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| Regional Awards for Excellence 2013: Nordics and Baltics | |
| Nordic and Baltic winners by country Denmark Estonia Finland Iceland Latvia Lithuania Norway Sweden |
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Best Bank: Nordea |
| The Danish economy and banking sector are not in great shape. The country is in a recession and might struggle to emerge from it this year. In June, Danske Bank announced a rights issue and small lender Amagerbanken collapsed – the 11th Danish bank to do so since the 2008 financial crisis. So looking for a strong and well-capitalized bank that has performed well in Denmark in the past year has been tricky, but one bank that is both well capitalized and profitable, despite rising loan losses, is Nordea. In 2012 Nordea reported total operating income from its Danish retail banking business of €1.51 billion – up slightly on 2011 and the second-highest contributor of revenues after Sweden. Its profitability was hit by rising loan losses of €443 million, but the bank still managed to report operating profits of €226 million, up from €201 million in 2011. | |