Nordea Mortgage Bank Plc

The demerger of Nordea Bank Finland Plc has been completed on 1 October  and Nordea Mortgage Bank Plc has been incorporated and commenced its operations.

The Board of Directors of Nordea Bank Finland Plc has approved and signed a demerger plan on 4 February 2016 according to which Nordea Bank Finland Plc will demerge so that all its assets, liabilities and reserves relating to the covered bond funding business are transferred to a new acquiring company, Nordea Mortgage Bank Plc, to be incorporated in conjunction with the demerger. 

The demerger plan was approved by an extraordinary general meeting of Nordea Bank Finland Plc on 3 March 2016 and is conditional on the acquiring company obtaining a mortgage credit bank licence
in accordance with Section 5 of the Covered Bond Act (688/2010, as amended) as well as an authorisation as a credit institution as referred to in Section 7 of the Act on Credit Institutions (610/2014, as amended). 

According to the demerger plan the planned registration date was 1 July 2016. As was communicated on 28 June 2016, the conditions would not be met by 1 July 2016 and the registration of the implementation of the demerger was postponed. 

On 15 August 2016, the European Central Bank granted Nordea Mortgage Bank Plc a mortgage credit bank licence as well as an authorisation as a credit institution and thus, the conditions for the demerger have now been met. 

The Finnish Trade Register has on 1 October 2016 registered the implementation of the demerger and Nordea Mortgage Bank Plc has on such date consequently been incorporated and commenced its operations. 

Furthermore, an extraordinary general meeting of Nordea Mortgage Bank Plc on 1 October 2016, appointed Hanna-Maria Heikkinen as a Member of the Board of Directors of Nordea Mortgage Bank Plc. As of 1 October 2016, the Board of Directors of Nordea Mortgage Bank Plc consists of the following persons:

(Reference to stock exchange releases October 3, 2016 )

For further information, please contact:

Andreas Larsson, Senior Investor Relations Officer, Head of Debt IR and ratings, +46 709 707 555 or
Thomas Miller, CEO, Nordea Mortgage Bank Plc, +358 40 864 4554