"We're very grateful that we were able to successfully grow and support our Nordic clients without incident last year as well," Tiina Käsi, country senior executive at Nordea Estonia, said according to a press release on Monday. "This was made possible thanks to the trust of our clients and owners as well as Estonia's innovative and flexible business environment."

Käsi also noted that the Estonian branch's team, which has expanded to nearly 900 people as the company has continued to grow over the past five years, includes employees of 40 different ethnicities.

"Nordea's expansion confirms that Estonia remains a safe and reliable country in foreign investors' eyes," said Joonas Vänto, director of the Estonian Business and Innovation Agency's Foreign Investment Center.

Vänto also highlighted the efforts of Finnish foreign representative Pilvi Hämäläinen and Tallinn investor consultant Toomas Meltsas in particular in bringing the investments into Nordea's expansion in Estonia to fruition.

As Nordea's financial crime prevention units continue to grow, but there is a lack of employees with money laundering prevention experience on the market, Nordea partnered with the Estonian Unemployment Insurance Fund and the Estonian Entrepreneurship University of Applied Sciences (EUAS) to organize the first basic money laundering prevention course, which included both theory and practice elements.

Nordea Estonia plans to create an additional 200 new jobs this year, the Estonian Business and Innovation Agency said.

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