| Headline: Regional - Nordic/Baltic region Source: Euromoney Date: July 2001 Author: Jonathan Brown Best bank: Svenska Handelsbanken Best debt house: ABN AMRO Best equity house: Enskilda Securities Best M&A house: Enskilda Securities Best at risk management and treasury: Nordea Best at transaction services: Nordea Two themes dominate banking in the Nordic and Baltic region – cross-border expansion and technological innovation. Over the past decade, the leading players in the Nordic countries have sought to expand their operations throughout the region, as illustrated by a series of cross-border acquisitions by such banks as Nordea, Svenska Handelsbanken and SEB. With the Nordic regional banking sector now dominated by these three, attention has turned to the Baltic states as the emerging battleground. Swedbank now has a majority holding in Estonia’s Hansa Bank, Skandinavska Enskilda Banken (SEB) increased its stake in Lithuania’s Vilniaus Banka to almost 98% in late 2000, and Merita (Nordea) and Handelsbanken have ventured into the Estonian banking sector. These banks have been renowned for their use of internet technology to fight the battle for new customers and increased revenue. It is hardly surprising that the Nordic banks have set the pace in applying new technology to banking, given the region’s well-known facility in this area. |