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Nordea Bank AB’s Board of Directors decided to initiate a re-domiciliation of the parent company of the Nordea Group from Sweden to Finland and the European Banking Union on 6 September 2017. At the Annual General Meeting that took place on 15 March 2018, the merger plan was approved by Nordea’s shareholders. The actual re-domiciliation is planned to be effective on 1 October 2018 – but remains subject to the necessary regulatory approvals.
Nordea is a unique pan-Nordic bank with an international structure and a balance sheet approximately twice the size of the GDP of any of the Nordic economies. The re-domiciliation is an important strategic step in positioning Nordea on a par with its European peers. Participation in the Banking Union means that Nordea will be subject to the same regulatory framework as its large European peers, with greater consistency of application and therefore a more level playing field.
None of our customers are expected to notice any difference in how we serve them on a daily basis as a result of the move. The move does not impact how and where we take decisions in relation to our individual customers. We will be just as close to our customers as we have always been and continue to interact with and contribute to the societies we operate in.
More information can be found here.