The boards of directors of each of Nordea Bank AB (publ), Nordea Bank Danmark A/S, Nordea Bank Finland Plc and Nordea Bank Norge ASA have signed merger plans to change the Norwegian, Danish and Finnish subsidiary banks to branches of the Swedish parent company by means of cross-border mergers.
Simplifying the legal structure takes place as part of the ongoing wider transformation of Nordea. A more straightforward legal structure also better reflects the Nordic way in which we operate today.
A simpler legal structure will support our work to increase agility, efficiency and benefits of scale. It will strengthen governance. Our ambition with the transformation is to make it even easier for our customers to deal with us and at the same time leverage on our expertise as One Nordea.
The mergers are planned to be executed by early 2017. Nordea´s shareholders approved the merger plans at the Annual General Meeting in March 2016. The Swedish Financial Supervisory Authority (SFSA) approved the plans in May 2016.
The proposed changes to the legal structure depend on approvals and a satisfactory outcome of the discussions with regulators and authorities in each country and on the mergers not being impeded, in full or in part, by applicable laws or for any other reason deemed significant by the Board of Directors of Nordea Bank AB (publ).
See press releases about the simplifying of our legal structure: