Nordea private banking surpasses EUR 10bn in AUM in Norway - should be twice as much

Head of Private Banking at Nordea in Norway, Torsten Østensen, explains that the private banking market is less mature in the country than in the rest of the Nordics, but that the sector is growing.

Head of Private Banking at Nordea in Norway, Torsten Østensen | Photo: Nordea Norge/ PR

Assets managed by the private banking arm of Nordea in Norway has increased by NOK 7bn (EUR 690m), year-to-date.

"We are very satisfied with the increase and think that this trend will continue in the years to come. The Norwegian private banking market is not as developed as the markets in our neighboring countries. We should not forget that Norway was one of the poorest countries in Europe just one hundred years ago," Head of Private Banking at Nordea in Norway Torsten Østensen tells AMWatch's Norwegian sister media FinansWatch.

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