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[[:Category:Banking]] [[:Category: Banks of Malta]]
[[:Category:Banking]] [[:Category: Banks of Malta]]

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Revision as of 17:47, 17 March 2015

Nemea Bank
IndustryBank Investment Services
FoundedSeptember 2, 2008 (2008-09-02)
FoundersHeikki Niemelä Mika Lehto
Headquarters
St Julians
,
Malta
Area served
EU/EEA region
ProductsNemea Instant Payment

Savings Accounts

Term Deposit Accounts
ParentNemea plc
Websitewww.nemeabank.com (http://www.nemeabank.com)

Nemea Bank is a modern pan-European direct bank, providing banking and investment services to individuals, companies, institutions, public sector entities and high net worth individuals based in the 31 countries of the EU/EEA area. It is headquartered in St Julian's, Malta.

Nemea Bank is one of a small number of online-only banks. It does not operate any physical branches and offers all its services through its online banking platform. The bank’s spearhead product is the Nemea Instant Payment, which enables global money transfers for free and in real time.[1]

History

Nemea Bank was founded on 2 September 2008, upon its licensing as an EU-regulated bank[2] by the Malta Financial Services Authority (MFSA).[3][4] Its mission is to transform the way banking is conducted and to make global banking faster, cheaper, simpler, more convenient, accessible and secure.

Nemea Bank is a member of the Maltese Depositor Compensation Scheme,[5] which is based on EU Directive 94/19 on deposit-guarantee schemes[6] and protects client deposits up to €100,000 per client.[7] Nemea Bank is also a member of the Malta Investor Protection Scheme.[8]

Nemea Bank is wholly owned by its parent company Nemea plc. The largest shareholder of Nemea plc is Nevestor SA, a European investment company based in Belgium. The bank is ultimately jointly owned by its founders Heikki Niemelä and Mika Lehto,[9] both of whom are Finnish bankers who have an extensive background in Nordic banking and investment services. There are no other interests, financiers, investors or other institutions involved in Nemea Bank.[10]

On 14 February 2013, Nemea Bank launched its first major deposit products, comprising a collection of short and long term deposit products.[11] These products were increased to cover eight term deposit options, ranging from 1 month to 5 years, in July 2014.[12]

Products and Services

Nemea Bank offers the following products and services:

  1. Free and instant worldwide money transfers between Nemea clients through the Nemea Instant Payment (NIP) system.[1]
  2. Personal and business bank accounts, including the submission of all documentation online.[13]
  3. Savings and term deposit accounts, ranging from 1 month to 5 years in maturity.[14][15]
  4. A suite of corporate and investment banking services, including corporate financing, strategic advisory and investments.[16]
  5. Private banking and asset management services for high net worth individuals.

Nemea Instant Payment

Nemea Bank’s spearhead product is the Nemea Instant Payment, which gives Nemea clients the opportunity to transfer money across geographical borders and currencies instantly and at no cost.[1]

Nemea clients are entitled to nip money anytime, anywhere and at no cost. All they need to carry out a NIP transfer is the beneficiary’s name and email address, or his or her Facebook profile.

This is different from traditional payments, such as Single Euro Payments Area and other international interbank payments, which are subject to various time restrictions, currency charges and other SWIFT and bank-imposed transfer fees where applicable.

Business Model

Nemea Bank is an online-only bank, meaning that it does not operate any physical bank branches and its clients subscribe to and manage all their products and services through an online banking platform.[17]

Nemea’s business model allows the Bank to operate strongly with much lower income per client than traditional banks, as its costs and overheads would similarly be a fraction of the traditional banks’ relative cost base due to the lean, modern operating platforms and structures it runs. This results in better operating margins and efficiency,[18] which is also reflected in competitive interest rates on its deposit products.[19]

Nemea Bank earns income by generating interest, fees and commissions, and financial income. When clients transfer and deposit money at the Bank, their funds are invested by the Bank in loans, deposits, other fixed income instruments and other low risk securities, generating income for the bank.

Nemea Bank offers its products and services to clients in all 31 countries of the EU/EEA region by virtue of the European Union’s “single passport” regime, a system that allows financial services operators legally established in one EU/EEA Member State to establish and provide their services in all other Member States.[20]

Nemea Bank currently provides full client support services and communication in 5 languages: English, Spanish, French, Greek and Finnish.[21]

External Links

Nemea Bank Website (http://www.nemeabank.com)

References

Category:Banking Category: Banks of Malta

  1. ^ a b c Erkko, Anni (July 28, 2010), "Toista tällaista ei ole". Kauppalehti. Retrieved March 16, 2015. Cite error: The named reference "Kauppalehti" was defined multiple times with different content (see the help page).
  2. ^ "The ECB publishes final list of significant credit institutions for Malta and other EU jurisdictions". The Malta Independent. September 12, 2014. Retrieved January 5, 2015.
  3. ^ "Nemea Bank plc (Licence Holder Information)". Malta Financial Services Authority. Retrieved March 6, 2015.
  4. ^ Morera Celdrán, Julio Marco (March 7, 2015), "Seis bancos que ofrecen depósitos en España con intereses entre el 1,75% y el 4%". Cada €uro Cuenta. Retrieved March 16, 2015.
  5. ^ Participants in the Depositor Compensation Scheme. Depositor Compensation Scheme (Malta). April 9, 2013. Retrieved February 25, 2015.
  6. ^ Deposit Guarantee Schemes. Europa (web portal). November 11, 2014. Retrieved February 20, 2015.
  7. ^ Casillas, Cristina (September 15, 2014), "¿Se abriría un depósito en un banco en Malta para ganar un 3%?". Inversión & Finanzas. Retrieved March 16, 2015.
  8. ^ Participants in the Investor Compensation Scheme. Depositor Compensation Scheme (Malta). July 21, 2014. Retrieved February 25, 2015.
  9. ^ Toivanen, Heikki (March 1, 2014), "Pankkiiri, Pyhäniemen herra ja Patruunanmäen isäntä". Savon Sanomat. Retrieved March 16, 2015.
  10. ^ This is Nemea. Nemea Bank. Retrieved November 14, 2014.
  11. ^ "Young Nemea Bank introduces first term deposit products". The Sunday Times. February 24, 2013, p. S2. Retrieved March 16, 2015.
  12. ^ "Nemea, un banco de Malta que ofrece un ¡4% TAE! en sus depósitos". El Boletin. September 12, 2014. Retrieved March 16, 2015.
  13. ^ "NemeaBank baja la rentabilidad de sus depósitos contratables desde España". TuCapital. February 19, 2015. Retrieved March 16, 2015.
  14. ^ "Nemea Bank launches term deposit interest rates". The Sunday Times. 1 March 2015, p. 31.
  15. ^ "El banco maltés Nemea Bank comercializa un depósito al 4 % TAE disponible desde España". El Plural. March 2, 2015. Retrieved March 16, 2015.
  16. ^ "Corporate & Investment Bank". Nemea Bank. Retrieved March 16, 2015.
  17. ^ "Nemea Bank, el banco con los mejores depósitos 2014". Ábaco Finanzas. August 7, 2014. Retrieved March 16, 2015.
  18. ^ Cañete, Borja (December 11, 2014), "Los bancos que no se adapten al mundo digital serán superados: entrevista a David Herrera". Rankia. Retrieved March 16, 2015.
  19. ^ Charlet, Marc (January 31, 2015), "Epargne à taux fixe: la baisse des taux s’est encore accélérée". Le Soir. Retrieved March 16, 2015.
  20. ^ Banking. Europa (web portal). December 5, 2014. Retrieved January 12, 2015.
  21. ^ "Nemea Bank (al 4,25% TAE) pone una WEB y unos interlocutores en Castellano". TuCapital. July 23, 2014. Retrieved March 16, 2015.
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