Nordea, the Scandinavian banking group, said it is currently witnessing a boom in its private banking business and plans to target further g...

Nordea, the Scandinavian banking group, said it is currently witnessing a boom in its private banking business and plans to target further growth. Interviewed by Dow Jones Newswires, the bank’s chief executive Lars Nordstroem said: “Private banking is, and will remain, a profitable operation. It is growing with incredible strength.” Nordea operates its wealth management services through Nordea Private Banking, Nordea Private Wealth Management and an offshore private bank based in Luxembourg.