Editing Nordea (section)

==History==
Nordea's roots date to 1820 and [[Sparekassen for Kjøbenhavn og Omegn]] in Denmark, and a complete family tree of around 300 banks including some of the oldest banks in the Nordic region.<ref name=":1" /> This includes Wermlandsbanken of Sweden (founded 1832), Christiania Kreditkasse of Norway (founded 1848) and Union Bank of Finland (UBF) of Finland (founded 1862). Between 1997 and 2001, the [[Finland|Finnish]], [[Sweden|Swedish]], [[Denmark|Danish]], and [[Norway|Norwegian]] [[bank]]s of Merita Bank, Nordbanken, Unidanmark, and [[Christiania Bank|Christiania Bank og Kreditkasse]] merged into the present day Nordea.

Merita Group was formed in 1995, when UBF and [[Kansallis-Osake-Pankki]] (KOP) merged.<ref>{{Cite web|date=1995|title=Merita-konsernin vuosikertomus 1995|url=https://web.lib.aalto.fi/fi/old/yrityspalvelin/pdf/1995/fmerita.pdf|website=Aalto University Library}}</ref> UBF was established, in 1862, at a time when there were no Limited Liability Companies Act or banking laws in Finland.<ref name=":3">{{Cite web|title=Bank Museum|url=https://www.nordea.fi/en/personal/bank-museum.html#tab=Kansallis-Osake-Pankki|website=Nordea}}</ref> Therefore, it was modelled after banking standards in other countries. UBF eventually merged with rivals Nordiska Aktiebanken in 1919 and Helsingin Osakepankki (HOP) in 1986. KOP was originally founded in 1890 with its first branch at Aleksanterinkatu 17, in Helsinki.<ref name=":3" /> By 1913, KOP had become the second largest commercial bank in Finland. The two banks, KOP and UBF, competed for the title of the largest bank in Finland for decades.<ref name=":3" /> KOP suffered large credit losses as a result of the Finnish [[Finnish banking crisis of 1990s|banking crisis in the early 1990s]]. On 1 April 1995 it became a subsidiary (51%) of Merita Group in a direct share issue.

Nordbanken was formed in 1986 by a merger of two smaller private local banks, Uplandsbanken and Sundsvallsbanken, though it was the product of numerous original institutions.<ref name=":4">{{Cite book|title=International Directory of Company Histories|publisher=St. James Press|year=2001|isbn=155862886X}}</ref> The oldest of the original Nordbanken constituent banks was Wermlandsbanken, which was founded in 1832. Nordbanken came under Swedish government control in 1992, following the Swedish [[Sweden financial crisis 1990-1994|banking crisis in the early 1990s]],<ref name=":4" /> with the sale of its [[non-performing loan]]s to the Swedish government and significant reduction in personnel.<ref name=":5">{{Cite web|last=Jonung|first=Lars|date=2009|title=The Swedish model for resolving the banking crisis of 1991-93: Seven reasons why it was successful|url=https://ec.europa.eu/economy_finance/publications/pages/publication14098_en.pdf|website=European Commission}}</ref> Bad debts were transferred to the asset-management company Securum, which sold off the assets.<ref name=":5" /> At the time, the approach of establishing "good" and "bad" banks composed of corresponding assets was a novel resolution approach.

Merita Group merged with Nordbanken in 1997 forming MeritaNordbanken.<ref>{{Cite web|date=1997|title=Merita Group Annual Report 1997|url=https://web.lib.aalto.fi/fi/old/yrityspalvelin/pdf/1997/emerita.pdf|website=Aalto University Library}}</ref> The Solo internet-based banking operation of MeritaNordbanken was a global pioneer and leader providing mobile and internet banking access in 1999.<ref>{{Cite web|date=1999|title=MeritaNordbanken Group launches the world's first WAP banking services|url=https://mb.cision.com/wpyfs/00/00/00/00/00/00/90/2E/bit0002.pdf|website=Cision}}</ref> The bank reached 1 million internet banking customers during 1999 with 3 million log-ins and 3.7 million payments per month.<ref name=":6">{{Cite web|date=1999|title=MeritaNordbanken Group Annual Report 1999|url=https://www.nordea.com/Images/35-36865/1999-01-01_MeritaNordbanken-Annual-Report-1999_EN.pdf|website=Nordea}}</ref> Housing loans via Solo were introduced in 1999.<ref name=":6" /> MeritaNordbanken agreed to buy Unidanmark, Denmark's second-largest bank, in early 2000 creating the Nordic region's biggest financial institution with €186 billion in assets.<ref name=":7">{{Cite web|date=2000|title=Nordic bank giant created|url=https://money.cnn.com/2000/03/06/europe/bank_merger/|website=CNN Money}}</ref> The merged group had a banking market share of 20% in [[Sweden]], 25% in [[Denmark]] and 40% in [[Finland]] and a combined workforce of 28,050.<ref name=":7" /> By end 2000, MeritaNordbanken had further merged with [[Christiania Bank- og Kreditkasse|Christiania Bank og Kreditkasse]] of [[Norway]], a process started in 1999 and changed its name to Nordea.<ref name=":6" /> Christiania Bank had also been impacted severely during the banking crisis in the early 1990s, with Nordea acquiring the bank from the Norwegian Government Bank Investment Fund with a 35% share.<ref name=":4" /><ref>{{Cite web|date=2000|title=Nordea Group Annual Report 2000|url=https://web.lib.aalto.fi/fi/old/yrityspalvelin/pdf/2000/Enordea2000.pdf|website=Nordea}}</ref>

Nordea expanded into Poland, the Baltics and Russia in the early 2000s, with 2% of total revenues from the Poland and Baltics region.<ref>{{Cite web|date=2004|title=Nordea Annual Report 2004|url=https://www.nordea.com/Images/33-36857/2006-01-01_Annual-Report-2006-Nordea-Bank-AB_EN.pdf|website=Nordea}}</ref> Nordea divested its Polish banking operations in 2013, with the sale to [[PKO Bank Polski]] for €694 million but retains a presence in Poland via operations and IT units supporting the Nordic banks.<ref name=":10">{{Cite web|date=2014|title=Nordea Annual Report 2014|url=https://www.nordea.com/Images/33-36843/2014-01-01_Annual-Report-2014-Nordea-Bank-AB_EN.pdf|website=Nordea}}</ref><ref>{{Cite web|date=2013|title=Nordea divests its Polish banking, life and financing businesses to PKO Bank Polski|url=https://www.nordea.com/en/press-and-news/news-and-press-releases/press-releases/2013/2013-06-12-nordea-divests-its-polish-banking-life-and-financing-businesses-to-pko-bank-polski.html|website=Nordea}}</ref> By end 2014, lending in the Baltics was €8.2 billion and in Russia €4.5 billion.<ref name=":10" /> During the period 2013-2017 exposure to the Russian market was reduced by 63%.<ref>{{Cite web|date=2018|title=Nordea Annual Report 2018|url=https://www.nordea.com/Images/33-304448/Annual|website=Nordea}}</ref> In 2016, Luminor was formed by a merger of Nordea's and DNB's operations in Estonia, Latvia and Lithuania creating the third largest Baltic regional bank with assets of €15 billion and a market share of 16.4%.<ref>{{Cite web|date=2018|title=Nordea, DNB sell Baltic bank stake to Blackstone in $1.2 billion deal|url=https://www.reuters.com/article/us-blackstone-group-m-a-nordea-bank-dnb-idUSKCN1LT0KL|website=Reuters}}</ref><ref name=":11">{{Cite web|date=2019|title=Blackstone completes the acquisition of €1 billion majority stake in Luminor|url=https://www.blackstone.com/press-releases/article/blackstone-completes-the-acquisition-of-1-billion-majority-stake-in-luminor/|website=Blackstone}}</ref> Luminor was sold to Blackstone, with Nordea and DNB retaining each initially a 20% share.<ref name=":11" /> However, the full divestment was completed in 2019.<ref name=":2" /> Exit from the Russian, Baltic and Polish markets were part of Nordea's de-risking strategy, which also included reduced exposures to some sectors (e.g. Shipping, Oil & Offshore and Agriculture in Denmark).<ref>{{Cite web|date=2000|title=Debt Investor Presentation Q1 2020|url=https://www.nordea.com/Images/35-363903/Q120%20Debt%20Investor%20Presentation%20for%20web%20updated%20ratings.pdf|website=Nordea}}</ref> Nordea was one of the Nordic banks, including Danske Bank, SEB and Swedbank, allegedly involved in the money laundering scandal, involving ex-Soviet states, that emerged in 2017.<ref>{{Cite web|last=Charlie|first=Duxbury|date=2020|title=Scandinavia seeks to launder its dirty-money image|url=https://www.politico.eu/article/the-north-relaunders/|website=Politico}}</ref>

Nordea announced plans to move its corporate headquarters from Stockholm, Sweden to Helsinki, Finland in September 2017.<ref name=":12">{{Cite web|date=2020|title=Nordea's re-domiciliation of the parent company (2017-2018)|url=https://www.nordea.com/en/about-nordea/corporate-governance/legal-structure/nordea-redomiciliation/|website=Nordea}}</ref> The re-domiciliation of Nordea to Finland put it within the supervision of the European Central Bank and within the European Union's banking union.<ref name=":8" /><ref name=":12" /><ref>{{Cite web|date=2020|title=List of supervised entities|url=https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.listofsupervisedentities202011.en.pdf|website=European Central Bank}}</ref> In October 2018, Nordea completed the move of its corporate headquarters to Helsinki, Finland.<ref>{{Cite web|date=1 October 2018|title=Nordea's re-domiciliation is completed|url=https://www.nordea.com/en/press-and-news/news-and-press-releases/press-releases/2018/10-01-07h30-nordeas-re-domiciliation-is-completed.html|access-date=2019-07-28|website=www.nordea.com}}</ref> 
{| class="wikitable sortable mw-collapsible"
|+Historical performance, ratios and key figures for Nordea 1999-2023
!Year
!Share Price ('''€, year-end''')
!Total Assets (€ billion)
!Return on Equity (%)
!Tier 1 Capital Ratio (%)
!Common Equity Tier 1 capital ratio (%), excluding Basel 1 floor
|-
|1999
|5.84
|186
|18.0
|9.0
|
|-
|2000
|8.10
|224
|16.1
|6.8
|
|-
|2001
|5.97
|242
|13.8
|7.3
|
|-
|2002
|4.20
|250
|7.5
|7.1
|
|-
|2003
|5.95
|262
|12.3
|7.3
|
|-
|2004
|7.43
|276
|15.7
|7.3
|
|-
|2005
|8.79
|326
|18.0
|6.8
|
|-
|2006
|11.67
|347
|22.9
|7.1
|
|-
|2007
|11.42
|389
|19.7
|7.0
|7.5
|-
|2008
|5.00
|474
|15.3
|7.4
|8.5
|-
|2009
|7.10
|508
|11.3
|10.2
|10.3
|-
|2010
|8.16
|580
|11.5
|9.8
|10.3
|-
|2011
|5.98
|716
|11.1
|10.1
|11.2
|-
|2012
|7.24
|677
|11.6
|11.2
|13.1
|-
|2013
|9.78
|630
|11.0
|
|14.9
|-
|2014
|9.68
|669
|11.5
|
|15.7
|-
|2015
|10.15
|647
|12.2
|
|16.5
|-
|2016
|10.60
|616
|12.3
|
|18.4
|-
|2017
|10.09
|582
|9.5
|
|19.5
|-
|2018
|7.27
|551
|9.7
|
|15.5
|-
|2019
|7.24
|555
|5.0
|
|16.4
|-
|2020
|6.67
|552
|7.1
|
|17.1
|-
|2021
|10.79
|570
|11.2
|
|17.1
|-
|2022
|10.03
|595
|11.8
|
|16.4
|-
|2023
|11.23
|585
|16.9
|
|17.0
|-
|2024
|10.50
|623
|16.7
|
|15.8
|}