Nordea is the largest Nordic bank with strong positions within corporate banking, retail banking and private banking. Nordea has a number of diversifying activities in the Nordic countries (with market shares between 10-30% in the four Nordic countries) and in addition has some operation in Eastern Europe; the head quarter is located in Sweden. The bank has managed to keep its loan losses on a relative low level during 2008-2010; there is, however, a risk that Nordea will see larger losses in 2011, the outlook is very uncertain. The bank has expanded its operation both through organic growth and acquisitions and has in the process been taking market shares, primarily in Denmark. With a Solvency ratio of 12% and good prospects for acquisition, the banks aims at strengthening the offering on the Nordic market and grow market shares in Finland and Poland. Nordea’s offering enables product cross selling, but needs to strengthen its equity and corporate finance divisions. Nordea’s rapid credit growth and shipping exposures represents the main risks going forward.