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
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%.