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 UTC, 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:
Country | |
---|---|
UK | |
Phone number | +44(0)20 3427 1903 |
Confirmation code | 5199007 |
Sweden | |
Phone number | +46(0)8 5065 3936 |
Confirmation code | 5199007 |
Denmark | |
Phone number | +4532 71 16 59 |
Confirmation code | 5199007 |
Finland | |
Phone number | +358(0)9 6937 9590 |
Confirmation code | 5199007 |
Norway | |
Phone number | +472350 0486 |
Confirmation code | 5199007 |
Country | Phone number | Confirmation code |
UK | +44(0)20 3427 1903 | 5199007 |
Sweden | +46(0)8 5065 3936 | 5199007 |
Denmark | +4532 71 16 59 | 5199007 |
Finland | +358(0)9 6937 9590 | 5199007 |
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.
Nordea Bank AB published this content on 06 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 September 2017 15:37:05 UTC.
Original documenthttps://www.nordea.com/en/press-and-news/news-and-press-releases/news-group/2017/nordea-press-conference-thursday-7-september.html
Public permalinkhttp://www.publicnow.com/view/494E051036CC82AE2AF109EEAF534BC885EC0262