe 600 Banks Index (-50%). [38]

At the end of 2023, Nordea had more than 590,000 shareholders. Nordea’s 10 largest shareholders were: [39]

  1. BlackRock, 5.1%
  2. Cevian Capital, 4.5%
  3. Norges Bank, 4.4%
  4. Nordea-fonden, 4.4%
  5. The Vanguard Group, 3.7%
  6. Swedbank Robur Funds, 2.5%
  7. Alecta Tjänstepension, 2.2%
  8. Fidelity_Investments, 1.5%
  9. Nordea Funds, 1.4%
  10. Varma Mutual Pension Insurance Company, 1.1%

Business areas

There are four Business Areas (BAs) at Nordea, Personal Banking, Business Banking, Large Corporates & Institutions, and Asset & Wealth Management.

Scandals

Nordea was the subject of an online phishing scam in 2007. The company estimated 8 million kr ($1.1 million) was stolen. [40] Customers were targeted over a period of 15 months with phishing emails containing a trojan horse. [41] Nordea refunded affected customers. [40]

The largest financial group in the Nordic region, Nordea was, despite warnings from the Swedish Financial Supervisory Authority (FI) active in using offshore companies in tax havens according to the Panama papers. [42] Other Swedish banks were mentioned in the documents, but mention of Nordea occurred 10,902 times and the second-most mentioned bank has 764 matches. [43] In 2012, Nordea asked Mossack Fonseca to change documents retroactively so that three Danish customers power of attorney documents had been in force since 2010. [42] Nordea bank loaned billions of euros to shipping companies that own vessels in secrecy jurisdictions such as Bermuda, Cyprus, Panama, BVI, the Cayman Islands and the Isle of Man. In the Paradise Papers, Nordea was shown to have lent a significant amount of money to customers based in tax havens. [44] As a consequence of the leaked documents, the Swedish Financial Supervisory Authority (FI) stated on 4 April 2016 that it had started an investigation into the conduct of Nordea.

The Nordea section in Luxembourg, between the years 2004 and 2014, founded nearly 400 offshore companies in Panama and the British Virgin Islands for its customers. [42] The Swedish Financial Supervisory Authority (FI) pointed out that there are "serious deficiencies" in how Nordea monitors money laundering, and gave the bank two warnings. In 2015, Nordea paid the largest possible fine - over 5 million EUR. [42] Stefan Löfven, Prime Minister of Sweden, said in 2016 that he was very critical of the conduct of Nordea and its role, and said: "They are on the list of shame too". [45] The Swedish minister of Finance Magdalena Andersson characterized the conduct of Nordea as "a crime" and "totally unacceptable". [46] [47] The director for Nordea Private banking Thorben Sanders admits that before 2009 they did not screen for customers that tried to evade tax. "At the end of 2009 we decided that our bank should not be a means of tax evasion" says Thorben Sanders. [42] Nordea CEO Casper von Koskull stated that he was disappointed with the shortcomings within Nordea's operating principles, saying that "this cannot be tolerated". [48]

In 2013, Politiken, a Danish newspaper, revealed that Nordea's Copenhagen branch was instrumental in establishing approximately 100 offshore companies for Russian and other nationals, despite warnings about suspicious activities. In 2024, the Danish authorities indicted Nordea for violating anti-money laundering laws by allowing $3.7 billion of suspicious transactions by the Russian clients. According to the Danish authorities, it was most extensive moneylaundering ever committed by a financial company in the country. [16]

In March 2019, public service broadcasting company, Yle, aired a program that revealed money laundering allegations against Nordea. [49] The company was the biggest Nordic lender allegedly involved in the multi-million-dollar money laundering scheme, according to Bloomberg. [50]

In July 2024, Nordea Bank was taken to court in Denmark over allegations of failing to prevent money laundering linked to Russian clients. The charges stem from transactions worth €3.8 billion, where Nordea is accused of neglecting proper oversight and ignoring red flags. Despite setting aside €95 million for potential fines, the actual penalty could be significantly higher, possibly approaching $1 billion. [51] [52]

In August 2024, Nordea agreed to pay $35 million to settle a money-laundering investigation by the New York State Department of Financial Services, linked to the Panama Papers scandal. The probe revealed the bank's failure to prevent illegal activities, including inadequate screening of clients from 2008 to 2019. [53]

Subsidiaries

Nordea's Swedish HQ in Stockholm, Sweden. Nordea stockholm building (24856762545).jpg
Nordea's Swedish HQ in Stockholm, Sweden.
Nordea's office in Mariehamn, Aland Nordea, Mariehamn, 2019 (01).jpg
Nordea's office in Mariehamn, Åland

See also

Nordic headquarters

Related Research Articles

<span class="mw-page-title-main">SEB Group</span> Swedish financial group for corporate customers

Skandinaviska Enskilda Banken AB, abbreviated SEB, is a Swedish bank headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, Germany, and the United Kingdom, the bank's operations are focused on corporate and investment banking services to corporate and institutional clients. The bank was founded in 1972 by the Swedish Wallenberg family, which is still SEB's largest shareholder through major investment company Investor AB. SEB is the largest Swedish bank by both market capitalisation and total assets.

Sampo is a leading Northern European P&C insurance group with operations in the Nordics, Baltics, and the UK.

<span class="mw-page-title-main">Swedbank</span> Swedish banking group

Swedbank AB is a Nordic-Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. Swedbank has a leading presence in Estonia and has a strong presence in Latvia and Lithuania.

<span class="mw-page-title-main">Handelsbanken</span> Swedish bank

Svenska Handelsbanken AB is a Swedish bank providing banking services including traditional corporate transactions, investment banking and trading as well as consumer banking including insurance. Handelsbanken is one of the major banks in Sweden with a nationwide branch network.

<span class="mw-page-title-main">Danske Bank</span> Bank headquartered in Denmark

Danske Bank A/S is a Danish multinational banking and financial services corporation. Headquartered in Copenhagen, it is the largest bank in Denmark and a major retail bank in the northern European region with over 5 million retail customers. Danske Bank was number 454 on the Fortune Global 500 list for 2011. The largest shareholder with 21% of the share capital is A.P. Moller Holding, the investment holding company of the Maersk family.

TD Bank, N.A. is an American national bank and the United States subsidiary of the multinational TD Bank Group. It operates primarily across the East Coast, in 15 U.S. states and Washington, D.C. TD Bank is the seventh-largest U.S. bank by deposits and the 10th largest bank in the United States by total assets, resulting from a series of several mergers and acquisitions. TD Bank, N.A. is headquartered in Cherry Hill, New Jersey, an inner suburb eight miles outside Philadelphia. TD Bank is a federally chartered bank, thus its trading name bears "N.A." letters.

<span class="mw-page-title-main">DNB ASA</span> Financial services group

DNB ASA is Norway's largest financial services group, with total combined assets of more than NOK 1.9 trillion and a market capitalisation NOK 164 billion as of 20 May 2016. DNB's head office is located in Oslo.

<span class="mw-page-title-main">Tietoevry</span> Finnish IT software and service company

Tietoevry Corporation is a Finnish IT software and service company providing IT and product engineering services. Tietoevry is domiciled in Espoo, Finland, and the company's shares are listed on the NASDAQ OMX Helsinki, NASDAQ OMX Stockholm and Oslo Stock Exchange. Tietoevry has approximately 24,000 employees across 20 countries, and has customers in the energy, forestry, banking, healthcare and public sectors.

Christiania Bank og Kreditkasse, branded domestically as Kreditkassen or K-Bank and internationally as Christiania Bank+ was a Norwegian bank that existed between 1848 and 2000 when it merged with MeritaNordbanken and became Nordea. The bank had its headquarters in Oslo and was Norway's second largest bank at the time of the merger.

<span class="mw-page-title-main">Storebrand</span> Norwegian financial services company

Storebrand is a financial services company in Norway. By volume, the company's main activities are related to life insurance and pension savings. However, the company also has major divisions working on investments, banking and, until 1999 and again since 2006, P&C insurance products. Through its acquisition of Swedish SPP from Handelsbanken in 2007, Storebrand gained a sizable division dedicated to the Swedish market for life insurance.

<span class="mw-page-title-main">Hans Dalborg</span> Swedish business executive

Hans Folkeson Dalborg was a Swedish business executive, who was chairman of the board of Nordea from 2002 to 2011.

Kansallis-Osake-Pankki (KOP) was a Finnish commercial bank operating from 1889 to 1995. It was created by the fennoman movement as a Finnish language alternative to the largely Swedish language bank, Suomen Yhdyspankki. The two banks were merged in 1995 to form the Merita Bank. Merita Bank was later merged with Swedish Nordbanken to form Nordea.

The Finnish Banking Crisis of 1990s was a deep systemic crisis of the entire Finnish financial sector that took place mainly in the years 1991–1993, after several years of debt-based economic boom in the late 1980s. Its total taxpayer cost was roughly 8% of the Finnish GNP, making it the most severe of the contemporary Nordic banking crises. The crisis has been attributed to a combination of macro-economic turbulence, weak regulation, and bank-specific problems. Governmental intervention included bank takeovers, direct monetary assistance and temporary blanket guarantees to the banks.

Maizels, Westerberg & Co. was a leading independent investment banking firm, specialising in major corporate finance transactions in the Nordic countries. The major focus of the firm was owner-driven transactions, restructurings, mergers, acquisitions and divestitures.

The early 1990s depression in Finland was one of the worst economic crises in Finland's history, by some considered even worse there than the 1930s Great Depression.

<span class="mw-page-title-main">Nordea Bank Norge</span>

Nordea Bank Norge is the Norwegian branch of Nordea Bank Abp, the Norwegian retail part of the Nordea financial group. The Norwegian headquarters is in Essendrops gate 7, Oslo.

<span class="mw-page-title-main">National Workers' Savings Bank</span> Finnish bank

National Workers' Savings Bank (1971-1989) or STS-Bank (1989-1992) was a Finnish savings bank and commercial bank. Workers' savings banks were syndicalist, social democratic corporations intended to compete with privately owned banks, which could deny credit to workers on political grounds. Created in 1971 through a merger of five local workers' savings banks, the oldest component of STS was the Helsinki branch, founded in 1909. The Turku workers' savings bank was the only one to choose to stay independent. With the merger, STS became the largest savings bank in Finland. The bank went almost bankrupt in 1992 and was sold at a loss to KOP, with the government taking care of much of the bad debt.

<span class="mw-page-title-main">Danske Bank money laundering scandal</span> 2017-2018 money laundering scandal

The Danske Bank money laundering scandal arose in 2017-2018, when it became known that around €800 billion of suspicious transactions had flowed from Estonian, Russian, Latvian and other sources through the Estonia-based bank branch of Denmark-based Danske Bank from 2007 to 2015. It has been described as possibly the largest money laundering scandal ever in Europe, and as possibly the largest in world history. It includes incoming funds from Estonia (23%), Russia (23%), Latvia (12%), Cyprus (9%), UK (4%) and others. Outgoing funds were distributed between Estonia (15%), Latvia (14%), China (7%), Switzerland (6%), Turkey (6%) and others (52%)

PK Banken or Post & Kreditbanken, "the Post and Credit Bank", was a Swedish bank formed through the merger of Kreditbanken and the nationally owned Postbanken in 1974. After the purchase of several regional banks, which included "Nordbanken", the entire bank took on that name. Nordbanken merged with the Finnish bank Merita in 1998 to form Merita-Nordbanken. Merita-Nordbanken merged in 2000 with the Danish Unibank to become Nordic Baltic Holding before acquiring the Norwegian Kreditkassen, and subsequently adopting the new Nordea brand in 2001.

References

  1. ↑ "Nordeas tidigare styrelseordförande Hans Dalborg är död". Nordea (in Swedish). Retrieved 2023-07-06.
  2. ↑ "A Mega Bank Just Joined the Euro Zone; It's Too Big to Fail". Bloomberg.com. 1 October 2018. Retrieved 1 October 2018.
  3. ↑ "Nordea Corporate Governance". www.nordea.com. Nordea. Retrieved 13 August 2024.
  4. ↑ Styrelsens ledamöter Nordea.com. Retrieved 2020-10-22
  5. ↑ "Nordea Bank Abp". Business Information System. Retrieved 6 June 2019.
  6. ↑ "Supplement to prospectus on merger between Nordea Bank AB (publ) and Nordea Bank Abp". Nordea.com. Retrieved 12 September 2018.
  7. ↑ "Who we are". Nordea. Retrieved 2023-04-15.
  8. ↑ "Nordea buys Norway's Frende occupational pension portfolio". Reuters. 2020-07-06. Retrieved 2023-04-15.
  9. 1 2 "Nordea's re-domiciliation is completed". www.nordea.com. 2018-10-01. Retrieved 2018-10-01.
  10. 1 2 3 "Our History". Nordea.
  11. 1 2 3 4 5 "Nordea Annual Report 2019" (PDF). Nordea Group Annual Reports.
  12. ↑ "Solid performance in turbulent times". Nordea. Retrieved 2024-01-13.
  13. ↑ "Nordea annual Report 2021" (PDF). Nordea.com. Retrieved 28 March 2022.
  14. ↑ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
  15. ↑ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
  16. 1 2 "Ten years after an ICIJ exposé, Danish authorities charge Nordea bank with money laundering violations". ICIJ. 2024-07-08.
  17. ↑ "Merita-konsernin vuosikertomus 1995" (PDF). Aalto University Library. 1995.
  18. 1 2 3 "Bank Museum". Nordea.
  19. 1 2 3 International Directory of Company Histories. St. James Press. 2001. ISBN   155862886X.
  20. 1 2 Jonung, Lars (2009). "The Swedish model for resolving the banking crisis of 1991-93: Seven reasons why it was successful" (PDF). European Commission.
  21. ↑ "Merita Group Annual Report 1997" (PDF). Aalto University Library. 1997.
  22. ↑ "MeritaNordbanken Group launches the world's first WAP banking services" (PDF). Cision. 1999.
  23. 1 2 3 "MeritaNordbanken Group Annual Report 1999" (PDF). Nordea. 1999.
  24. 1 2 "Nordic bank giant created". CNN Money. 2000.
  25. ↑ "Nordea Group Annual Report 2000" (PDF). Nordea. 2000.
  26. ↑ "Nordea Annual Report 2004" (PDF). Nordea. 2004.
  27. 1 2 "Nordea Annual Report 2014" (PDF). Nordea. 2014.
  28. ↑ "Nordea divests its Polish banking, life and financing businesses to PKO Bank Polski". Nordea. 2013.
  29. ↑ "Nordea Annual Report 2018". Nordea. 2018.
  30. ↑ "Nordea, DNB sell Baltic bank stake to Blackstone in $1.2 billion deal". Reuters. 2018.
  31. 1 2 "Blackstone completes the acquisition of €1 billion majority stake in Luminor". Blackstone. 2019.
  32. ↑ "Debt Investor Presentation Q1 2020" (PDF). Nordea. 2000.
  33. ↑ Charlie, Duxbury (2020). "Scandinavia seeks to launder its dirty-money image". Politico.
  34. 1 2 "Nordea's re-domiciliation of the parent company (2017-2018)". Nordea. 2020.
  35. ↑ "List of supervised entities" (PDF). European Central Bank. 2020.
  36. ↑ "Nordea's re-domiciliation is completed". www.nordea.com. 1 October 2018. Retrieved 2019-07-28.
  37. ↑ "Nordea Annual Report 2023" (PDF). www.nordea.com. Retrieved 21 August 2024.
  38. ↑ "Nordea Annual Report 2023" (PDF). www.nordea.com. Retrieved 21 August 2024.
  39. ↑ "Nordea Annual Report 2023" (PDF). www.nordea.com. Retrieved 21 August 2024.
  40. 1 2 "Swedish bank hit by 'biggest ever' online heist - CNET News". archive.is. 2012-06-29. Archived from the original on 2012-06-29. Retrieved 2019-09-19.
  41. ↑ "Bank loses $1.1m to online fraud". 2007-01-19. Retrieved 2019-09-19.
  42. 1 2 3 4 5 "Nordea grundade hundratals skatteparadisbolag åt kunder". Svenska Yle. Retrieved 4 April 2016.
  43. ↑ Frida Svensson. "Detta behöver du veta om Panamaläckan". Svd.se. Retrieved 28 December 2017.
  44. ↑ "The International Consortium of Investigative Journalists - Paradise Papers" (PDF).
  45. ↑ "Löfven: Nordea på skämslistan". Gp.se. Archived from the original on 5 April 2016. Retrieved 28 December 2017.
  46. ↑ "Nordea bank investigated over tax haven scandal". The Local (Sweden). Retrieved 4 April 2016. Reacting to Nordea's role in the scandal, Sweden's Finance Minister Magdalena Andersson told Swedish reporters: "It is a crime — tax evasion — it is totally unacceptable". Sweden's financial supervisory authority, Finansinspektionen, has said that it will launch an investigation into Nordea's overseas activities.
  47. ↑ "Monday's papers". YLE. 4 April 2016. Retrieved 4 April 2016.
  48. ↑ Teivainen, Aleksi. "Nordea failed to implement operating principles, finds internal inquiry". Helsinkitimes.fi. Retrieved 28 December 2017.
  49. ↑ "Nordea handled about $790 million in suspicious transactions: Finnish TV". Reuters. 2019-03-04. Retrieved 2019-09-20.
  50. ↑ Pohjanpalo, Kati; Hoikkala, Hanna. "Nordea Sinks as Investors Fear More Money Laundering Allegations". www.bloomberg.com. Retrieved 2019-09-20.
  51. ↑ "Denmark charges Nordea over 2012-15 money laundering cases". Reuters . 2024-07-05. Retrieved 2024-10-18.
  52. ↑ "Nordea Risks $1 Billion Money Laundering Fine, Experts Say". Bloomberg . 2024-07-11. Retrieved 2024-10-18.
  53. ↑ Molina Acosta, Carmen (2024-08-30). "Nordea to pay $35 million to end Panama Papers-linked money laundering probe". ICIJ . Retrieved 2024-10-18.
  54. ↑ "ЦБ аннулировал лицензию Нордеа Банка" (in Russian). banki.ru. 2021-04-16.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.