"Nordea does not deal with money laundering"

After three years in a row with declining revenues is going Nordea with a fourth. In the first nine months of the year, revenues were 5% lower than in the same period of the previous year.

Nordea chairman Björn Wahlroos has some reason to believe that his earnings growth is similar to him. It emphasizes, among other things, that most of the year 's income loss is due to the bank' s trading activities in Copenhagen.

It also highlights the efforts made in recent years to strengthen the bank's regulatory compliance and IT investments.

"Of course, this has led our front line, that is, our offices and other vendors have been forced to take on purely administrative tasks," he said.

When does the board expect an improvement in the revenue trend?
"Our net financial data have not declined in the last quarter."

But are you 5% lower than last year's income for the first nine months?
"Yes, but it's happening in an environment where interest rates are extremely low, for all banks, I know, but you should also note that we sold a lot of it," Björn said. Wahlroos, highlighting Nordea's operations in Russia and the Baltic.

Nordea is, with Danske Bank, the largest bank with the lowest ratings in the Nordic countries. What do you think is the reason for Nordea's relatively low valuation?
"There are several explanations for this, and taking the two most important points is partly because we have made huge investments," says Björn Wahlroos.

"Banks that invest a lot are rarely subject to the highest valuation and rarely have the best performance because it is expensive," he says.

In addition, Björn Wahlroos points to Danske Bank's significant money laundering force, as Nordea has shown on the outskirts of.

"We have suffered, unreasonably, to be on the brink of this Danish bank, but I think I will be corrected in the market."

Björn Wahlroos also said that Nordea "did not deal with money laundering", but on a question concerning the crime reports that fund company Hermitage Capital, along with founder Bill Browder, was filed against Nordea, it responds a little to the fact that the allegations were made.

"I read his book (Bill Browders, Di's note) and I thought it was great, because basically he does not know what to do. remember that its main objective, and I say this with great respect, is of course to create a situation in which Russia is isolated as much as possible. "

If you want that Russia is completely isolated is the right agenda, he strikes.

"I think we should also have a little respect for those people in Russia who engage in legal activities."