Nordea moves headquarters to join Europe’s Banking Union

Nordea announced on Wednesday it would move its administrative headquarters from Sweden to Finland, allowing it to submit to supervision by Europe’s Single Supervisory Mechanism.

  • By Owen Sanderson
  • 06 Sep 2017

The bank expects to pay an additional €60m-€200m in resolution and deposit guarantee fees inside the Banking Union in 2018, but expects that overall, "the net present value of resolution fees, deposit guarantees and other transitional effects will be positive by approximately €1bn-€1.1bn".

But, though the move will have ...

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