Banking Brilliance Has Suffered a Serious Setback in the Nordics
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Nordic banks, once coveted as the best-run and best-capitalized in Europe, appear to be losing their luster.
After publishing first-quarter results, banks based in Sweden and Denmark are among the year’s worst performers in the Bloomberg index of European financial stocks. In fact, you need to have been an investor in Banca Monte dei Paschi di Siena SpA or Deutsche Bank AG to have lost more money since December.