DNBHF - Top Nordic Banks: Historically Cheap With A Steep Discount To EU And U.S. Peers

There are roughly about 400-500 banks in the Nordic region. Most of these banks are very small and operate only at the regional level. In this article, I will expand on the top 4 banks in terms of their market cap. Namely, DNB ASA (DNBHF) with a market cap of USD 25 billion, Nordea Bank AB (NRBAY) USD 24 billion, Skandinaviska Enskilda Banken AB (SKVKY) EUR 19 billion, Swedbank AB (SWDBF) USD 15 billion.

Nordic banks vs. EU and the U.S.

Source: YCharts

As indicated in the

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