Nordea: Press conference Thursday 7 September

Decision on Nordea's headquarter
06-09-17 15:00 | Press release

Press conference

Time: 8.00 CET/9.00 EET. For security reasons, a valid identity card is required.

Place: Nordea Campus, Aleksis Kiven katu 7, Helsinki.

At the Board meeting held on 6 September 2017, the Nordea Bank AB (publ) Board of Directors decided to initiate a re-domiciliation of the parent company from Sweden to Finland. 

On the back of this decision Nordea would like to invite to a press conference in Helsinki on 7 September hosted by Casper von Koskull, President and Group CEO of Nordea. 

Webcast from the event

At the Board meeting held on 6 September 2017, the Nordea Bank AB (publ) Board of Directors decided to initiate a re-domiciliation of the parent company from Sweden to Finland. 

Press conference, 08.00 CET/09.00 EET, 7 September 2017

To attend the press conference, please contact: Kati Tommiska at Nordea via e-mail:  kati.tommiska@nordea.com.

Listen in to the CEO press conference

To listen in to the CEO press conference please dial:

Participants dial in on:

CountryPhone numberConfirmation code
UK+44(0)20 3427 19035199007
Sweden+46(0)8 5065 39365199007
Denmark+4532 71 16 595199007
Finland+358(0)9 6937 95905199007
Norway+472350 0486 5199007

Frequently Asked Questions

Why does Nordea want to move?

We see the re-domiciliation of the parent company as an important strategic step in positioning Nordea on a par with its European competitors. The level playing field and predictable regulatory environment offered by the banking union is, we believe, in the best interest of Nordea’s customers, shareholders and employees.

We will continue to operate in all our four Nordic home markets – Denmark, Sweden, Norway and Finland. There will be no changes in our day-to-day operations and it is our assessment that there will be no material customer impact. Only a limited number of employees are expected to be affected. 

Will employees be affected?

We will continue to operate in all our four Nordic home markets – Denmark, Sweden, Norway and Finland. Only a limited number of employees are expected to be affected.

Will customers be impacted?

We will continue to operate in all our four Nordic home markets – Denmark, Sweden, Norway and Finland. There will be no changes in our day-to-day operations and it is our assessment that there will be no material customer impact. 

Why did you choose Finland?

The Board's decision to initiate the re-domiciliation of the parent company to Finland is the outcome of six months of careful study and analysis of the competitive conditions and challenges facing Nordea. We see the move as an important strategic step in positioning Nordea on a par with its European competitors. The level playing field and predictable regulatory environment offered by the banking union is, we believe, in the best interest of Nordea's customers, shareholders and employees.

What is the overall timetable for the change? When will the change come into effect?

The re-domiciliation is intended to be carried out by way of a downstream cross-border merger through which Nordea Bank AB (publ) will be merged into a newly established Finnish subsidiary. 

The merger is planned to be effected during the second half of 2018 and will be subject to e.g. the necessary regulatory approvals and the shareholders’ approval at a general meeting requiring a 2/3 majority approval of the merger plan. Tentatively at the annual general meeting in March 2018.

The re-domiciliation will tentatively be effective as of 1 October 2018.

The Nordea share will remain listed on the stock exchanges of Stockholm, Helsinki and Copenhagen.

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