Nordea Bank

History

2021: Revocation of the license of the Central Bank

By order of April 16, 2021, the Central Bank canceled the license for banking operations from Nordea Bank JSC.

2020

Bank closure in Russia

On December 17, 2020, Nordea Group announced the closure of the bank in Russia. She explained this decision by the desire to focus on the Scandinavian market.

According to the bank's website, the liquidation of the bank in Russia became part of the work on the partial closure of the Nordea international network. In addition to Russia , Nordea closes banks in Singapore and Frankfurt.

Nordea Bank will ensure that all obligations to customers are fulfilled and provide comfortable conditions for closing customer accounts. In the process of liquidation, the bank will strictly comply with all the requirements of Russian law, the website of the financial institution said.

Finnish bank Nordea leaves Russia

After the meeting of shareholders, where they decide to close the bank in Russia, Nordea Bank will send a statement to the Central Bank on the revocation of the license.  The liquidation of the credit institution will last during 2021 ,  Mikhail Polyakov, chairman of the bank's board, told Kommersant. According to him, the bank will conduct voluntary self-liquidation, it is not planned to sell it.

The group's strategy is to maintain business in critical regions, for example, in the United States  - due to dollar funding, or China, where there are no Scandinavian banks except Nordea, "he explained.

Most of the bank's funding is external, not local, funds that the parent group provided, says Anton Lopatin, director of the Fitch [[Fitch Group}Fitch|Group} Fitch]] financial organizations analytical group. According to the results of ten months of 2020, Nordea Bank had a sufficient liquidity of  13.5 billion rubles, Fitch data show. It should cover the departure of the balance of client funding (about  5  billion rubles).

At the end of the third quarter of 2020, Nordea Bank was in 95th place in terms of assets (53.2  billion rubles) in the Interfax rating. ^[1]

Curtailment of services for Scandinavian customers

Nordea Scandinavian Bank in 2020 will reduce the number of services offered to customers from Northern Europe in Russia. This was reported to TASS by the director of external communications of the concern Aphrodity Kellberg.

"In recent years, we have worked hard to create a strong and sustainable Scandinavian supply of [services] in Russia. However, after a thorough analysis of the services that we offer, it was decided to change the strategic direction and begin to curtail those offered to Scandinavian customers working in Russia. We are in dialogue with those affected and are working to find new solutions. It is important to emphasize that we will continue to work in Russia. The decision concerns only the beginning of the winding up of services offered to Scandinavian customers present in Russia, "she said.

2019: Banking Russia branch revenues only 63 million euros

The revenues of the Banking Russia branch in 2019 amounted to 63 million euros, which is a slight value compared to the bank's total indicators of 8,635 billion.

2010: The bank is one of the top 30 in Russia in terms of assets and capital

Nordea Bank JSC is part of Nordea Banking Group, one of the largest European banking groups headquartered in Helsinki.

Nordea Bank is one of the 30 largest banks in Russia in terms of assets and capital. The bank has the highest rating on the Russian market of the international rating agency Fitch Ratings and is named the most reliable bank in Russia in the Rating compiled by Forbes magazine.

The Bank's clients include more than 3,000 companies and more than 40,000 individuals. As of April 1, 2010, the Bank's capital amounted to 26.72 billion rubles, assets - 141.53 billion rubles (in accordance with IFRS). The Bank's customer service network consists of 52 sales outlets in the format of a universal branch, mini-office or operating cash desk in 15 regions of the Russian Federation. 100% of the Bank's shares are controlled by Nordea Bank AB.

1994: Orgrasbank founded

AB "ORGRESBANK" was founded in 1994.