Deposit guarantee and investor compensation schemes

Changes of the deposit guarantee and investor compensation schemes due to the simplification of our legal structure

Simplifying Nordea´s legal structure

On 2 January 2017, we simplified our legal structure by changing our subsidiary banks in Denmark, Finland and Norway into branches of the Swedish parent company, Nordea Bank AB (publ), to better reflect the way we operate. The change from subsidiary banks into branches was made in the form of three separate mergers. A simpler structure decreases complexity and enables us to focus on delivering the best possible experiences to our customers. 

Deposit Guarantee Scheme

The Swedish deposit guarantee covers all depositors in Nordea Bank AB (publ), including those with deposits in the bank’s foreign branches. Nordea has, however, also joined the local Deposit Guarantee Schemes (DGS) in Denmark and Norway to supplement the Swedish coverage.

If a Swedish institution goes bankrupt or after a decision made by the Swedish Financial Supervisory Authority (Finansinspektionen), the deposit guarantee will as a starting point provide compensation up to 950,000 Swedish kronor per depositor in Sweden. If you have deposits in a foreign branch of a Swedish institution within the EU the compensation limit from the Swedish DGS is the same as in the country where the branch operates, for example 100,000 euro in Denmark and 100,000 euro in Finland. For branches of Swedish banks in Norway the compensation limit is also 100,000 euro. As Nordea has joined the Danish and Norwegian DGS, the Swedish coverage is supplemented by the special local coverage rules for deposits made in the Nordea branches in Denmark and Norway.

The Swedish compensation limit applies to deposits in Nordea Bank AB (publ), including its foreign branches, since all deposits in one and the same institution are added up in accordance with the Directive on Deposit Guarantee Schemes. Depositors are covered per depositor per bank. Consequently, the merger may have implied reduced coverage for the individual depositor in Nordea Bank AB (publ) who also had deposits before the merger in Nordea Bank Danmark A/S, Nordea Bank Finland Plc or Nordea Bank Norge ASA.

As a depositor in Nordea Bank AB (publ) you therefore have the right to withdraw or transfer to another institution any deposits including accrued interest in Nordea Bank AB (publ), including its branches, exceeding the maximum amount covered as a result of the merger. No fees or other penalties will be charged for such withdrawals if they are carried out within a three-month period from the time you were informed about the merger.

We have separately informed all our deposit holders in Nordea Bank Danmark A/S, Nordea Bank Finland Plc and Nordea Bank Norge ASA about the legal changes during 2016. Country-specific information to Nordea customers is available on www.nordea.fi, www.nordea.no, www.nordea.se and www.nordea.dk.

Read more about the deposit guarantee in Sweden on www.riksgalden.se.

Investor Compensation Scheme

The investor compensation scheme for Nordea's customers is determined in accordance with the Swedish investor compensation rules. Nordea is also part of the investor compensation scheme in Denmark to supplement the Swedish coverage if relevant. The investor compensation scheme is applied per investor per bank. Read more about the investor compensation scheme in Sweden on www.riksgalden.se.