Recent Buy: Nordea Bank AB

Nordea dropped today after reporting 3rd quarter results. Valuation was just so compelling that I decided to buy additional 100 shares for 10,50 EUR per share. I don’t expect this to be exceptionally long position as I suspect that Sampo has big plans for Nordea. I wouldn’t be surprised if they complete the relocation to Finland next year, optimise the operations including the IT infrastructure and announce a merger in 2019 which could complete in 2020. They appear to be in excellent shape going forward and the gradually rising interest rates should work in their favour as well.

See: https://seekingalpha.com/pr/16980447-nordea-bank-ab-publ-3rd-quarter-results