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Awards for excellence - Nordic & Baltic region

BEST BANK
Nordea

BEST DEBT HOUSE
Deutsche Bank

BEST EQUITY HOUSE
ABN Amro / ABN Amro Rothschild

BEST M&A HOUSE
Citigroup

BEST AT CASH MANAGEMENT
SEB

BEST AT RISK MANAGEMENT
Deutsche Bank

BEST AT INVESTOR SERVICES
SEB

BEST SMALLER BANK, BALTICS
Suprema Securities

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The impressive performance of Nordea during 2004 is primarily attributable to its focus on cost control. During the year, total income increased by just 1% – although there was an 8% pick-up in the fourth quarter – but profit increased by 28% and earnings per share hit an all-time high of €0.69 compared with €0.51 in 2003. The bank has also been focused on creating value for its shareholders in other ways and in October 2004 completed a buyback of about 5% of its outstanding shares.

Figures from the first quarter of this year suggest that all units of the bank are working well. Mortgage lending to personal customers increased 15% year on year, lending to small and medium-size corporates rose 14%, assets under management went up 11% to €36 billion and written premiums in life insurance increased by 23%.

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