Pursuits
Top-Ranked Banks Slip to Bottom as Scandinavian Haven Splinters
- Credit Suisse says investors now more selective as risk grows
- High valuations proving a deterrent despite capital strength
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The haven play just isn’t what it used to be for Nordic banks.
Cushioned with capital and relatively unburdened by non-performing loans, Scandinavia’s big six -- Nordea Bank AB, Danske Bank A/S, DNB ASA, Svenska Handelsbanken AB, SEB AB and Swedbank AB -- outperformed European peers in the years following the financial crisis. Now, with valuations hovering at highs, the banks risk falling out of favor.