Competitor Profile: Nordea Private Banking 2024

This report provides a comprehensive analysis of Nordea's private banking and wealth management operations. It offers insights into the company’s strategy and financial performance, including key data on assets under management. Customer targeting, service proposition, product innovation, and marketing activities are also covered.

Nordea Group is one of the leading financial services companies in the Nordics, with a presence in 20 countries. It operates through four main business divisions: Personal Banking; Business Banking; Asset and Wealth Management (AWM); and Large Corporates and Institutions. Its corporate headquarters are in Helsinki, Finland. Nordea Private Banking is one of the leading wealth management firms in the Nordics, with a strong presence across its home markets Finland, Sweden, Denmark, and Norway. It serves HNW and UHNW individuals, families, entrepreneurs, and foundations.

Scope

• Despite adverse market conditions, Nordea Private Banking reported 8% growth in AUM in 2023-driven by strong customer activity and acquisition. The business acquired 3,800 new clients in 2023.
• To strengthen its presence in the Nordics, in November 2024, Nordea acquired the Norwegian personal customer and private banking business of Danske Bank. The deal was originally announced in July 2023.
• Environmental, social, and governance (ESG) issues remain a key focus area for the group. By the end of 2023, nearly 69% of the group’s total AUM were held in ESG products. The bank has pledged to facilitate over EUR200 billion ($216.3 billion) in sustainable financing between 2022 and 2025. By the end of 2023, it had achieved EUR135 billion ($146 billion) of this target. This includes social and other sustainability bonds, as well as sustainability-linked and green loans.

Reasons to Buy

• Examine Nordea's financial performance, key ratios, and assets under management growth.
• Benchmark the company against other global wealth managers.
• Understand its current strategic objectives and their impact on its financial performance.
• Discover its key products and client targeting strategies.
• Learn more about its marketing strategy, social media presence, and digital innovations.