19 December 2013
On 12th December, Nordea Bank S.A. presented a cheque for 10 000 euros to the Deputy General Director of the Luxembourg Red Cross, Marc Crochet. 5000 euros of which, will provide financial aid to projects supporting vulnerable people in Luxembourg and the additional 5000 euros will be used for the Red Cross Emergency Fund.
The Luxembourg Red Cross’ End of Year Campaign was launched to increase awareness of social needs in Luxembourg, and aims to raise funds for projects created to respond to these. Despite Luxembourg’s reputation as a rich country, poverty is increasing. In 2011, 13.6% of the population was classed as living below the poverty line, and this increased to 15.1 % in 20121. The risk is higher amongst certain social groups, such as single parent families.
‘’We are proud to contribute to the Luxembourg Red Cross’ End of Year Campaign, especially given our long partnership with the organisation’’ explained John Mortensen, CEO of Nordea Bank S.A. ‘’We support the Red Cross as we know that it has the capacity to respond to the needs of the most vulnerable people both in Luxembourg and abroad. We are happy and proud that we can work with an organisation which is experienced and competent in this field’’
Marc Crochet, Deputy General Director of the Luxembourg Red Cross, thanked Nordea Bank S.A. for their generous donation of 10 000 euros and explained that ‘’Donations enable us to help vulnerable people at home and abroad, without them, we don’t have the power to act. He further explained that ‘’We must have sufficient means and a quick response rate in order to react to urgent needs. One example of this was our efficiency in sending emergency aid and volunteers to support victims of Typhoon Haiyan in the Philippines.’’
About the Luxembourg Red Cross
Based on the 7 fundamental principles of its movement such as impartiality and humanity, the Luxembourg Red Cross works to improve the living conditions of the most vulnerable people without regard as to race, religion, class or political belief, through its activities in the fields of Health, Social, Youth and International Aid.
About Nordea Bank
Nordea Bank S.A. was established in Luxembourg in 1976 and is the leading Nordic pan-European banking entity in Luxembourg, Singapore and Switzerland. It has 400 employees and serves a wide spectrum of international clients. Nordea Bank S.A. is a wholly owned subsidiary of the Nordea group, the largest financial institution in the Nordic and Baltic Sea regions. Its Wealth Management division, with the Luxembourg-based operation as a substantial contributor, has created a strong pan-European market position within the investment funds and private wealth management market with a total of EUR 227,8bn assets under management (as at 30/09/13).