NORDEA BANK Ever since Nordea was formed in 2001 the ambition has been to truly become One Nordea. To fulfil this ambition we are working on simplifying our legal structure with the aim to change the Norwegian, Danish and Finnish subsidiary banks to branches of our Swedish parent company.
The cross-border merger plans with the purpose to change the banks in Norway, Denmark and Finland to branches of Nordea Bank AB will be presented to the Annual General Meeting for approval by Nordea's shareholders on 17 March 2016. The mergers are planned to take place by early 2017. The final approvals of the planned changes to the legal structure depend, among other things, on regulatory consent and a satisfactory outcome of discussions with the authorities in each country.
'A branch structure will decrease the administrative complexity and make the operations of Nordea more efficient. The change will support our work to increase our agility and make us more competitive to the benefit of our customers', says CEO Casper von Koskull.
It will not lead to significant changes in our presence in each country or in the way we serve our customers.
More detailed information will follow during the year and be published on our websites www.nordea.com, www.nordea.fi, www.nordea.dk, www.nordea.no, www.nordea.se.
Nordea Bank AB issued this content on 04 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 February 2016 10:55:23 UTC
Original Document: http://www.nordea.com/en/press-and-news/news-and-press-releases/news-en/2016/2016-02-04-creating-one-nordea-simplifying-the-legal-structure.html
