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Nicole Hawkins photo: Nordea Bank, Copenhagen - The Nordea Bank buildings in Copehnagen, shot from across the water.
Nicole Hawkins photo: Nordea Bank, Copenhagen - The Nordea Bank buildings in Copehnagen, shot from across the water.
(Nicole Hawkins)

Financial Times

Why Swedish bank tortoises give big EU hares a drubbing

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by high lighting key emerging risks and opportunities. Click here to read more international insights.

If you were buying bank shares for the long term a decade ago, should you have picked the tortoise or the hare? The tortoise is the correct answer. Aesop would be proud. Over the past 10 years the FTSE Eurofirst banking index, dominated by racy investment banking types such as Deutsche Bank and Credit Suisse, has fallen 50 per cent. Swedbank, a less exciting institution, has risen by a similar amount while compatriot Nordea is up almost 400 per cent.