Nordea’s expertise in imports and exports awarded once again

The Global Finance Magazine selected Nordea as the Best Trade Finance Provider again in 2010. Read more

Olli Jutila, who is in charge of Trade Finance in Neste Oil Corporation, values Nordea’s expertise.  

We interviewed Olli Jutila of Neste Oil Corporation’s experiences of their cooperation with Nordea:

• Neste Oil Corporation is a large importer of crude oil. What do you find are the most important aspects in Nordea Trade Finance's service?
  Product knowledge, flexibility and quick reaction time as well as the ability to make decisions concerning the orders we submit.
• What are your most essential needs in handling import trades based on which you select your banking partner?
  An essential part of oil trading is that the security is given in the form the seller requires and by a bank accepted by the seller. Nordea is a generally accepted documentary credit issuer bank among all our suppliers.
• Do you believe Nordea’s ability to serve you efficiently plays an important role in your very hectic business?
  Yes, part of the crude oil is purchased by participating in load-specific auctions, which means that the security must usually be available at very short notice. At the present price level the values of imported crude oil loads are in the range of USD 50-55m.
• How much does Nordea’s extensive cooperation network benefit you?
  Nordea can meet our needs extremely well also outside Finland.