“This is a very gratifying result that brings us back to the position where we want to be. It confirms that we are focusing on the right things. Great thanks to our customers, who are increasingly turning to us for strategic discussions and financial solutions,” comments Peter Lauridsen, Head of Institutional Banking.
The survey is based on interviews with 190 financial institutions in the Nordic countries, of which the 71 largest are classified as Tier 1 and 111 are classified as Tier 2. The firms were asked to rank their banking relationships based on ten different categories, which were then weighed together to form an Overall Performance score.
SEB received the highest score and was ranked at the top overall for the first time since 2019. Looking at the individual countries, SEB earned the number one score in Sweden – just as in previous years – but now also climbed to the first place ranking in Finland. In Denmark SEB landed at second place, and in Norway the bank took fourth place.
“Historically we have had a very strong position in Sweden, where we have been the dominant actor, while we have been a challenger in the other Nordic countries, where it has been a tough task matching the local, dominant players,” says Peter Lauridsen.
“In this year’s survey we see improvements straight across several countries, straight across segments, and over various assessment criteria. This is very impressive and exactly the trajectory on which I hope we can move to be best in all four countries.”
Tough competition
But the competition is fierce both from regional and global actors. So, there’s no letting up, SEB must continue to develop new services and make its offering even more relevant, according to Peter Lauridsen.
“We insist on having a full, institutional product offering that encompasses everything from trading products to asset management, financial solutions and post-trade services. At the same time, we are combining this with the deep understanding of customers and the tailored advisory that you can have only if you have local experts in place in each of the four countries.”
On the right track
Looking at the ten different sub-categories that are weighed together for the overall score, SEB was ranked number one in seven of the ten categories, including personal contacts, service mindedness, relevant focus and sustainability.
“I want to direct a great thanks to all of our people who have worked with such dedication and focus on delivering this result,” says Peter Lauridsen. “It is one of many data points that shows that we are on the right track.”
The ranking included just under 20 Nordic and international banks.