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Awards for Excellence 2009: Finland

Best bank: Nordea
Best Investment bank:
Morgan Stanley

In its core market of Finland, Nordea has a roughly 30% market share of consumer lending and personal deposits and of mortgage lending. It has even higher shares of corporate business, with 36% of lending and 43% of corporate deposits. In Finland, Nordea is truly a giant among banks. However, Finland itself accounts for just 15% of the Nordea Group’s loans and 16% of profits.

Over recent years, Nordea has used its scale and diversification to increase volumes and drive down the cost-income ratio to the benefit of both shareholders and customers in its core markets.

Lending to corporate customers in Finland increased by 5% in the first quarter of 2009 on the first quarter of 2008. The payback to the bank was in higher margins, up by 25 basis points.

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