(Bloomberg) -- Norway's DNB ASA has eclipsed perennial Nordic powerhouse Nordea Bank Abp as the biggest lender by market value in the Nordic region.
DNB's market value has now exceeded that of Nordea for the first time since the Helsinki-based lender was created through the merger of four Nordic banks at the end of 2001.
DNB has risen 11% so far this year, while Nordea has dropped 11%. The Norwegian bank is profiting from its home country's solid economic growth thanks to a revival in oil investments and low unemployment. That led Norges Bank to raise interest rates earlier this month, a move that sets it apart from most other central banks in the world.
To contact the reporters on this story: Mikael Holter in Oslo at mholter2@bloomberg.net;Kati Pohjanpalo in Helsinki at kpohjanpalo@bloomberg.net
To contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.net
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
