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Largest bank in the Nordic region, offering retail, corporate and wealth banking across Finland, Sweden, Norway and Denmark.
Largest bank in the Nordic region, offering retail, corporate and wealth banking across Finland, Sweden, Norway and Denmark.
Earns mostly from the lending spread across Sweden, Finland, Norway and Denmark, with fees from savings, asset management and corporate services. It moved its legal home from Sweden to Finland in 2018 to sit under the euro-area banking supervisor.
In one line: A pan-Nordic universal bank, larger than any single-country Nordic peer..
Moat: narrow (scale, distribution, brand). Largest pan-Nordic banking franchise, giving scale advantages no single-country Nordic bank can match.
Headquarters: Helsinki, Finland · Employees: 28,989
Size Nordea Bank Abp (NDA-FI.HE) is a Finland Financials company (Major Banks) with a market value of $62.3B, the largest of 65 Finland companies the cockpit tracks. Shares closed at €16.36 on 6 Nov 2026.
Performance Over six months the shares gained 5.8%, against +8.7% for the median peer and -2.9% for the Finland market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 3.4% over the last twelve months (peer median 0.0%); the operating margin is 34.7% (peer median 39.0%).
Valuation It trades at 1.77× book value against a peer median of 1.69× (9th most expensive of 21).
Price implies The share price implies a return on equity of about 14.6%; Nordea Bank Abp delivers 14.9%, so the price asks less than the business earns today.
Credit Nordea Bank Abp has 33 bonds outstanding ($28.1B), rated AA- by the agencies and trading like A+ at a weighted spread of 81 bp.
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €27.4B | €25.5B | €29.4B | €27.5B | €15.8B |
| Revenue growth | — | -13% | +7% | +74% | — |
| Net income | €4.67B | €4.81B | €5.03B | €4.91B | €3.56B |
| Free cash flow | €26.0B | €10.2B | €20.1B | €7.69B | -€2.31B |
| Capital expenditure | €548M | €656M | €560M | €530M | €405M |
| Total debt | €255B | €257B | €235B | €223B | €225B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Nordea Bank Abp NDA-FI.HE | $62.3B | +6% | +3% | 15% | 1.77× | 14.6% |
| Danske Bank A/S DANSKE.CO | $42.4B | +11% | +8% | 14% | 1.68× | 6.1% |
| Skandinaviska Enskilda Banken SEB-A.ST | $42.9B | +20% | -8% | 14% | 1.80× | 9.5% |
| Svenska Handelsbanken SHB-A.ST | $32.6B | +23% | -14% | 12% | 1.68× | 9.0% |
| DNB Bank DNB.OL | $50.0B | +16% | -8% | 15% | 1.76× | 11.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NDA-FI.HE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.9% | +1.0% | 7th lowest of 21 |
| 6-month return | +5.8% | +8.7% | 10th lowest of 21 |
| Return on equity | 14.9% | 13.2% | 4th highest of 21 |
| Price / book | 1.77× | 1.69× | 9th most expensive of 21 |
| Trailing P/E | 11.9× | 12.4× | 8th cheapest of 21 |
| ROE the price implies | 14.6% | 13.2% | 9th most demanding of 21 |
| ROE delivered | 14.9% | 13.5% | 4th highest of 20 |
| Bond spread | 81 bp | 79 bp | 6th widest of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Nordea Bank Abp NDA-FI.HE | Finland | $62.3B | +6% | +3% | 15% | 1.77× | 14.6% | 14.9% |
| NatWest NWG.L | United Kingdom | $62.3B | +4% | +3% | 16% | 1.21× | 15.8% | 15.9% |
| Standard Chartered STAN.L | United Kingdom | $60.9B | +14% | -10% | 13% | 1.37× | 16.9% | 12.8% |
| National Bank of Canada NA.TO | Canada | $59.3B | +4% | +8% | 14% | 2.62× | 20.1% | 14.3% |
| Boc Hong Kong 2388.HK | Hong Kong | $67.4B | +13% | -8% | 12% | 1.47× | 8.1% | 11.8% |
| China CITIC Bank 601998.SS | China | $71.5B | +9% | -6% | 9% | 0.67× | 2.5% | n/a |
| Lloyds Banking LLOY.L | United Kingdom | $73.7B | +2% | -2% | 14% | 1.37× | 17.2% | 14.3% |
| Societe Generale GLE.PA | France | $52.0B | -5% | +9% | 9% | 0.78× | 10.0% | 9.5% |
| Kotak Mahindra Bank KOTAKBANK.NS | India | $50.5B | +27% | +12% | 12% | 2.45× | 29.5% | 11.8% |
| DNB Bank DNB.OL | Norway | $50.0B | +16% | -8% | 15% | 1.76× | 11.2% | 15.1% |
| United Overseas Bank U11.SI | Singapore | $47.6B | 0% | -10% | 10% | 1.23× | 9.2% | 9.8% |
| ANZ ANZ.AX | Australia | $84.2B | +17% | -5% | 8% | 1.71× | 14.4% | 8.3% |
| Swedbank SWED-A.ST | Sweden | $46.0B | +25% | -5% | 14% | 2.09× | 13.2% | 14.3% |
| Itau Unibanco Holding S.A. Sponsored ADR Pfd ITUB | United States | $84.9B | -12% | +8% | 22% | 1.84× | 11.8% | 21.7% |
| National Australia Bank NAB.AX | Australia | $86.2B | +9% | -8% | 10% | 2.02× | 20.2% | 10.0% |
| Westpac Banking WBC.AX | Australia | $87.6B | +4% | +2% | 9% | 1.78× | 16.4% | 9.5% |
| Axis Bank AXISBANK.NS | India | $43.6B | +2% | +7% | 14% | 1.78× | 25.1% | 13.9% |
| PNC Financial Services PNC | United States | $89.4B | +4% | +8% | 13% | 1.59× | 13.2% | 12.9% |
| ING Groep INGA.AS | Netherlands | $89.8B | +11% | +7% | 14% | 1.63× | 12.5% | 13.6% |
| Skandinaviska Enskilda Banken SEB-A.ST | Sweden | $42.9B | +20% | -8% | 14% | 1.80× | 9.5% | 13.5% |
| Danske Bank A/S DANSKE.CO | Denmark | $42.4B | +11% | +8% | 14% | 1.68× | 6.1% | 14.1% |
Nordea Bank Abp has 33 bonds outstanding with $28.1B face value. The agencies rate it AA-; its bonds trade like A+. Weighted yield 3.96%, a spread of 81 bp over government bonds.