By means of three cross-border mergers, Nordea changed its legal structure in January 2017. Through the mergers, the former Nordic banking subsidiaries (i.e., Nordea Bank Danmark A/S, Nordea Bank Finland Plc and Nordea Bank Norge ASA) were changed from Danish, Finnish and Norwegian subsidiary banks to branches of the then Swedish parent company of the Nordea group (i.e., Nordea Bank AB (publ)).
The simplification of the legal structure was part of a wider transformation of Nordea with the purpose to support our work to increase agility, efficiency and benefits of scale and to strengthen governance.
Nordea´s shareholders approved the merger plans at the Annual General Meeting (AGM) in March 2016. Following the AGM, all approvals, authorizations and consents by the relevant authorities in Sweden, Denmark, Finland and Norway were obtained during 2016 and the cross-border mergers were consequently executed on 2 January 2017.