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2008
forging ahead!
a n n u a l r e p o r t
2
Highlights
Nordea becomes the owner of a 100 per cent stake in JSB Orgresbank
By its assets, the Bank now ranks among ТОР-30 Russian banks according to the list published by the CB RF
Nordea Bank has decided to increase the equity capital of JSC Orgresbank
JSB Orgresbank is now listed among 50 credit institutions that the Central Bank empowered to issue guarantees to secure other banks’ loans with the CB
In December 2008 Nordea signed an agreement on acquisition of the remaining 17.70 per cent of JSB Orgresbank from the two management shareholders and the European Bank for Reconstruction and Development. The deal with the top managers was closed in Q1 2009. The EBRD’s share has been bought out on May 6, 2009.
The Bank’s equity capital increase took place in Q1 2009 through an additional rights issue of 3.8 bRUB.
JSB Orgresbankpart o f Nordea
2008The Bank has earned a weighty status on the market of servicing the large and the largest backbone companies
The Bank has expanded its regional branch network by 2 times
The financials of JSB Orgresbank suggest steady growth
Throughout this year, the Bank has been systematically implementing its strategy aimed at the segment of large and the largest borrowers. In 2008 it launched cooperation with Lukoil OJSC, Rosneft Oil Company OJSC, Novatek OJSC, Svyazinvest OJSC, MRSK Holding OJSC and others.
2008 saw the opening of 7 branches and 7 multi-format offices in Saint-Petersburg, Samara, Penza, Novosibirsk, Stariy Oskol, Belgorod, Voronezh, Lipetsk, Yaroslavl, Chelyabinsk, Yekaterinburg, Rostov-on-Don, Volgograd and Archangelsk.
Thus making the total number of universal outlets, mini-offices and cash desks more than 50 with presence in 15 regions of the Russian Federation.
par t o f Nordea
annual report 2008
4
Equity (Capital)
*upon the completion of the registration
*
JSB Orgresbankpart o f Nordea
Assets of the Bank
par t o f Nordea
annual report 2008
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Credit portfolio(including loans to banks)
JSB Orgresbankpart o f Nordea
Net profit
par t o f Nordea
annual report 2008
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Credit portfolio structure, %
JSB Orgresbankpart o f Nordea
Retail credit portfolio structure, %
Consumer loans
Mortgage
Car loans
par t o f Nordea
annual report 2008
Nordea Group is the largest financial institution of Northern Europe, which was founded through consolidation of the oldest Nordic banks: Merita Bank (Finland), Nordbanken (Sweden), Unibank (Denmark) and Christiania Bank og Kreditkasse (Norway).
Once such consolidation of these companies into single Group was completed, from 2001 onwards it started operating under the brand name of Nordea which stems from the combination of two words, “Nordic” and “Idea” – so a bank of Nordic ideas came into being.
Today Nordea provides a wide range of products, services and solutions on banking, asset management and insurance.
Nordea has almost 10 million customers and more than 1400 outlets and branches.
Nordea’s shares are listed in Copenhagen, Helsinki and Stockholm Stock Exchanges. Its major shareholders are: Swedish Government (19.9%), Sampo Group (15.3%) and Nordea Danmark fonden (4.1%).
The Group’s assets are worth 474 bEUR and the operating profit based on 2008 was 3.338 bEUR.
About the Group
12
Moscow
Russia
The biggest country in the world.
The great Russian poet, as well as the reformer of Russian literary language is А.S. Pushkin.
Classics of the Russian literature are N. V. Gogol, F. М. Dostoevsky, L. N. Tolstoy.
The most famous icon painter is Andrey Rublev, outstanding artists of the XIX century are K.P. Bryullov, I.К. Aivazovsky, I. Е. Repin, the XX century – V.V. Kandinsky, К.S. Malevich.
Acknowledged classics of world music culture are P. I. Chaikovsky, М. I. Glinka, S. V. Rakhmaninov, D. D. Shostakovich.
The most well-known national souvenir is matryoshka.
In 2006 Nordea signed an agreement on the acquisition of a 75.01% stake in JSB Orgresbank. The Group has been gradually increasing its stake ever since up to 100 per cent. Nordea is represented in Russia exclusively by JBS Orgresbank.
Nordea
JSB Orgresbankpart o f Nordea
55°45′06′N 37°37′04′EMoscow
par t o f Nordea
annual report 2008
14
Stockholm
Sweden
country outline
let’s speak Swedish
Nordea
The most outstanding scientist is Carl Linné, doctor and natural scientist, creator of the unified system of plant and animal life.
The most well known prize is Nobel Prize, established in 1895, for the greatest contribution for the benefit of mankind in the field of chemistry, physics, medicine, literature and in the cause of peace promotion.
The most famous juvenile author is Astrid Anna Emilia Lindgren, the most favourite character is best Karlson in the world, a man in his productive prime.
The most famous director is Ernst Ingmar Bergman, author of “Wild Strawberries”, the most famous actresses are Greta Garbo and Ingrid Bergman.
The most popular musical band is ABBA.
The history of Nordea Sweden dates back to 1832, the year of foundation of Wermlandsbanken. 150 years later, following numerous name changes and mergers, Nordbanken came into being and was destined to become part of Nordea.
full speed – full fartright course – rätt riktningconfidence – förtroendelighthouse – fyrenlight – ljus
JSB Orgresbankpart o f Nordea
59°21′N 18°04′EStockholm
par t o f Nordea
annual report 2008
16
Oslo
Norway
country outline
let’s speak norwegian
NordeaThe forerunner of Nordea Norway was Christiania Kreditkasse bank estab-lished in 1848. In December 2000, being the country’s largest bank and then going by the name of Christiania Bank og Kreditkasse became part of Nordea Group.
full speed – full fart fremoverright course – riktig retningconfidence – tillitlighthouse – fyrlight – lys
The most famous Norwegian composer is Edvard Grieg, author of musical play “Peer Gynt”.
The most famous artist and expressionist is Edvard Munch, who painted “The Scream”.
The most famous Norwegian polar traveler and researcher is Roald Amundsen, the first man, who reached the South Pole.
The most famous traveler and scientist and anthropologist is Thor Heyerdahl.
The most outstanding Norwegian playwright is Henrik Ibsen, founder of new European drama, author of world-known plays “Peer Gynt”, “A Doll’s House”, “Hedda Gabler”.
Main characters of Norwegian fairy tales are mountain trolls and lower mythological creatures - tussers: elves, dwarves, nisses, uldres.
JSB Orgresbankpart o f Nordea
59°56′58′N 10°45′23′EOslo
par t o f Nordea
annual report 2008
18
Copenhagen
Denmark
country outlineThe biggest island in the world is Greenland, a part of Denmark.
The most famous Danish scientist is Niels Bohr, one of the founders of modern Physics, creator of the Atom theory.
The most famous Danish Philosopher and writer is Søren Kierkegaard.
The most famous fairy tale writer is Hans Christian Andersen.
World known symbol of the country is the statue of the Little Mermaid in the port of Copenhagen.
One of the most outstanding directors is Lars von Trier, founder of the trend “Dogme 95”, author of the famous film “Dancer in the Dark”.
NordeaDanish Nordea goes back to 1820, the year of foundation of Sparekassen for Kjøbenhavn og Omegn, the forerunner of Unibank established 170 years later. In 2001 Unibank became part of Nordea.
let’s speak danishfull speed – fuld fart fremadright course – rigtige retningconfidence – tillidlighthouse – fyrlight – lys
JSB Orgresbankpart o f Nordea
55°40′34′N 12°34′06′ECopenhagen
par t o f Nordea
annual report 2008
20
Helsinki
Finland
country outline The most famous national heritage is Epos of Kaleval, compiled by Elias Lönnrot in the 20s of the previous century.
The most famous Finnish writer is Tove Jansson; the most famous characters are moomins.
The most famous Finnish composer is Jean Sibelius.
The most famous architects are Alvar Aalto and Eric Bäckman, founder of functionalism in Finnish architecture.
The most unusual Finnish musical band is Apocalyptica, which performs metal with cellos, the most popular Finnish rock band is Rasmus.
NordeaNordea Finland traces its history back to 1862, the year of foundation of Suomen Yhdyspankki, which in 1995 became Merita Bank following the merger with another financial institution. Merita Bank was one of the four credit organizations Nordea Group creation was based on.
let’s speak finnishfull speed – täyttä vauhtia eteenpäinright course – oikeaan suuntaanconfidence – luottamuslighthouse – majakkalight – valo
JSB Orgresbankpart o f Nordea
60°10′15′N 024°56′15′EHelsinki
par t o f Nordea
annual report 2008
22
Warsaw
Poland
country outlineThe greatest poet of the Romantic epoch and fighter for national independence is Adam Mickiewicz.
The most famous writer is Henryk Sienkiewicz, the most famous composer and musician is Fryderyk Chopin (Szopen).
The first Pope of Slavic origin and one of the youngest pontiffs in history is the Polish Pope, John Paul II.
The most famous director is Krzysztof Kieślowski, author of famous cyclus “Three Colors”.
The most famous Polish poet and aphorist is Stanislaw Jerzy Lec.
NordeaNordea in Poland is based on the banking operations in Nordea Bank Polska, Nordea Finance and the life insurance operations with a total customer base of 900 000.
let’s speak polishfull speed – pełnej prędkości do przoduright course – właściwym kierunkuconfidence – zaufanielighthouse – latarnilight – lekki
JSB Orgresbankpart o f Nordea
52°13′48′N 21°00′39′EWarsaw
par t o f Nordea
annual report 2008
24
Riga
Latvia
country outlineThe most famous Latvian poet is Jānis Rainis.
The most famous architectural structure, symbol of Riga is Riga Cathedral.
The main sight of the cathedral is organ of 3 floors height, at the moment of construction it was the largest in the world.
The quaintest monument is monument of a chimney sweeper and bricklayer on the territory of the old Riga.
The most famous drink is Riga Black Balsam out of 24 ingredients with unique healing properties and wonderful flavor.
NordeaFinnish Merita Bank, which was destined to become part of Nordea, entered the Latvian market in 1997. Today Nordea Bank (Latvian Branch) is the only branch of a foreign bank present in the country.
let’s speak latvianfull speed – pilnā sparā uz priekšu right course – virzienāconfidence – uzticībalighthouse – bākalight – gaisma
JSB Orgresbankpart o f Nordea
56°58′N 24°8′ERiga
par t o f Nordea
annual report 2008
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Vilnius
Lithuania
country outlineThe most legendary fighter for freedom of Lithuanian people, founder of Vilnius is Grand Lithuanian Duke Gedimin, ancestor of the Gediminas dynasty.
The first book in the Lithuanian language is Catechism, which contains first Lithuanian ABC-book as well.
The oldest Lithuanian work by Lithuanian literature is poem “Seasons” Kristijonas Donelaitis (published in 1818).
The capital of Lithuania is Vilnius, famous for its historical Old City, which is one of the biggest in Europe, listed as UNESCO World Cultural Heritage.
The most famous Lithuanian composer and artist is Mikalojus Konstantinas Čiurlionis.
NordeaNordea Group entered the Lithuanian market in 2000. Nordea Bank Lietuva is now one of the most rapidly growing banks in Lithuania.
let’s speak lithuanianfull speed – visu greičiu pirmynright course – teisinga linkmeconfidence – pasitikėjimaslighthouse – švyturyslight – šviesa
JSB Orgresbankpart o f Nordea
54°41′N 25°17′EVilnius
par t o f Nordea
annual report 2008
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Tallin
Estonia
country outlineThe main national heroic epos is Kalevipoeg, written in runic rhyme, which is a peculiarity of antique Estonian folk songs.
One of the most famous palaces and park assemblies is Ekaterintal’ (Kadriorg).
The oldest educational institution is University of Tartu, which became well known by virtue of the activity of Yu. M. Lotman and his School of Tartu of philology, culturology and semiotics.
The most famous Estonian sculptor is Amandus Adamson, one of the founders of Estonian national art.
The most famous Estonian composer is Arvo Pärt, pioneer of “bells style”.
NordeaNordea Bank Eesti is a branch of Nordea Bank Finland. In 1995, the first office of Nordea Bank (formerly known as Merita Bank) was opened in Tallinn.
let’s speak estonianfull speed – täiskäik edasiright course – õiges suunasconfidence – usalduslighthouse – majakaslight – valgus
JSB Orgresbankpart o f Nordea
59°26′N 24°45′ETallin
par t o f Nordea
annual report 2008
Bank offices Address Metro station Phone
“Centralniy” (Central) 3-ya ulitsa Yamskogo Polya, 19, Building 1, Moscow, 125040
“Belorusskaya” (495) 777-34-77
“Smolensky” Smolenskaya naberezhnaya, 5/13 Moscow, 121099
Smolenskaya (495) 777-34-77(499) 795-11-20
“Zamoskvoretsky” Kadashevskaya naberezhnaya, 6/1/2/1 Moscow, 119017
Tretyakovskaya (495) 786-76-39
“Yugo-Zapadny” ulitsa Namyotkina, 14/1 Moscow, 117420
Novye Cheryomushki, Kaluzhskaya, Kakhovskaya
(495) 967-12-06
“Preobrazhensky” ulitsa Krasnobogatyrskaya, 44/1 Moscow, 107076
Preobrazhenskaya (495) 223-31-33
“Sukharevsky” 1-y Koptel’sky pereulok, 4/1 Moscow, 129090
Sukharevskaya (495) 777-34-77
“Serpukhovsky” Stremyanny pereulok, 38 Mos-cow, 113093
Serpukhovskaya (495) 745-60-77
“Park Kul'tury” Korobeynikov pereulok, 1/2 Moscow, 119034
Park Kul'tury (495) 662-13-12
“Butyrsky Val, 52 Mortgage Center”
Butyrsky Val, 52 Moscow, 127055
Belorusskaya, Savy-olovskaya, Novoslobod-skaya
(495) 662-11-55
“Yamskoye Pole” ulitsa Pravdy, 4 Moscow, 125040
Belorusskaya (495) 777-34-77
“Kotelnichesky” Kotelnicheskaya emb., 1/15, korpus “B” Moscow, 109240
Taganskaya, Marksist-skaya
(495) 723-75-35
Saint Petersburg
Penza
Stary Oskol Volgograd
Arkhangel’sk
Saratov
Samara
Novosibirsk
Chelyabinsk
Ekaterinburg
Rostov-on-Don
“Sankt-Peterburgsky”ulitsa Promyshlennaya, 19 St. Petersburg, 198099(812) 747-34-30
“Primorsky”Torfyanaya Doroga, 7, 2N-11N, letter А St. Petersburg, 197374(812) 441-21-96
“Tavrichesky”ulitsa Kirochnaya, 12 St. Petersburg, 191028(812) 635-70-85,(812) 635-70-86
“Penzensky”ulitsa Suvorova, 144 B, Penza, 440008 (8412) 26-00-53
“Zarechensky”ulitsa Stroiteley, 5 A, Zarechny, Penza Region, 442965 (8412) 61-67-30
“Arbekovsky”prospekt Stroiteley, 67 Penza, 440066(8412) 40-96-42
“Starooskolsky”mikrorayon Korolyova, 28a, Stary Oskol, Belgorod Region, 309502(4725) 42-00-05
“Belgorodsky”ulitsa Preobrazhenskaya, 163, Belgorod, 308015(4722) 22-37-03,(4722) 22-33-90
“Voronezhsky”ulitsa Nikitinskaya, 6a, Voronezh 394036(4732) 35-53-84
“Lipetsky”ulitsa Sovetskaya, 77, Lipetsk 398001(4742) 23-00-65
“Yaroslavsky”ulitsa Respublikanskaya, 7, Yaroslavl’ 150003(4852) 58-58-98
“Volgogradsky”prospekt Lenina, 46, Volgograd 400005(8442) 24-35-95
“Arkhangel’sky”ulitsa Voskresenskaya, 17, Arkhangel’sk 163000(8182) 20-38-68
“Saratovsky”ulitsa Kiselyova, 65 Saratov, 410012(8452) 73-50-74, (8452) 73-50-81
“Samarsky”ulitsa Chapayevskaya, 138 A, Samara, 443010(846) 333-13-33
“Promyshlenny” ulitsa Pobedy, 105, Promyshlenny rayon, Samara, 443009 (846) 997-11-99
“Novosibirsky”ulitsa Sovetskaya, 15 Novosibirsk, 630007(383) 325-11-77
“Chelyabinsky” prospekt Lenina, 48, Chelyabinsk 454091(351) 264-53-93
“Ekaterinburgsky”ulitsa Kuybysheva, 82 A, Ekaterinburg 620100 (343) 261-64-84
“Rostovsky”ulitsa Pushkinskaya, 105/79, Rostov-on-Don 344007(863) 255-97-87, (863) 255-98-38
