The article dives into the historical significance of the term 'Estonian Nokia,' initially proposed by President Lennart Meri in 1999 during the Hansabank economic conference. The metaphor was used to describe a local entity that had potential for international success, illustrating the rapid ascent of Hansabank from modest beginnings to a notable player in the Baltic banking sector.

At the time of Meri's call for an 'Estonian Nokia,' Hansabank was not yet the giant it would later become. Although it was in the shadow of a thriving Finnish economy, the bank exemplified the burgeoning potential within Estonia, showcasing how local enterprises could achieve significant growth and stature. As Hansabank expanded, it became renowned for its banking services in the Baltic states and Central and Eastern Europe, fulfilling Meri’s vision to elevate Estonia's economic identity.

The article hints at the broader implications of this metaphor, pointing to how the success of local entities, like Hansabank, can shape the economic landscape and national pride of a country. It reflects on the competitive environment of banking at the time and suggests that Estonia's journey with companies such as Hansabank remains a significant case study in talent, investment, and growth in a post-Soviet economy.