The Banker's Top 30 Nordic Banks 2022

The Banker’s 2022 Top 30 Nordic Banks ranking shows results from lenders in a region that continues to display solid fundamentals. Burhan Khadbai reports.

The economies of all five of the Nordic countries expanded in 2021, after a year of contraction as a result of the coronavirus pandemic. Sweden saw the biggest growth in its gross domestic product in 2021 at 4%, with Denmark (3.8%), Finland (3%), Iceland (3.7%) and Norway (3%) also reporting robust growth last year, according to data from Statista. The region’s return to solid growth is also reflected in the performance of its lenders with almost all banks reporting an increase in their pre-tax profits in The Banker’s 2022 Top 30 Nordic Banks ranking.

In the overall ranking by Tier 1 capital, which is based on end-2021 results, Finland’s Nordea Group remains way out in front with a Tier 1 capital position of $32.97bn. Meanwhile, Denmark’s Danske Bank and Norway’s DNB Group have maintained their second and third spots, with Tier 1 capital positions of $26.2bn and $23.18bn, respectively.

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